StepStone Group LP Acquires Shares of 105,645 KANZHUN LIMITED Sponsored ADR $BZ

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 acquired a new stake in shares of KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 105,645 shares of the company's stock, valued at approximately $2,025,000. KANZHUN comprises approximately 2.1% of StepStone Group LP's investment portfolio, making the stock its 9th largest position.

Other hedge funds have also recently made changes to their positions in the company. First Horizon Advisors Inc. bought a new position in KANZHUN in the first quarter worth approximately $25,000. Brooklyn Investment Group raised its position in KANZHUN by 3,115.4% in the first quarter. Brooklyn Investment Group now owns 2,926 shares of the company's stock worth $56,000 after acquiring an additional 2,835 shares during the period. Tudor Investment Corp ET AL bought a new position in KANZHUN in the fourth quarter worth approximately $160,000. Quantinno Capital Management LP bought a new position in KANZHUN in the fourth quarter worth approximately $163,000. Finally, Lighthouse Investment Partners LLC bought a new position in KANZHUN in the fourth quarter worth approximately $166,000. 60.67% of the stock is owned by hedge funds and other institutional investors.

KANZHUN Stock Performance

Shares of NASDAQ BZ traded up $0.46 during midday trading on Friday, reaching $23.56. The stock had a trading volume of 1,439,623 shares, compared to its average volume of 4,155,433. The stock has a 50-day moving average of $19.77 and a 200-day moving average of $17.95. KANZHUN LIMITED Sponsored ADR has a 12-month low of $11.48 and a 12-month high of $24.03. The company has a market capitalization of $9.67 billion, a price-to-earnings ratio of 35.11 and a beta of 0.41.

KANZHUN Dividend Announcement

The business also recently announced a full year 25 dividend, which will be paid on Thursday, October 23rd. Investors 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%.

Analyst Upgrades and Downgrades

BZ has been the topic of several recent research reports. Jefferies Financial Group increased their price target on shares of KANZHUN from $20.00 to $24.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Daiwa America upgraded shares of KANZHUN from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 2nd. Barclays increased their price target on shares of KANZHUN from $22.00 to $25.00 and gave the stock an "overweight" rating in a research report on Friday, August 22nd. Zacks Research cut shares of KANZHUN from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 14th. Finally, UBS Group raised 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $21.17.

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.