AI Squared Management Ltd Buys New Holdings in KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ)

Key Points

• AI Squared Management Ltd has acquired a new position in KANZHUN LIMITED, buying 27,700 shares valued at approximately $531,000, which makes up about 0.5% of its portfolio.
• Institutional interest is increasing in KANZHUN, with several firms modifying their holdings, including First Trust Advisors LP and Quadrant Capital Group LLC, which saw substantial increases during the last quarter.
• Wall Street analysts remain optimistic about KANZHUN, as Daiwa America upgraded its rating to "strong-buy," contributing to an average consensus target price of $18.50.

AI Squared Management Ltd purchased a new position in shares of KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 27,700 shares of the company's stock, valued at approximately $531,000. KANZHUN comprises about 0.5% of AI Squared Management Ltd's portfolio, making the stock its 14th biggest position.

A number of other large investors also recently modified their holdings of BZ. First Trust Advisors LP increased its holdings in KANZHUN by 7.7% in the fourth quarter. First Trust Advisors LP now owns 13,927 shares of the company's stock valued at $192,000 after buying an additional 999 shares during the last quarter. First Horizon Advisors Inc. bought a new stake in KANZHUN in the first quarter valued at $25,000. Quadrant Capital Group LLC grew its position in shares of KANZHUN by 403.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,781 shares of the company's stock worth $25,000 after acquiring an additional 1,427 shares during the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of KANZHUN by 7.9% in the 1st quarter. Asset Management One Co. Ltd. now owns 45,585 shares of the company's stock worth $874,000 after acquiring an additional 3,322 shares during the period. Finally, IFM Investors Pty Ltd grew its position in KANZHUN by 37.9% in the 1st quarter. IFM Investors Pty Ltd now owns 14,833 shares of the company's stock worth $284,000 after purchasing an additional 4,075 shares during the last quarter. 60.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

KANZHUN Stock Up 1.5%

Shares of NASDAQ BZ opened at $20.11 on Thursday. KANZHUN LIMITED Sponsored ADR has a 52-week low of $10.57 and a 52-week high of $20.81. The stock has a market capitalization of $8.25 billion, a price-to-earnings ratio of 34.67 and a beta of 0.41. The stock's fifty day simple moving average is $18.50 and its 200 day simple moving average is $17.16.

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.

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