105,645 Shares in KANZHUN LIMITED Sponsored ADR $BZ Bought by StepStone Group LP

Key Points

• StepStone Group LP invested approximately $2.03 million in KANZHUN LIMITED, acquiring 105,645 shares, which now represent about 2.1% of their total holdings.
• Several analysts have upgraded KANZHUN’s stock ratings, with UBS Group moving from "neutral" to "buy" and setting a price target of $26.00.
• KANZHUN announced a full-year dividend of $0.084 per share, with an impressive dividend yield of 60.0%, scheduled for payment on October 16th.

StepStone Group LP purchased a new position in KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 105,645 shares of the company's stock, valued at approximately $2,025,000. KANZHUN comprises approximately 2.1% of StepStone Group LP's holdings, making the stock its 9th largest position.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Krane Funds Advisors LLC raised its holdings in shares of KANZHUN by 24.2% in the first quarter. Krane Funds Advisors LLC now owns 20,338,378 shares of the company's stock worth $389,887,000 after buying an additional 3,961,488 shares during the last quarter. Vanguard Group Inc. boosted its position in KANZHUN by 2.9% in the first quarter. Vanguard Group Inc. now owns 14,821,755 shares of the company's stock valued at $284,133,000 after buying an additional 424,153 shares during the last quarter. WFM ASIA BVI Ltd boosted its position in KANZHUN by 9.5% in the first quarter. WFM ASIA BVI Ltd now owns 8,658,500 shares of the company's stock valued at $165,983,000 after buying an additional 751,200 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in KANZHUN by 31.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,325,904 shares of the company's stock valued at $159,609,000 after buying an additional 1,970,441 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in KANZHUN by 44.8% in the fourth quarter. Bank of America Corp DE now owns 5,612,727 shares of the company's stock valued at $77,456,000 after buying an additional 1,737,071 shares during the last quarter. Hedge funds and other institutional investors own 60.67% of the company's stock.

Analyst Ratings Changes

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

KANZHUN Price Performance

Shares of NASDAQ BZ traded down $0.08 during midday trading on Wednesday, hitting $22.85. 3,301,464 shares of the company's stock were exchanged, compared to its average volume of 4,699,919. KANZHUN LIMITED Sponsored ADR has a twelve month low of $10.57 and a twelve month high of $24.03. The company has a market cap of $9.37 billion, a PE ratio of 34.22 and a beta of 0.41. The firm's fifty day simple moving average is $19.66 and its 200-day simple moving average is $17.90.

KANZHUN Announces Dividend

The company also recently declared a full year 25 dividend, which will be paid on Thursday, October 16th. Investors of record on Wednesday, October 8th will be paid a dividend of $0.084 per share. This represents a yield of 60.0%. The ex-dividend date is Monday, October 6th.

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.