KANZHUN LIMITED Sponsored ADR $BZ Stock Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its KANZHUN stake by 99.5% in the third quarter, selling 3.5 million shares and retaining 17,566 shares worth approximately $260,000.
• Analysts maintain a generally neutral view of BZ, with two Buy ratings and three Holds. The average price target is $19.33, compared with shares opening at $16.46.
• KANZHUN reported quarterly revenue of $353.05 million and earnings of $0.33 per share, while insiders sold 16.6 million shares worth about $121.6 million over the past three months.

Assenagon Asset Management S.A. trimmed its stake in KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ - Free Report) by 99.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,566 shares of the company's stock after selling 3,501,105 shares during the quarter. Assenagon Asset Management S.A.'s holdings in KANZHUN were worth $260,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Parallel Advisors LLC raised its position in shares of KANZHUN by 5,732.4% in the 1st quarter. Parallel Advisors LLC now owns 2,158 shares of the company's stock worth $29,000 after buying an additional 2,121 shares during the period. OceanIQ Capital LLC acquired a new stake in KANZHUN during the 2nd quarter worth approximately $193,000. Rakuten Investment Management Inc. acquired a new stake in shares of KANZHUN in the second quarter worth $251,000. AXQ Capital LP acquired a new stake in shares of KANZHUN in the second quarter valued at about $378,000. Finally, Raiffeisen Bank International AG grew its holdings in KANZHUN by 286.4% during the 2nd quarter. Raiffeisen Bank International AG now owns 34,000 shares of the company's stock valued at $441,000 after purchasing an additional 25,200 shares in the last quarter. 60.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on BZ shares. Weiss Ratings raised KANZHUN from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, August 5th. Bank of America assumed coverage on KANZHUN in a report on Tuesday, August 18th. They issued a "neutral" rating and a $19.00 price target on the stock. Barclays increased their target price on KANZHUN from $19.00 to $20.00 and gave the company an "overweight" rating in a report on Thursday, August 27th. Finally, Sanford C. Bernstein restated an "outperform" rating and issued a $19.00 target price on shares of KANZHUN in a research note on Wednesday, August 26th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $19.33.

KANZHUN Price Performance

Shares of BZ stock opened at $16.46 on Friday. The stock's fifty day simple moving average is $15.88 and its 200 day simple moving average is $14.83. KANZHUN LIMITED Sponsored ADR has a one year low of $12.57 and a one year high of $22.81. The firm has a market cap of $6.82 billion, a price-to-earnings ratio of 17.65, a P/E/G ratio of 1.75 and a beta of 0.50.

KANZHUN (NASDAQ:BZ - Get Free Report) last announced its earnings results on Friday, August 14th. The company reported $0.33 EPS for the quarter. KANZHUN had a return on equity of 15.03% and a net margin of 53.16%. The company had revenue of $353.05 million for the quarter. On average, research analysts anticipate that KANZHUN LIMITED Sponsored ADR will post 1.00 earnings per share for the current year.

KANZHUN Dividend Announcement

The company also recently declared an annual dividend, which was paid on Wednesday, October 14th. Stockholders of record on Monday, September 28th were paid a dividend of $0.51 per share. This represents a dividend yield of 360.0%. The ex-dividend date of this dividend was Monday, September 28th. KANZHUN's dividend payout ratio is 35.92%.

Insider Buying and Selling at KANZHUN

In other news, CMO Xu Chen sold 400,000 shares of the firm's stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $8.50, for a total value of $3,400,000.00. Following the transaction, the chief marketing officer owned 153,340 shares of the company's stock, valued at approximately $1,303,390. This trade represents a 72.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Peng Zhao sold 15,170,000 shares of KANZHUN stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $7.25, for a total transaction of $109,982,500.00. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 16,574,304 shares of company stock worth $121,583,960. Company insiders own 5.60% of the company's stock.

About KANZHUN

KANZHUN Limited operates BOSS Zhipin, an online recruitment platform serving job seekers and employers in China. The platform is designed to facilitate direct communication between candidates and hiring companies, helping users discover job opportunities, exchange information and arrange interviews.

BOSS Zhipin is available through mobile applications and online platforms. Its services support recruitment across a broad range of industries and company sizes, including opportunities for professional, technical and other workers.

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