UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Purchases 8,946,253 Shares of KANZHUN LIMITED Sponsored ADR $BZ

Key Points

• UBS Asset Management significantly increased its stake in KANZHUN LIMITED by 1,474.7% during the first quarter, owning nearly 9.6 million shares valued at approximately $183 million.
• KANZHUN recently announced a $0.084 dividend with a 60% yield, set to be paid on October 23, 2024, with stockholders of record on October 8.
• Analyst ratings for KANZHUN show a consensus of "Moderate Buy" with various price target increases, highlighting positive sentiment following China's reopening.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ - Free Report) by 1,474.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,552,922 shares of the company's stock after purchasing an additional 8,946,253 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 2.45% of KANZHUN worth $183,130,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Serenity Capital Management PTE. LTD. bought a new position in shares of KANZHUN in the first quarter valued at $23,008,000. Goldman Sachs Group Inc. increased its stake in shares of KANZHUN by 45.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,629,115 shares of the company's stock worth $165,420,000 after purchasing an additional 2,678,683 shares during the last quarter. Temasek Holdings Private Ltd lifted its stake in KANZHUN by 22.9% in the 1st quarter. Temasek Holdings Private Ltd now owns 947,865 shares of the company's stock valued at $18,171,000 after purchasing an additional 176,338 shares during the last quarter. Millennium Management LLC lifted its stake in KANZHUN by 85.3% in the 1st quarter. Millennium Management LLC now owns 942,035 shares of the company's stock valued at $18,059,000 after purchasing an additional 433,705 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in KANZHUN during the first quarter worth about $27,000. Institutional investors and hedge funds own 60.67% of the company's stock.

Analyst Ratings Changes

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

KANZHUN Stock Performance

NASDAQ:BZ traded down $0.02 during mid-day trading on Friday, reaching $24.54. 3,003,237 shares of the company's stock were exchanged, compared to its average volume of 4,418,789. The firm has a market capitalization of $10.11 billion, a PE ratio of 36.63 and a beta of 0.43. KANZHUN LIMITED Sponsored ADR has a one year low of $11.85 and a one year high of $24.72. The business's fifty day simple moving average is $21.14 and its two-hundred day simple moving average is $18.61.

KANZHUN Dividend Announcement

The business also recently declared 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 of this dividend is Wednesday, October 8th. This represents a yield of 60.0%.

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.