Wellington Management Group LLP Sells 1,401,302 Shares of KANZHUN LIMITED Sponsored ADR $BZ

Key Points

• Wellington Management Group LLP reduced its stake in KANZHUN LIMITED by 39.3% in the first quarter, now holding approximately 2,166,602 shares valued at $41.53 million.
• Recently, several hedge funds have modified their holdings in KANZHUN, with institutional investors owning 60.67% of the stock.
• KANZHUN announced a dividend of $0.084 per share to be paid on October 16th, reflecting a yield of 60.0%.

Wellington Management Group LLP lowered its position in KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ - Free Report) by 39.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,166,602 shares of the company's stock after selling 1,401,302 shares during the period. Wellington Management Group LLP owned about 0.56% of KANZHUN worth $41,534,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Korea Investment CORP grew its position in KANZHUN by 15.5% during the first quarter. Korea Investment CORP now owns 206,190 shares of the company's stock valued at $3,953,000 after buying an additional 27,600 shares during the period. Brooklyn Investment Group grew its position in KANZHUN by 3,115.4% during the first quarter. Brooklyn Investment Group now owns 2,926 shares of the company's stock valued at $56,000 after buying an additional 2,835 shares during the period. Aberdeen Group plc grew its position in KANZHUN by 14.5% during the first quarter. Aberdeen Group plc now owns 234,126 shares of the company's stock valued at $4,488,000 after buying an additional 29,606 shares during the period. WFM ASIA BVI Ltd grew its position in KANZHUN by 9.5% during the first quarter. WFM ASIA BVI Ltd now owns 8,658,500 shares of the company's stock valued at $165,983,000 after buying an additional 751,200 shares during the period. Finally, FengHe Fund Management Pte. Ltd. bought a new position in KANZHUN during the first quarter valued at about $4,463,000. Hedge funds and other institutional investors own 60.67% of the company's stock.

KANZHUN Trading Up 2.3%

Shares of BZ stock traded up $0.52 during trading hours on Friday, reaching $23.62. The stock had a trading volume of 4,371,979 shares, compared to its average volume of 4,789,135. The stock's fifty day simple moving average is $19.89 and its 200 day simple moving average is $18.01. KANZHUN LIMITED Sponsored ADR has a 12 month low of $11.48 and a 12 month high of $24.03. The firm has a market capitalization of $9.69 billion, a PE ratio of 35.25 and a beta of 0.41.

KANZHUN Announces Dividend

The company also recently disclosed a full year 25 dividend, which will be paid on Thursday, October 23rd. Stockholders of record on Wednesday, October 8th will be given a $0.084 dividend. This represents a dividend yield of 60.0%. The ex-dividend date is Wednesday, October 8th.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on BZ shares. Zacks Research lowered shares of KANZHUN from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 14th. Daiwa America upgraded shares of KANZHUN from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 2nd. UBS Group upgraded shares of KANZHUN from a "neutral" rating to a "buy" rating and set a $26.00 price target for the company in a research report on Thursday, August 21st. Barclays increased their price target on shares of KANZHUN from $22.00 to $25.00 and gave the company an "overweight" rating in a research report on Friday, August 22nd. Finally, Jefferies Financial Group increased their price target 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. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price 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.