Woodline Partners LP Sells 245,110 Shares of KANZHUN LIMITED Sponsored ADR $BZ

Key Points

• Woodline Partners LP reduced its holdings in Kanzhun Limited by 37.2% in Q1, now owning approximately 0.11% of the company valued at $7.9 million after selling 245,110 shares.
• The company declared a full year $0.084 dividend per share, resulting in a yield of 60.0%, to be paid on October 23rd.
• Analysts have recently increased KANZHUN's price targets, with Barclays raising it to $25.00 and UBS upgrading it to a "buy" rating with a target of $26.00.

Woodline Partners LP cut its stake in shares of KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ - Free Report) by 37.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 414,141 shares of the company's stock after selling 245,110 shares during the period. Woodline Partners LP owned about 0.11% of KANZHUN worth $7,939,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. bought a new stake in KANZHUN in the first quarter worth approximately $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in KANZHUN in the first quarter worth approximately $27,000. Brooklyn Investment Group grew its position in KANZHUN by 3,115.4% in the first quarter. Brooklyn Investment Group now owns 2,926 shares of the company's stock worth $56,000 after acquiring an additional 2,835 shares in the last quarter. AQR Capital Management LLC bought a new stake in KANZHUN in the first quarter worth approximately $201,000. Finally, Quantinno Capital Management LP bought a new stake in KANZHUN in the fourth quarter worth approximately $163,000. 60.67% of the stock is owned by hedge funds and other institutional investors.

KANZHUN Price Performance

Shares of BZ traded up $0.18 during trading hours on Wednesday, hitting $24.99. The stock had a trading volume of 1,616,746 shares, compared to its average volume of 4,124,937. The company's fifty day moving average is $21.40 and its two-hundred day moving average is $18.71. KANZHUN LIMITED Sponsored ADR has a 52 week low of $12.06 and a 52 week high of $25.26. The stock has a market capitalization of $10.29 billion, a price-to-earnings ratio of 37.31 and a beta of 0.44.

KANZHUN Dividend Announcement

The business 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 issued a dividend of $0.084 per share. The ex-dividend date of this dividend is Wednesday, October 8th. This represents a yield of 60.0%.

Analyst Upgrades and Downgrades

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