Nan Fung Trinity HK Ltd. Sells 721,000 Shares of KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ)

Key Points

• Nan Fung Trinity HK Ltd. reduced its holdings in KANZHUN LIMITED Sponsored ADR by 40.6%, owning approximately 1,055,900 shares, which is valued at about $20.24 million.
• KANZHUN stock received an upgrade from Daiwa America from a "hold" rating to a "strong-buy" rating, reflecting growing confidence among analysts.
• The stock has seen a significant range in value, with a 52-week low of $10.57 and a high of $20.81, currently trading around $19.83.

Nan Fung Trinity HK Ltd. decreased its position in KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ - Free Report) by 40.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,055,900 shares of the company's stock after selling 721,000 shares during the quarter. KANZHUN accounts for approximately 3.2% of Nan Fung Trinity HK Ltd.'s holdings, making the stock its 11th biggest holding. Nan Fung Trinity HK Ltd. owned approximately 0.27% of KANZHUN worth $20,242,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Quadrant Capital Group LLC grew its stake in KANZHUN by 403.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,781 shares of the company's stock worth $25,000 after buying an additional 1,427 shares during the last quarter. First Horizon Advisors Inc. bought a new stake in KANZHUN during the first quarter worth about $25,000. Townsquare Capital LLC bought a new stake in KANZHUN during the fourth quarter worth about $157,000. Tudor Investment Corp ET AL bought a new stake in KANZHUN during the fourth quarter worth about $160,000. Finally, Quantinno Capital Management LP bought a new stake in KANZHUN during the fourth quarter worth about $163,000. Institutional investors and hedge funds own 60.67% of the company's stock.

KANZHUN Trading Down 2.2%

Shares of BZ traded down $0.44 during trading hours on Wednesday, hitting $19.15. 1,247,519 shares of the stock traded hands, compared to its average volume of 2,800,946. The business has a fifty day moving average of $18.28 and a 200-day moving average of $16.96. The firm has a market capitalization of $7.86 billion, a PE ratio of 33.02 and a beta of 0.41. KANZHUN LIMITED Sponsored ADR has a 1-year low of $10.57 and a 1-year high of $20.81.

Analyst Ratings Changes

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 issued a strong buy rating to the stock. According to data from MarketBeat, KANZHUN presently has an average rating of "Buy" and a consensus price target of $18.50.

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.