KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ) Shares Sold by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp significantly cut its stake in KANZHUN LIMITED by 45.8%, reducing its ownership to approximately 240,782 shares worth $4.6 million.
• A number of other institutional investors, including Krane Funds Advisors LLC and Capital World Investors, increased their stakes in KANZHUN during the first quarter, indicating interest despite Alberta's sell-off.
• Analysts have upgraded KANZHUN from a "hold" to a "strong-buy" rating, reflecting positive sentiment surrounding the stock amidst its recent performance.

Alberta Investment Management Corp reduced its position in shares of KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ - Free Report) by 45.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 240,782 shares of the company's stock after selling 203,158 shares during the quarter. Alberta Investment Management Corp owned 0.06% of KANZHUN worth $4,616,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. CoreView Capital Management Ltd increased its position 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 purchasing an additional 580,583 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in 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 acquiring an additional 60,000 shares during the last quarter. Nuveen Asset Management LLC grew its position in shares of KANZHUN by 3.2% during the 4th quarter. Nuveen Asset Management LLC now owns 649,330 shares of the company's stock worth $8,961,000 after buying an additional 20,100 shares in the last quarter. Centiva Capital LP grew its position in shares of KANZHUN by 334.4% during the 4th quarter. Centiva Capital LP now owns 111,876 shares of the company's stock worth $1,544,000 after buying an additional 86,120 shares in the last quarter. Finally, Diversified Trust Co bought a new position in shares of KANZHUN during the 1st quarter worth $530,000. 60.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

KANZHUN Stock Up 2.7%

NASDAQ:BZ traded up $0.53 on Tuesday, reaching $19.82. The company's stock had a trading volume of 4,871,370 shares, compared to its average volume of 2,722,136. KANZHUN LIMITED Sponsored ADR has a 12-month low of $10.57 and a 12-month high of $20.81. The firm has a market cap of $8.13 billion, a price-to-earnings ratio of 34.17 and a beta of 0.41. The stock has a 50 day moving average price of $18.44 and a 200 day moving average price of $17.14.

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.