Citigroup Inc. Boosts Stake in Kanzhun Limited (NASDAQ:BZ)

Citigroup Inc. boosted its position in shares of Kanzhun Limited (NASDAQ:BZ) by 149.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,343,278 shares of the company’s stock after acquiring an additional 1,402,885 shares during the quarter. Citigroup Inc.’s holdings in Kanzhun were worth $40,679,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of BZ. Atlas Capital Advisors LLC bought a new position in shares of Kanzhun in the second quarter worth about $25,000. UMB Bank n.a. bought a new position in shares of Kanzhun in the third quarter worth about $42,000. Summit Securities Group LLC bought a new position in shares of Kanzhun in the second quarter worth about $44,000. Van ECK Associates Corp bought a new position in shares of Kanzhun in the third quarter worth about $61,000. Finally, Blue Trust Inc. boosted its stake in Kanzhun by 21.4% during the second quarter. Blue Trust Inc. now owns 7,638 shares of the company’s stock valued at $134,000 after buying an additional 1,347 shares during the last quarter. Hedge funds and other institutional investors own 60.67% of the company’s stock.

Kanzhun Price Performance

Shares of BZ stock opened at $12.76 on Monday. Kanzhun Limited has a 1 year low of $10.57 and a 1 year high of $22.74. The stock’s 50 day simple moving average is $15.04 and its two-hundred day simple moving average is $16.45. The company has a market cap of $4.84 billion, a PE ratio of 29.67 and a beta of 0.55.

Kanzhun (NASDAQ:BZ) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. Kanzhun had a return on equity of 10.19% and a net margin of 20.90%. The business had revenue of $263.75 million for the quarter, compared to the consensus estimate of $264.38 million. Equities research analysts expect that Kanzhun Limited will post 0.47 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. CLSA assumed coverage on Kanzhun in a research note on Monday, November 18th. They set an “outperform” rating and a $18.00 price target for the company. Barclays dropped their price target on Kanzhun from $27.00 to $14.00 and set an “overweight” rating for the company in a research note on Friday, August 30th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.50.

Kanzhun Company Profile

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.