KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ) Shares Sold by Blue Creek Capital Management Ltd

Key Points

• Blue Creek Capital Management Ltd reduced its stake in KANZHUN LIMITED by 8.2%, selling 75,000 shares to hold 842,219 shares, which now represents 20.9% of its portfolio.
• KANZHUN has a current market cap of $8.25 billion and is experiencing notable investor interest, with several institutional investors increasing their holdings significantly in the first quarter.
• Daiwa America upgraded KANZHUN from a "hold" to a "strong-buy" rating, contributing to a generally positive consensus rating of "Moderate Buy" with an average price target of $18.50.

Blue Creek Capital Management Ltd trimmed its holdings in KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ - Free Report) by 8.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 842,219 shares of the company's stock after selling 75,000 shares during the quarter. KANZHUN makes up approximately 20.9% of Blue Creek Capital Management Ltd's holdings, making the stock its 2nd biggest position. Blue Creek Capital Management Ltd owned 0.22% of KANZHUN worth $16,145,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CoreView Capital Management Ltd lifted its position in KANZHUN by 23.5% in the fourth quarter. CoreView Capital Management Ltd now owns 3,055,650 shares of the company's stock worth $42,168,000 after buying an additional 580,583 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in KANZHUN by 1,304.3% in the first quarter. China Universal Asset Management Co. Ltd. now owns 64,600 shares of the company's stock worth $1,238,000 after buying an additional 60,000 shares during the last quarter. Nuveen Asset Management LLC lifted its position in KANZHUN by 3.2% in the fourth 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 during the last quarter. Centiva Capital LP lifted its position in KANZHUN by 334.4% in the fourth 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 during the last quarter. Finally, Diversified Trust Co bought a new stake in KANZHUN in the first quarter worth $530,000. 60.67% of the stock is currently owned by institutional investors.

KANZHUN Stock Performance

BZ traded down $0.31 on Tuesday, hitting $19.53. The company had a trading volume of 1,015,651 shares, compared to its average volume of 4,093,732. The stock has a fifty day moving average price of $18.25 and a 200-day moving average price of $16.94. KANZHUN LIMITED Sponsored ADR has a 12-month low of $10.57 and a 12-month high of $20.81. The stock has a market capitalization of $8.01 billion, a price-to-earnings ratio of 33.63 and a beta of 0.41.

Wall Street Analysts Forecast Growth

Separately, Daiwa America upgraded KANZHUN from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 2nd. One research 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, the stock presently has a consensus rating of "Buy" and a consensus target price of $18.50.

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.