Goldman Sachs Group Inc. Purchases 2,678,683 Shares of KANZHUN LIMITED Sponsored ADR $BZ

Key Points

• Goldman Sachs Group Inc. increased its stake in KANZHUN LIMITED by 45%, owning a total of 8,629,115 shares valued at approximately $165.4 million.
• The company recently announced a $0.084 dividend with a yield of 60%, set to be paid on October 23rd to investors recorded by October 8th.
• Analysts have given KANZHUN an average rating of Moderate Buy with target prices ranging from $22.00 to $26.00, highlighting positive growth outlooks.

Goldman Sachs Group Inc. raised its position in shares of KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ - Free Report) by 45.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,629,115 shares of the company's stock after purchasing an additional 2,678,683 shares during the period. Goldman Sachs Group Inc. owned approximately 2.22% of KANZHUN worth $165,420,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Northern Trust Corp lifted its position in shares of KANZHUN by 197.6% during the 4th quarter. Northern Trust Corp now owns 1,242,384 shares of the company's stock worth $17,145,000 after buying an additional 824,853 shares during the last quarter. Lighthouse Investment Partners LLC bought a new position in shares of KANZHUN in the fourth quarter worth about $166,000. Millennium Management LLC lifted its holdings in shares of KANZHUN by 124.9% in the fourth quarter. Millennium Management LLC now owns 508,330 shares of the company's stock worth $7,015,000 after acquiring an additional 282,286 shares during the last quarter. Nuveen Asset Management LLC boosted its stake 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 in the last quarter. Finally, Man Group plc grew its holdings in shares of KANZHUN by 5.2% during the 4th quarter. Man Group plc now owns 326,869 shares of the company's stock valued at $4,511,000 after purchasing an additional 16,049 shares during the last quarter. Institutional investors and hedge funds own 60.67% of the company's stock.

KANZHUN Trading Up 1.1%

NASDAQ BZ opened at $24.26 on Thursday. The firm has a market capitalization of $9.95 billion, a PE ratio of 36.21 and a beta of 0.44. The business's 50-day moving average price is $20.88 and its two-hundred day moving average price is $18.45. KANZHUN LIMITED Sponsored ADR has a 12 month low of $11.81 and a 12 month high of $24.39.

KANZHUN Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on BZ shares. Barclays raised their target price on shares of KANZHUN from $22.00 to $25.00 and gave the company an "overweight" rating in a research report on Friday, August 22nd. UBS Group upgraded 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, August 21st. Daiwa America upgraded 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 note on Thursday, August 14th. Finally, Jefferies Financial Group upped their price objective on KANZHUN from $20.00 to $24.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $21.17.

KANZHUN 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.

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