Price T Rowe Associates Inc. MD Acquires 1,970,441 Shares of KANZHUN LIMITED Sponsored ADR $BZ

Key Points

• Price T Rowe Associates Inc. increased its stake in KANZHUN LIMITED by 31.0%, now owning 8,325,904 shares, representing approximately 2.14% of the company.
• KANZHUN recently announced a dividend of $0.084 per share, yielding 60.0%, with payment scheduled for October 16th.
• Equity analysts have upgraded KANZHUN's stock ratings, with targets ranging from $20.00 to $26.00, highlighting a consensus rating of "Moderate Buy."

Price T Rowe Associates Inc. MD raised its stake in KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ - Free Report) by 31.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,325,904 shares of the company's stock after acquiring an additional 1,970,441 shares during the period. Price T Rowe Associates Inc. MD owned 2.14% of KANZHUN worth $159,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of KANZHUN by 2,547.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,313,534 shares of the company's stock worth $101,860,000 after acquiring an additional 5,112,824 shares during the period. Krane Funds Advisors LLC lifted its holdings in shares of KANZHUN by 24.2% in the first quarter. Krane Funds Advisors LLC now owns 20,338,378 shares of the company's stock valued at $389,887,000 after purchasing an additional 3,961,488 shares in the last quarter. Baillie Gifford & Co. acquired a new stake in KANZHUN during the 1st quarter valued at $71,111,000. Invesco Ltd. increased its position in KANZHUN by 301.9% during the 1st quarter. Invesco Ltd. now owns 2,887,984 shares of the company's stock worth $55,363,000 after purchasing an additional 2,169,416 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of KANZHUN by 44.8% in the fourth quarter. Bank of America Corp DE now owns 5,612,727 shares of the company's stock valued at $77,456,000 after buying an additional 1,737,071 shares during the last quarter. 60.67% of the stock is currently owned by hedge funds and other institutional investors.

KANZHUN Price Performance

Shares of BZ traded up $0.52 during midday trading on Friday, reaching $23.62. The stock had a trading volume of 4,371,979 shares, compared to its average volume of 4,789,135. KANZHUN LIMITED Sponsored ADR has a 52 week low of $11.48 and a 52 week high of $24.03. The firm's 50 day moving average price is $19.89 and its 200-day moving average price is $18.02. The company has a market capitalization of $9.69 billion, a P/E ratio of 35.25 and a beta of 0.41.

KANZHUN Announces Dividend

The firm also recently disclosed a full year 25 dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Wednesday, October 8th will be given a dividend of $0.084 per share. The ex-dividend date is Wednesday, October 8th. This represents a yield of 60.0%.

Wall Street Analyst Weigh In

BZ has been the topic of a number of research analyst reports. Zacks Research lowered shares of KANZHUN from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 14th. Barclays boosted their price target on KANZHUN from $22.00 to $25.00 and gave the stock an "overweight" rating in a research note on Friday, August 22nd. 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. 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, Daiwa America raised KANZHUN from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 2nd. One research 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.com, the company currently has an average rating of "Moderate Buy" and an average target price of $21.17.

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.