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Mirae Asset Global Investments Co. Ltd. Lowers Stake in KANZHUN LIMITED Sponsored ADR $BZ

KANZHUN logo with Computer and Technology background

Key Points

  • Mirae Asset Global Investments Co. Ltd. has significantly reduced its stake in KANZHUN LIMITED, selling 95.2% of its shares during Q2 and now holds only 254,049 shares valued at approximately $4.5 million.
  • The company recently announced a full-year dividend of $0.084 per share, translating to a remarkable 60.0% dividend yield, with the payment scheduled for October 23rd.
  • Analysts have generally expressed positive outlooks for KANZHUN, with several upgrades leading to a consensus rating of "Buy" and a target price increase from $22.00 to $25.00.
  • Interested in KANZHUN? Here are five stocks we like better.

Mirae Asset Global Investments Co. Ltd. lessened its holdings in KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ - Free Report) by 95.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 254,049 shares of the company's stock after selling 5,059,485 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.06% of KANZHUN worth $4,532,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. China Universal Asset Management Co. Ltd. boosted its position in shares of KANZHUN by 1,304.3% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 64,600 shares of the company's stock worth $1,238,000 after purchasing an additional 60,000 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in KANZHUN by 3.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 437,579 shares of the company's stock worth $8,388,000 after acquiring an additional 13,763 shares in the last quarter. Citigroup Inc. grew its stake in shares of KANZHUN by 2.9% in the first quarter. Citigroup Inc. now owns 4,084,520 shares of the company's stock worth $78,300,000 after acquiring an additional 116,280 shares during the last quarter. Mackenzie Financial Corp bought a new position in shares of KANZHUN during the first quarter valued at $1,607,000. Finally, Diversified Trust Co purchased a new position in shares of KANZHUN in the 1st quarter worth about $530,000. Institutional investors own 60.67% of the company's stock.

KANZHUN Price Performance

BZ stock opened at $24.33 on Tuesday. KANZHUN LIMITED Sponsored ADR has a 1 year low of $12.16 and a 1 year high of $25.26. The company has a market cap of $10.02 billion, a P/E ratio of 36.31 and a beta of 0.43. The stock's fifty day moving average price is $22.67 and its 200-day moving average price is $19.21.

KANZHUN Announces Dividend

The company also recently declared a full year 25 dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Wednesday, October 8th will be paid a dividend of $0.084 per share. This represents a dividend yield of 60.0%. The ex-dividend date is Wednesday, October 8th.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Zacks Research raised shares of KANZHUN from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 12th. Barclays increased their price target on shares of KANZHUN from $22.00 to $25.00 and gave the company an "overweight" rating in a report on Friday, August 22nd. Weiss Ratings restated a "buy (b-)" rating on shares of KANZHUN in a report on Saturday, September 27th. Jefferies Financial Group increased their target price on KANZHUN from $20.00 to $24.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Finally, UBS Group raised KANZHUN from a "neutral" rating to a "buy" rating and set a $26.00 target price for the company in a report on Thursday, August 21st. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $21.17.

Check Out Our Latest Report on BZ

About KANZHUN

(Free Report)

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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Want to see what other hedge funds are holding BZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ - Free Report).

Institutional Ownership by Quarter for KANZHUN (NASDAQ:BZ)

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