ABS Direct Equity Fund LLC Reduces Holdings in Kanzhun Limited (NASDAQ:BZ)

ABS Direct Equity Fund LLC lessened its stake in Kanzhun Limited (NASDAQ:BZ) by 37.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,272 shares of the company’s stock after selling 38,900 shares during the period. ABS Direct Equity Fund LLC’s holdings in Kanzhun were worth $901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. UMB Bank n.a. purchased a new position in Kanzhun during the 3rd quarter worth $42,000. Van ECK Associates Corp purchased a new stake in Kanzhun in the 3rd quarter valued at approximately $61,000. Premier Fund Managers Ltd increased its position in Kanzhun by 38.0% during the 3rd quarter. Premier Fund Managers Ltd now owns 10,470 shares of the company’s stock worth $180,000 after purchasing an additional 2,884 shares during the period. DRW Securities LLC acquired a new stake in shares of Kanzhun in the 3rd quarter valued at approximately $203,000. Finally, Hancock Whitney Corp purchased a new stake in shares of Kanzhun in the third quarter valued at approximately $228,000. Institutional investors and hedge funds own 60.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Sanford C. Bernstein lowered shares of Kanzhun from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $19.00 to $15.00 in a research report on Monday, December 9th. Barclays increased their target price on shares of Kanzhun from $14.00 to $16.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Citigroup lowered their price target on Kanzhun from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, November 29th. Finally, CLSA assumed coverage on Kanzhun in a report on Monday, November 18th. They issued an “outperform” rating and a $18.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $21.00.

Kanzhun Stock Up 0.3 %

BZ stock opened at $14.89 on Tuesday. The company has a market capitalization of $5.67 billion, a P/E ratio of 33.09 and a beta of 0.49. Kanzhun Limited has a fifty-two week low of $10.57 and a fifty-two week high of $22.74. The company has a 50-day simple moving average of $13.77 and a 200 day simple moving average of $14.32.

Kanzhun (NASDAQ:BZ) last announced its quarterly earnings results on Wednesday, December 11th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.13 by $0.02. Kanzhun had a return on equity of 10.31% and a net margin of 20.65%. Equities analysts anticipate that Kanzhun Limited will post 0.46 EPS for the current year.

About Kanzhun

Kanzhun Limited, together with its subsidiaries, provides online recruitment services in the People's Republic of China. The company offers its recruitment services through a mobile app under the BOSS Zhipin brand name. Its services allow enterprise customers to access and interact with job seekers and manage their recruitment process.