Mackenzie Financial Corp Buys Shares of 83,840 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 bought a new stake in KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 83,840 shares of the company's stock, valued at approximately $1,607,000.

A number of other hedge funds have also modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of KANZHUN by 7.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 223,788 shares of the company's stock worth $4,290,000 after purchasing an additional 15,353 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its stake in shares of KANZHUN by 1,298.0% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 142,600 shares of the company's stock worth $2,734,000 after purchasing an additional 132,400 shares in the last quarter. Baillie Gifford & Co. purchased a new position in shares of KANZHUN during the 1st quarter worth approximately $71,111,000. New York State Common Retirement Fund purchased a new position in shares of KANZHUN during the 1st quarter worth approximately $3,527,000. Finally, Genus Capital Management Inc. increased its stake in shares of KANZHUN by 200.0% during the 1st quarter. Genus Capital Management Inc. now owns 13,000 shares of the company's stock worth $249,000 after purchasing an additional 26,000 shares in the last quarter. 60.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

KANZHUN Stock Performance

Shares of NASDAQ BZ opened at $19.29 on Tuesday. KANZHUN LIMITED Sponsored ADR has a 1 year low of $10.57 and a 1 year high of $20.81. The firm's 50 day moving average price is $18.36 and its 200 day moving average price is $17.09. The firm has a market cap of $7.91 billion, a P/E ratio of 33.26 and a beta of 0.41.

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.

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