Assenagon Asset Management S.A. Has $69.23 Million Holdings in KANZHUN LIMITED Sponsored ADR $BZ

Key Points

• Assenagon Asset Management S.A. increased its stake in KANZHUN LIMITED by 12.4%, acquiring an additional 427,213 shares for a total of 3,880,549 shares worth approximately $69.2 million.
• Several large institutional investors, including UBS and Mirae Asset Global Investments, significantly boosted their holdings in KANZHUN, indicating strong interest in the stock.
• Analysts have upgraded KANZHUN's rating, with targets now ranging from $24.00 to $26.00, reflecting positive sentiment about the company's growth potential amidst China's economic recovery.

Assenagon Asset Management S.A. increased its holdings in shares of KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ - Free Report) by 12.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,880,549 shares of the company's stock after purchasing an additional 427,213 shares during the quarter. Assenagon Asset Management S.A. owned 0.99% of KANZHUN worth $69,229,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in BZ. Hancock Whitney Corp increased its position in KANZHUN by 5.6% in the first quarter. Hancock Whitney Corp now owns 23,609 shares of the company's stock worth $453,000 after buying an additional 1,258 shares during the period. First Horizon Advisors Inc. bought a new stake in KANZHUN in the first quarter valued at approximately $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of KANZHUN during the first quarter worth approximately $27,000. APG Asset Management N.V. boosted its holdings in shares of KANZHUN by 5.3% in the 1st quarter. APG Asset Management N.V. now owns 45,300 shares of the company's stock valued at $804,000 after purchasing an additional 2,300 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of KANZHUN by 25.4% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,582 shares of the company's stock valued at $242,000 after purchasing an additional 2,748 shares in the last quarter. 60.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BZ has been the subject of a number of analyst reports. UBS Group upgraded KANZHUN from a "neutral" rating to a "buy" rating and set a $26.00 price target for the company in a research note on Thursday, August 21st. Barclays raised their price objective on shares of KANZHUN from $22.00 to $25.00 and gave the stock an "overweight" rating in a report on Friday, August 22nd. Zacks Research raised shares of KANZHUN from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 12th. The Goldman Sachs Group reiterated a "buy" rating on shares of KANZHUN in a research note on Monday. Finally, Daiwa America upgraded shares of KANZHUN from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 2nd. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $21.17.

KANZHUN Stock Down 2.6%

BZ stock traded down $0.61 during midday trading on Tuesday, hitting $23.15. 876,218 shares of the company traded hands, compared to its average volume of 4,136,182. The business has a 50 day simple moving average of $21.85 and a 200-day simple moving average of $18.94. The stock has a market capitalization of $9.54 billion, a price-to-earnings ratio of 34.62 and a beta of 0.43. KANZHUN LIMITED Sponsored ADR has a twelve month low of $12.16 and a twelve month high of $25.26.

KANZHUN Dividend Announcement

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

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.