Tekne Capital Management LLC Has $56.17 Million Stock Holdings in KANZHUN LIMITED Sponsored ADR $BZ

Key Points

• Tekne Capital Management LLC reduced its stake in KANZHUN LIMITED by 8.4%, selling 270,000 shares to retain 2,930,000 shares, making it the firm's second-largest holding.
• Kanzhun announced a 25-cent dividend to be paid on October 16, which represents a 60% yield for shareholders.
• Analysts have upgraded KANZHUN's ratings, with UBS Group raising its price target to $26.00 and a general consensus rating of Moderate Buy.

Tekne Capital Management LLC trimmed its position in shares of KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ - Free Report) by 8.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,930,000 shares of the company's stock after selling 270,000 shares during the period. KANZHUN accounts for approximately 21.4% of Tekne Capital Management LLC's investment portfolio, making the stock its 2nd biggest position. Tekne Capital Management LLC owned approximately 0.75% of KANZHUN worth $56,168,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in BZ. First Trust Advisors LP increased its stake in shares of KANZHUN by 7.7% during the 4th quarter. First Trust Advisors LP now owns 13,927 shares of the company's stock worth $192,000 after purchasing an additional 999 shares during the last quarter. First Horizon Advisors Inc. acquired a new position in KANZHUN during the first quarter worth approximately $25,000. APG Asset Management N.V. increased its position in KANZHUN by 5.3% during the first quarter. APG Asset Management N.V. now owns 45,300 shares of the company's stock worth $804,000 after buying an additional 2,300 shares during the last quarter. Brooklyn Investment Group raised its stake in KANZHUN by 3,115.4% in the first quarter. Brooklyn Investment Group now owns 2,926 shares of the company's stock valued at $56,000 after buying an additional 2,835 shares during the period. Finally, Asset Management One Co. Ltd. raised its stake in KANZHUN by 7.9% in the first quarter. Asset Management One Co. Ltd. now owns 45,585 shares of the company's stock valued at $874,000 after buying an additional 3,322 shares during the period. Institutional investors and hedge funds own 60.67% of the company's stock.

KANZHUN Trading Up 2.3%

KANZHUN stock traded up $0.52 during mid-day trading on Monday, reaching $23.62. The company had a trading volume of 4,371,979 shares, compared to its average volume of 4,868,406. KANZHUN LIMITED Sponsored ADR has a fifty-two week low of $11.48 and a fifty-two week high of $24.03. The company has a market cap of $9.69 billion, a P/E ratio of 35.25 and a beta of 0.43. The business has a fifty day simple moving average of $19.89 and a 200 day simple moving average of $18.04.

KANZHUN Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Barclays upped their price objective on KANZHUN from $22.00 to $25.00 and gave the company an "overweight" rating in a research note on Friday, August 22nd. Daiwa America upgraded KANZHUN from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 2nd. 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 note on Thursday, August 21st. Zacks Research lowered shares of 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 target on shares of KANZHUN from $20.00 to $24.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.