Exchange Traded Concepts LLC Makes New $1.87 Million Investment in KANZHUN LIMITED Sponsored ADR $BZ

Key Points

• Exchange Traded Concepts LLC acquired a new stake in KANZHUN LIMITED Sponsored ADR, purchasing 105,013 shares valued at approximately $1.87 million in the 2nd quarter.
• Recent upgrades by analysts include a shift from a "hold" to a "strong-buy" rating by Zacks Research and target price increases from various firms, indicating positive market sentiment.
• Kanzhun announced a dividend of $0.084 per share, yielding 60.0%, with the payment scheduled for October 23rd to shareholders of record on October 8th.

Exchange Traded Concepts LLC acquired a new stake in shares of KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 105,013 shares of the company's stock, valued at approximately $1,873,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Millennium Management LLC boosted its stake in KANZHUN by 124.9% in the 4th quarter. Millennium Management LLC now owns 508,330 shares of the company's stock worth $7,015,000 after purchasing an additional 282,286 shares during the period. Nuveen Asset Management LLC increased its holdings in shares of KANZHUN by 3.2% in the 4th quarter. Nuveen Asset Management LLC now owns 649,330 shares of the company's stock valued at $8,961,000 after purchasing an additional 20,100 shares during the period. Quantinno Capital Management LP purchased a new position in KANZHUN during the fourth quarter valued at approximately $163,000. Vident Advisory LLC increased its stake in KANZHUN by 59.6% in the 4th quarter. Vident Advisory LLC now owns 16,107 shares of the company's stock valued at $222,000 after buying an additional 6,016 shares during the period. Finally, Vise Technologies Inc. acquired a new stake in shares of KANZHUN during the 4th quarter valued at $256,000. Institutional investors and hedge funds own 60.67% of the company's stock.

KANZHUN Price Performance

NASDAQ:BZ traded down $0.52 during trading hours on Monday, hitting $23.76. The company's stock had a trading volume of 3,551,867 shares, compared to its average volume of 4,218,791. The company has a market capitalization of $9.79 billion, a P/E ratio of 36.24 and a beta of 0.43. The stock has a fifty day simple moving average of $21.85 and a 200-day simple moving average of $18.94. 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 disclosed 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.

Wall Street Analyst Weigh In

Several equities analysts have commented on BZ shares. UBS Group raised shares of KANZHUN from a "neutral" rating to a "buy" rating and set a $26.00 target price on the stock in a research report on Thursday, August 21st. Jefferies Financial Group upped their target price on KANZHUN from $20.00 to $24.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Barclays upped 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. Daiwa America raised KANZHUN from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 2nd. Finally, Zacks Research raised KANZHUN from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 12th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $21.17.

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.