Pitcairn Co. Takes Position in Kanzhun Limited (NASDAQ:BZ)

Pitcairn Co. acquired a new position in Kanzhun Limited (NASDAQ:BZ) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 42,244 shares of the company’s stock, valued at approximately $733,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Atlas Capital Advisors LLC acquired a new position in Kanzhun during the 2nd quarter valued at approximately $25,000. UMB Bank n.a. acquired a new position in Kanzhun in the 3rd quarter worth about $42,000. Summit Securities Group LLC purchased a new position in Kanzhun during the second quarter worth approximately $44,000. Van ECK Associates Corp acquired a new stake in Kanzhun in the third quarter valued at approximately $61,000. Finally, Blue Trust Inc. boosted its holdings in Kanzhun by 21.4% in the 2nd quarter. Blue Trust Inc. now owns 7,638 shares of the company’s stock worth $134,000 after buying an additional 1,347 shares during the last quarter. 60.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Kanzhun Trading Down 1.2 %

Shares of BZ opened at $12.76 on Monday. The firm has a market capitalization of $4.84 billion, a P/E ratio of 29.67 and a beta of 0.55. The firm has a 50-day moving average price of $15.04 and a 200 day moving average price of $16.45. Kanzhun Limited has a 12-month low of $10.57 and a 12-month high of $22.74.

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

Kanzhun 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.