Russell Investments Group Ltd. Trims Stock Holdings in KANZHUN LIMITED Sponsored ADR $BZ

Key Points

• Russell Investments Group Ltd. has reduced its holdings in KANZHUN LIMITED by 17.4%, now owning 1,129,069 shares valued at approximately $21.6 million.
• Large investors such as Krane Funds Advisors LLC and Mirae Asset Global Investments Co. Ltd. have significantly increased their stakes in KANZHUN, indicating growing institutional interest.
• The stock received a rating upgrade from Daiwa America, moving from a "hold" to a "strong-buy" rating, reflecting positive sentiment from analysts.

Russell Investments Group Ltd. trimmed its stake in KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ - Free Report) by 17.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,129,069 shares of the company's stock after selling 237,253 shares during the quarter. Russell Investments Group Ltd. owned 0.29% of KANZHUN worth $21,646,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in BZ. First Horizon Advisors Inc. bought a new stake in KANZHUN in the first quarter worth $25,000. Townsquare Capital LLC bought a new position in shares of KANZHUN during the fourth quarter valued at $157,000. Tudor Investment Corp ET AL bought a new position in shares of KANZHUN during the fourth quarter valued at $160,000. Quantinno Capital Management LP bought a new position in shares of KANZHUN during the fourth quarter valued at $163,000. Finally, Lighthouse Investment Partners LLC bought a new position in shares of KANZHUN during the fourth quarter valued at $166,000. 60.67% of the stock is owned by institutional investors.

KANZHUN Trading Down 2.4%

BZ stock traded down $0.5550 during trading on Friday, reaching $22.9850. The stock had a trading volume of 2,282,952 shares, compared to its average volume of 4,100,063. KANZHUN LIMITED Sponsored ADR has a 52 week low of $10.57 and a 52 week high of $24.03. The stock's 50 day moving average is $19.26 and its two-hundred day moving average is $17.68. The firm has a market cap of $9.43 billion, a PE ratio of 34.29 and a beta of 0.41.

KANZHUN Dividend Announcement

The company also recently announced a full year 25 dividend, which will be paid on Thursday, October 16th. Shareholders of record on Wednesday, October 8th will be issued a $0.084 dividend. The ex-dividend date of this dividend is Monday, October 6th. This represents a yield of 60.0%.

Analysts Set New Price Targets

BZ has been the topic of a number of research analyst reports. Zacks Research downgraded KANZHUN from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 14th. UBS Group raised KANZHUN from a "neutral" rating to a "buy" rating and set a $26.00 price target on the stock in a report on Thursday. Barclays upped their price target on KANZHUN from $22.00 to $25.00 and gave the company an "overweight" rating in a report on Friday. Jefferies Financial Group upped their price target on KANZHUN from $20.00 to $24.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Daiwa America raised KANZHUN from a "hold" rating to a "strong-buy" rating in a 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 given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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.