UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Grows Position in 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 first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,552,922 shares of the company's stock after purchasing an additional 8,946,253 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 2.45% of KANZHUN worth $183,130,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of BZ. First Horizon Advisors Inc. bought a new stake in shares of KANZHUN in the first quarter valued at about $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of KANZHUN in the 1st quarter valued at approximately $27,000. Brooklyn Investment Group boosted its stake in shares of KANZHUN by 3,115.4% in the 1st quarter. Brooklyn Investment Group now owns 2,926 shares of the company's stock valued at $56,000 after purchasing an additional 2,835 shares in the last quarter. Quantinno Capital Management LP acquired a new stake in KANZHUN during the 4th quarter worth approximately $163,000. Finally, Lighthouse Investment Partners LLC acquired a new stake in KANZHUN during the 4th quarter worth approximately $166,000. Institutional investors own 60.67% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Barclays lifted their target price 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. Jefferies Financial Group lifted their price objective on shares of KANZHUN from $20.00 to $24.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. UBS Group upgraded 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. Zacks Research upgraded shares of KANZHUN from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 12th. Finally, Daiwa America upgraded shares of KANZHUN from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 2nd. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, KANZHUN currently has an average rating of "Buy" and an average target price of $21.17.

KANZHUN Stock Up 0.8%

BZ traded up $0.21 during trading on Wednesday, hitting $25.02. 1,824,261 shares of the company traded hands, compared to its average volume of 4,125,595. The firm has a market cap of $10.31 billion, a P/E ratio of 37.34 and a beta of 0.44. The stock's fifty day moving average is $21.40 and its 200 day moving average is $18.71. KANZHUN LIMITED Sponsored ADR has a one year low of $12.06 and a one year high of $25.26.

KANZHUN Announces Dividend

The firm also recently disclosed a full year 25 dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Wednesday, October 8th will be issued 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.