J. Safra Sarasin Holding AG Sells 59,984 Shares of KANZHUN LIMITED Sponsored ADR $BZ

Key Points

• J. Safra Sarasin Holding AG reduced its stake in Kanzhun Limited by 79.8%, selling 59,984 shares, and now holds only 15,231 shares valued at approximately $272,000.
• The firm announced a dividend of $0.084 per share to be paid on October 23rd, representing a dividend yield of 60.0%.
• Several institutional investors have increased their positions in Kanzhun, with holdings by California State Teachers Retirement System and Union Bancaire Privee UBP SA showing significant increases.

J. Safra Sarasin Holding AG cut its stake in KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ - Free Report) by 79.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,231 shares of the company's stock after selling 59,984 shares during the quarter. J. Safra Sarasin Holding AG's holdings in KANZHUN were worth $272,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. California State Teachers Retirement System increased its stake in KANZHUN by 39.7% in the fourth quarter. California State Teachers Retirement System now owns 147,518 shares of the company's stock valued at $2,036,000 after purchasing an additional 41,941 shares in the last quarter. Union Bancaire Privee UBP SA grew its holdings in shares of KANZHUN by 416.1% in the 1st quarter. Union Bancaire Privee UBP SA now owns 130,696 shares of the company's stock valued at $2,431,000 after buying an additional 105,374 shares during the period. Matthews International Capital Management LLC increased its position in shares of KANZHUN by 26.7% in the 1st quarter. Matthews International Capital Management LLC now owns 1,074,442 shares of the company's stock valued at $20,597,000 after buying an additional 226,152 shares in the last quarter. UG Investment Advisers Ltd. acquired a new stake in KANZHUN during the 1st quarter worth $9,001,000. Finally, GAM Holding AG bought a new position in KANZHUN during the first quarter worth about $2,396,000. Institutional investors own 60.67% of the company's stock.

KANZHUN Stock Up 0.3%

Shares of BZ stock opened at $23.47 on Monday. KANZHUN LIMITED Sponsored ADR has a 12 month low of $12.16 and a 12 month high of $25.26. The company's fifty day simple moving average is $22.58 and its 200-day simple moving average is $19.18. The firm has a market cap of $9.67 billion, a PE ratio of 35.03 and a beta of 0.43.

KANZHUN Announces Dividend

The firm 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 paid a dividend of $0.084 per share. This represents a dividend yield of 60.0%. The ex-dividend date is Wednesday, October 8th. KANZHUN's dividend payout ratio is currently 20.90%.

Wall Street Analysts Forecast Growth

BZ has been the subject of several recent analyst reports. The Goldman Sachs Group restated a "buy" rating on shares of KANZHUN in a report on Monday, September 22nd. Barclays increased their target price on KANZHUN from $22.00 to $25.00 and gave the stock an "overweight" rating in a research note on Friday, August 22nd. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of KANZHUN in a research note on Saturday, September 27th. UBS Group raised shares of KANZHUN from a "neutral" rating to a "buy" rating and set a $26.00 price objective for the company in a research report on Thursday, August 21st. Finally, Jefferies Financial Group raised their price objective on shares of KANZHUN from $20.00 to $24.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus 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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