Serenity Capital Management PTE. LTD. Takes Position in KANZHUN LIMITED Sponsored ADR $BZ

Key Points

• Serenity Capital Management acquired a significant stake in KANZHUN LIMITED, buying 1,200,199 shares valued at approximately $23 million, making it the firm's second-largest holding.
• KANZHUN recently announced a dividend of $0.084 per share, with a remarkable dividend yield of 60.0%, to be paid on October 23rd.
• Analysts are optimistic about KANZHUN's stock performance, with several firms raising their price targets, including Jefferies, which increased its target from $20 to $24, giving the stock a "buy" rating.

Serenity Capital Management PTE. LTD. bought a new stake in shares of KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,200,199 shares of the company's stock, valued at approximately $23,008,000. KANZHUN accounts for approximately 13.8% of Serenity Capital Management PTE. LTD.'s investment portfolio, making the stock its 2nd biggest holding. Serenity Capital Management PTE. LTD. owned about 0.31% of KANZHUN at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in BZ. First Horizon Advisors Inc. bought a new stake in shares of KANZHUN in the first quarter valued at about $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of KANZHUN in the first quarter valued at approximately $27,000. Brooklyn Investment Group increased its holdings in shares of 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 purchasing an additional 2,835 shares in the last quarter. Tudor Investment Corp ET AL acquired a new stake in shares of KANZHUN in the fourth quarter valued at approximately $160,000. Finally, Quantinno Capital Management LP acquired a new stake in shares of KANZHUN in the fourth quarter valued at approximately $163,000. Institutional investors own 60.67% of the company's stock.

KANZHUN Stock Performance

BZ stock opened at $23.98 on Monday. The company has a fifty day moving average price of $20.49 and a 200-day moving average price of $18.32. The company has a market capitalization of $9.84 billion, a P/E ratio of 35.79 and a beta of 0.43. KANZHUN LIMITED Sponsored ADR has a 52-week low of $11.81 and a 52-week high of $24.33.

KANZHUN Announces Dividend

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

Wall Street Analyst Weigh In

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

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.

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