AI Squared Management Ltd Takes Position 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 stake in shares of KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm 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 holding.

A number of other institutional investors have also recently made changes to their positions in the stock. CoreView Capital Management Ltd raised its position in shares of KANZHUN by 23.5% during the fourth 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 during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of KANZHUN by 1,304.3% during the first 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 during the period. Nuveen Asset Management LLC raised its holdings in shares of KANZHUN by 3.2% in the fourth quarter. Nuveen Asset Management LLC now owns 649,330 shares of the company's stock valued at $8,961,000 after acquiring an additional 20,100 shares in the last quarter. Centiva Capital LP raised its holdings in shares of KANZHUN by 334.4% in the fourth quarter. Centiva Capital LP now owns 111,876 shares of the company's stock valued at $1,544,000 after acquiring an additional 86,120 shares in the last quarter. Finally, Diversified Trust Co bought a new position in KANZHUN in the first quarter worth about $530,000. Hedge funds and other institutional investors own 60.67% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Daiwa America upgraded 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 assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $18.50.

KANZHUN Trading Up 0.1%

KANZHUN stock traded up $0.02 during midday trading on Monday, reaching $21.10. 967,677 shares of the stock traded hands, compared to its average volume of 4,055,828. The company has a 50-day simple moving average of $18.63 and a two-hundred day simple moving average of $17.28. The firm has a market cap of $8.66 billion, a PE ratio of 36.37 and a beta of 0.41. KANZHUN LIMITED Sponsored ADR has a 12-month low of $10.57 and a 12-month high of $21.37.

About KANZHUN

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.