TT International Asset Management LTD Takes $503,000 Position in KANZHUN LIMITED Sponsored ADR $BZ

Key Points

• TT International Asset Management LTD has made a new investment of $503,000 in KANZHUN LIMITED by acquiring 28,207 shares during the 2nd quarter.
• Several hedge funds, including Brooklyn Investment Group and AQR Capital Management LLC, have also significantly increased their holdings in KANZHUN, indicating growing institutional interest.
• Research analysts have raised their price targets for KANZHUN shares, with Jefferies Financial Group setting a new target of $24.00 and many analysts giving it a "buy" rating.

TT International Asset Management LTD acquired a new stake in shares of KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 28,207 shares of the company's stock, valued at approximately $503,000.

Other large investors have also bought and sold shares of the company. China Universal Asset Management Co. Ltd. lifted its stake in KANZHUN by 1,304.3% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 64,600 shares of the company's stock valued at $1,238,000 after acquiring an additional 60,000 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of KANZHUN by 3.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 437,579 shares of the company's stock worth $8,388,000 after purchasing an additional 13,763 shares during the period. Nuveen Asset Management LLC raised its stake in shares of KANZHUN by 3.2% during the 4th quarter. Nuveen Asset Management LLC now owns 649,330 shares of the company's stock worth $8,961,000 after purchasing an additional 20,100 shares during the period. Citigroup Inc. raised its stake in shares of KANZHUN by 2.9% during the 1st quarter. Citigroup Inc. now owns 4,084,520 shares of the company's stock worth $78,300,000 after purchasing an additional 116,280 shares during the period. Finally, Mackenzie Financial Corp bought a new stake in shares of KANZHUN during the 1st quarter worth $1,607,000. 60.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BZ. Barclays lifted their target price on KANZHUN from $22.00 to $25.00 and gave the stock an "overweight" rating in a research note on Friday, August 22nd. Daiwa America upgraded KANZHUN from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 2nd. UBS Group upgraded KANZHUN from a "neutral" rating to a "buy" rating and set a $26.00 price objective on the stock in a research note on Thursday, August 21st. Zacks Research upgraded KANZHUN from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 12th. Finally, Jefferies Financial Group boosted their price objective on KANZHUN from $20.00 to $24.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, KANZHUN currently has a consensus rating of "Buy" and a consensus price target of $21.17.

KANZHUN Price Performance

Shares of BZ traded down $0.52 during midday trading on Monday, hitting $23.76. 3,551,867 shares of the company traded hands, compared to its average volume of 4,218,791. The stock has a 50-day moving average of $21.85 and a 200-day moving average of $18.94. KANZHUN LIMITED Sponsored ADR has a one year low of $12.16 and a one year high of $25.26. The firm has a market cap of $9.79 billion, a P/E ratio of 35.46 and a beta of 0.43.

KANZHUN Dividend Announcement

The business also recently declared 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%.

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.