Acadian Asset Management LLC Purchases 2,227,666 Shares of KANZHUN LIMITED Sponsored ADR $BZ

Key Points

• Acadian Asset Management LLC significantly increased its stake in KANZHUN LIMITED by 1,742.7%, acquiring an additional 2,227,666 shares, totaling approximately $45.13 million.
• KANZHUN has announced a full year dividend of $0.084, translating to a dividend yield of 60.0%, to be paid on October 23rd.
• Analysts have mixed ratings for KANZHUN, with a consensus average rating of "Moderate Buy" and target prices ranging from $21.17 to $26.00.

Acadian Asset Management LLC lifted its position in shares of KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ - Free Report) by 1,742.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 2,355,494 shares of the company's stock after purchasing an additional 2,227,666 shares during the quarter. Acadian Asset Management LLC owned about 0.61% of KANZHUN worth $45,130,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Northern Trust Corp lifted its holdings in shares of KANZHUN by 197.6% during the fourth quarter. Northern Trust Corp now owns 1,242,384 shares of the company's stock valued at $17,145,000 after purchasing an additional 824,853 shares during the last quarter. Lighthouse Investment Partners LLC acquired a new stake in KANZHUN in the 4th quarter valued at approximately $166,000. Millennium Management LLC lifted its position in shares of KANZHUN by 124.9% in the 4th quarter. Millennium Management LLC now owns 508,330 shares of the company's stock worth $7,015,000 after acquiring an additional 282,286 shares during the period. Nuveen Asset Management LLC lifted its position in shares of KANZHUN by 3.2% in the 4th quarter. Nuveen Asset Management LLC now owns 649,330 shares of the company's stock worth $8,961,000 after acquiring an additional 20,100 shares during the period. Finally, Man Group plc lifted its position in shares of KANZHUN by 5.2% in the 4th quarter. Man Group plc now owns 326,869 shares of the company's stock worth $4,511,000 after acquiring an additional 16,049 shares during the period. Hedge funds and other institutional investors own 60.67% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BZ. Zacks Research downgraded KANZHUN from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 14th. Daiwa America upgraded KANZHUN from a "hold" rating to a "strong-buy" rating in a report on Monday, June 2nd. UBS Group upgraded KANZHUN from a "neutral" rating to a "buy" rating and set a $26.00 price objective on the stock in a research note on Thursday, August 21st. Barclays upped their price objective on KANZHUN from $22.00 to $25.00 and gave the company an "overweight" rating in a research note on Friday, August 22nd. Finally, Jefferies Financial Group increased their price target on KANZHUN from $20.00 to $24.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, KANZHUN currently has an average rating of "Moderate Buy" and a consensus target price of $21.17.

KANZHUN Trading Down 0.1%

NASDAQ:BZ traded down $0.02 during trading hours on Friday, hitting $24.54. 3,003,237 shares of the company were exchanged, compared to its average volume of 4,378,878. The company has a fifty day simple moving average of $21.14 and a 200 day simple moving average of $18.59. KANZHUN LIMITED Sponsored ADR has a one year low of $11.85 and a one year high of $24.72. The stock has a market capitalization of $10.07 billion, a price-to-earnings ratio of 36.63 and a beta of 0.44.

KANZHUN Dividend Announcement

The firm also recently disclosed a full year 25 dividend, which will be paid on Thursday, October 23rd. Stockholders of record on Wednesday, October 8th will be given a $0.084 dividend. The ex-dividend date of this dividend is Wednesday, October 8th. This represents a dividend yield of 60.0%.

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.