Mackenzie Financial Corp Takes $1.61 Million Position in KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ)

Key Points

• Mackenzie Financial Corp purchased 83,840 shares of Kanzhun Limited valued at approximately $1,607,000 in Q1.
• Multiple hedge funds increased their stakes in KANZHUN, with notable purchases including Baillie Gifford & Co. acquiring a position worth around $71.1 million.
• Analysts have upgraded KANZHUN from a "hold" to a "strong-buy" rating, with a current consensus target price of $18.50.

Mackenzie Financial Corp purchased a new stake in KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 83,840 shares of the company's stock, valued at approximately $1,607,000.

A number of other hedge funds also recently made changes to their positions in BZ. Krane Funds Advisors LLC boosted its holdings in 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 acquiring an additional 3,961,488 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of KANZHUN by 15.1% in the 4th quarter. Vanguard Group Inc. now owns 14,397,602 shares of the company's stock valued at $198,687,000 after purchasing an additional 1,885,658 shares during the last quarter. Capital World Investors boosted its stake in shares of KANZHUN by 636.3% in the 4th quarter. Capital World Investors now owns 13,828,732 shares of the company's stock valued at $190,837,000 after purchasing an additional 11,950,467 shares during the last quarter. Bank of America Corp DE increased its position in shares of KANZHUN by 44.8% during the fourth quarter. Bank of America Corp DE now owns 5,612,727 shares of the company's stock worth $77,456,000 after buying an additional 1,737,071 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in 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 buying an additional 5,112,824 shares during the last quarter. 60.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Daiwa America raised shares of KANZHUN from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 2nd. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, KANZHUN has a consensus rating of "Buy" and an average price target of $18.50.

KANZHUN Stock Performance

Shares of KANZHUN stock traded up $0.70 on Friday, reaching $21.23. 1,385,183 shares of the company's stock were exchanged, compared to its average volume of 4,065,248. The firm's 50-day moving average is $18.55 and its two-hundred day moving average is $17.20. The company has a market capitalization of $8.71 billion, a P/E ratio of 36.56 and a beta of 0.41. KANZHUN LIMITED Sponsored ADR has a 52 week low of $10.57 and a 52 week high of $21.27.

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.