Royal Bank of Canada Acquires 1,623,117 Shares of KANZHUN LIMITED Sponsored ADR $BZ

Key Points

• Royal Bank of Canada increased its ownership in KANZHUN LIMITED by 268.6%, acquiring over 1.6 million shares, bringing its total to about 2.2 million shares valued at approximately $42.7 million.
• KANZHUN recently announced a dividend of $0.084 per share, with a significant dividend yield of 60.0%, scheduled to be paid on October 23rd.
• Analysts have varying ratings on KANZHUN, with price targets ranging from $24.00 to $26.00, indicating optimism in the stock's future performance amidst market improvements.

Royal Bank of Canada raised its stake in shares of KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ - Free Report) by 268.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,227,311 shares of the company's stock after purchasing an additional 1,623,117 shares during the period. Royal Bank of Canada owned 0.57% of KANZHUN worth $42,697,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BZ. First Horizon Advisors Inc. acquired a new stake in shares of KANZHUN in the first quarter valued at about $25,000. Brooklyn Investment Group boosted its holdings in KANZHUN by 3,115.4% in the first quarter. Brooklyn Investment Group now owns 2,926 shares of the company's stock valued at $56,000 after acquiring an additional 2,835 shares during the last quarter. Tudor Investment Corp ET AL acquired a new stake in KANZHUN during the 4th quarter valued at approximately $160,000. Quantinno Capital Management LP acquired a new stake in KANZHUN during the 4th quarter valued at approximately $163,000. Finally, Lighthouse Investment Partners LLC bought a new position in KANZHUN during the 4th quarter worth approximately $166,000. 60.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BZ has been the subject of several recent analyst reports. Zacks Research cut shares of KANZHUN from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 14th. Jefferies Financial Group increased their price target on KANZHUN from $20.00 to $24.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Daiwa America raised KANZHUN from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 2nd. Barclays increased their price target on KANZHUN from $22.00 to $25.00 and gave the stock an "overweight" rating in a report on Friday, August 22nd. Finally, UBS Group upgraded shares of KANZHUN from a "neutral" rating to a "buy" rating and set a $26.00 price objective for the company in a research note on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $21.17.

KANZHUN Stock Up 1.2%

NASDAQ:BZ traded up $0.30 on Thursday, hitting $24.56. The stock had a trading volume of 3,564,609 shares, compared to its average volume of 4,395,500. KANZHUN LIMITED Sponsored ADR has a 52 week low of $11.85 and a 52 week high of $24.72. The business's fifty day moving average is $21.01 and its 200 day moving average is $18.51. The company has a market cap of $10.08 billion, a PE ratio of 36.66 and a beta of 0.44.

KANZHUN Dividend Announcement

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

KANZHUN Company 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.