Candriam S.C.A. Makes New Investment in KANZHUN LIMITED Sponsored ADR $BZ

Key Points

• Candriam S.C.A. has acquired a new position in KANZHUN LIMITED by purchasing 352,134 shares worth approximately $6.75 million, reflecting a 0.09% ownership stake in the company.
• Various institutional investors have increased their stakes in KANZHUN, notably China Universal Asset Management, which raised its position by 1,304.3% during the first quarter.
• KANZHUN recently announced a dividend of $0.084 per share scheduled for payment on October 16, 2023, representing a yield of 60.0%.

Candriam S.C.A. purchased a new position in shares of KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 352,134 shares of the company's stock, valued at approximately $6,750,000. Candriam S.C.A. owned approximately 0.09% of KANZHUN as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. CoreView Capital Management Ltd lifted its stake in KANZHUN by 23.5% during the fourth quarter. CoreView Capital Management Ltd now owns 3,055,650 shares of the company's stock worth $42,168,000 after purchasing an additional 580,583 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position 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 worth $1,238,000 after acquiring an additional 60,000 shares during the period. Nuveen Asset Management LLC increased its position in shares of KANZHUN by 3.2% during the fourth quarter. Nuveen Asset Management LLC now owns 649,330 shares of the company's stock worth $8,961,000 after acquiring an additional 20,100 shares during the period. Citigroup Inc. increased its position in shares of KANZHUN by 2.9% during the first quarter. Citigroup Inc. now owns 4,084,520 shares of the company's stock worth $78,300,000 after acquiring an additional 116,280 shares during the period. Finally, Centiva Capital LP increased its position in shares of KANZHUN by 334.4% during the fourth quarter. Centiva Capital LP now owns 111,876 shares of the company's stock worth $1,544,000 after acquiring an additional 86,120 shares during the period. 60.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on BZ shares. Jefferies Financial Group upped their price objective on KANZHUN from $20.00 to $24.00 and gave the stock a "buy" rating in a research report on Wednesday. Daiwa America raised KANZHUN from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 2nd. Zacks Research lowered KANZHUN from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 14th. Finally, UBS Group raised KANZHUN from a "neutral" rating to a "buy" rating and set a $26.00 price objective on the stock in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, KANZHUN currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.67.

KANZHUN Price Performance

NASDAQ:BZ opened at $23.54 on Friday. The firm has a market capitalization of $9.66 billion, a PE ratio of 35.13 and a beta of 0.41. The business's fifty day moving average price is $19.26 and its 200 day moving average price is $17.68. KANZHUN LIMITED Sponsored ADR has a 12 month low of $10.57 and a 12 month high of $24.03.

KANZHUN Announces Dividend

The firm also recently announced a full year 25 dividend, which will be paid on Thursday, October 16th. Investors of record on Wednesday, October 8th will be issued a $0.084 dividend. This represents a yield of 60.0%. The ex-dividend date of this dividend is Monday, October 6th.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.