AlpInvest Partners B.V. Takes Position in KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ)

Key Points

• AlpInvest Partners B.V. recently acquired 52,823 shares in KANZHUN LIMITED, valued at approximately $1,013,000, making it the firm's 8th largest holding.
• Several institutional investors have increased their positions in KANZHUN, with 60.67% of the stock now owned by such entities.
• Daiwa America upgraded KANZHUN from a "hold" to a "strong-buy" rating, contributing to a consensus "Buy" rating among analysts with a price target of $18.50.

AlpInvest Partners B.V. purchased a new position in shares of KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 52,823 shares of the company's stock, valued at approximately $1,013,000. KANZHUN makes up 1.5% of AlpInvest Partners B.V.'s portfolio, making the stock its 8th largest position.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. CoreView Capital Management Ltd lifted its stake in shares of KANZHUN by 23.5% during the 4th quarter. CoreView Capital Management Ltd now owns 3,055,650 shares of the company's stock valued at $42,168,000 after buying an additional 580,583 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of KANZHUN by 1,304.3% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 64,600 shares of the company's stock valued at $1,238,000 after purchasing an additional 60,000 shares in the last quarter. Nuveen Asset Management LLC boosted its position in KANZHUN by 3.2% during the 4th quarter. Nuveen Asset Management LLC now owns 649,330 shares of the company's stock valued at $8,961,000 after buying an additional 20,100 shares during the period. Centiva Capital LP boosted its position in KANZHUN by 334.4% during the 4th quarter. Centiva Capital LP now owns 111,876 shares of the company's stock valued at $1,544,000 after buying an additional 86,120 shares during the period. Finally, Diversified Trust Co purchased a new stake in shares of KANZHUN in the 1st quarter worth about $530,000. Institutional investors and hedge funds own 60.67% of the company's stock.

KANZHUN Stock Up 0.6%

Shares of NASDAQ BZ traded up $0.14 during midday trading on Monday, hitting $21.22. The stock had a trading volume of 798,808 shares, compared to its average volume of 4,054,615. The company has a market capitalization of $8.70 billion, a price-to-earnings ratio of 36.56 and a beta of 0.41. KANZHUN LIMITED Sponsored ADR has a 1-year low of $10.57 and a 1-year high of $21.37. The company has a fifty day moving average price of $18.63 and a 200 day moving average price of $17.28.

Analyst Upgrades and Downgrades

Separately, Daiwa America raised shares of KANZHUN from a "hold" rating to a "strong-buy" rating in a report on Monday, June 2nd. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $18.50.

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.