Trivest Advisors Ltd Buys New Stake in KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ)

Key Points

• Trivest Advisors Ltd acquired a new position in Kanzhun Limited, purchasing 204,000 shares valued at approximately $3.91 million, making it the 19th largest holding in their portfolio.
• Analysts show optimism towards Kanzhun, with Daiwa America upgrading the stock from a "hold" to a "strong-buy" rating, and a consensus rating of "Buy" with an average price target of $18.50.
• Currently, 60.67% of Kanzhun's stock is owned by institutional investors and hedge funds, indicating significant investor interest in the company.

Trivest Advisors Ltd purchased a new stake in KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 204,000 shares of the company's stock, valued at approximately $3,911,000. KANZHUN makes up about 0.3% of Trivest Advisors Ltd's portfolio, making the stock its 19th biggest position. Trivest Advisors Ltd owned approximately 0.05% of KANZHUN as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Krane Funds Advisors LLC lifted its position in shares of KANZHUN by 24.2% in the 1st quarter. Krane Funds Advisors LLC now owns 20,338,378 shares of the company's stock valued at $389,887,000 after acquiring an additional 3,961,488 shares in the last quarter. Vanguard Group Inc. lifted its position in KANZHUN by 15.1% in the 4th quarter. Vanguard Group Inc. now owns 14,397,602 shares of the company's stock worth $198,687,000 after buying an additional 1,885,658 shares in the last quarter. Capital World Investors lifted its position in KANZHUN by 636.3% in the 4th quarter. Capital World Investors now owns 13,828,732 shares of the company's stock worth $190,837,000 after buying an additional 11,950,467 shares in the last quarter. WFM ASIA BVI Ltd lifted its position in KANZHUN by 30.7% in the 4th quarter. WFM ASIA BVI Ltd now owns 7,907,300 shares of the company's stock worth $109,121,000 after buying an additional 1,855,500 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in KANZHUN by 44.8% in the 4th quarter. Bank of America Corp DE now owns 5,612,727 shares of the company's stock worth $77,456,000 after buying an additional 1,737,071 shares in the last quarter. Hedge funds and other institutional investors own 60.67% of the company's stock.

Analysts Set New Price Targets

Separately, Daiwa America upgraded shares of KANZHUN from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 2nd. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $18.50.

KANZHUN Stock Down 1.6%

Shares of BZ traded down $0.31 during mid-day trading on Friday, hitting $18.65. 1,802,959 shares of the company's stock were exchanged, compared to its average volume of 4,069,945. The firm has a fifty day moving average of $18.34 and a two-hundred day moving average of $17.01. KANZHUN LIMITED Sponsored ADR has a twelve month low of $10.57 and a twelve month high of $20.81. The stock has a market cap of $7.65 billion, a price-to-earnings ratio of 32.11 and a beta of 0.41.

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.