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 lessened its stake in KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ - Free Report) by 39.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,166,602 shares of the company's stock after selling 1,401,302 shares during the quarter. Wellington Management Group LLP owned approximately 0.56% of KANZHUN worth $41,534,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. First Horizon Advisors Inc. purchased a new position in KANZHUN in the 1st quarter valued at approximately $25,000. Brooklyn Investment Group grew its stake in 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 buying an additional 2,835 shares in the last quarter. Tudor Investment Corp ET AL bought a new position in KANZHUN in the 4th quarter valued at $160,000. Quantinno Capital Management LP bought a new position in KANZHUN in the 4th quarter valued at $163,000. Finally, Lighthouse Investment Partners LLC bought a new position in KANZHUN in the 4th quarter valued at $166,000. 60.67% of the stock is currently owned by hedge funds and other institutional investors.

KANZHUN Trading Up 0.7%

BZ stock traded up $0.17 during midday trading on Thursday, reaching $23.02. 1,825,127 shares of the company's stock traded hands, compared to its average volume of 4,164,323. The stock's 50-day moving average is $19.66 and its 200 day moving average is $17.90. The stock has a market cap of $9.44 billion, a P/E ratio of 34.35 and a beta of 0.41. KANZHUN LIMITED Sponsored ADR has a 52-week low of $11.48 and a 52-week high of $24.03.

KANZHUN Dividend Announcement

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 paid a $0.084 dividend. The ex-dividend date of this dividend is Wednesday, October 8th. This represents a dividend yield of 60.0%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Daiwa America raised shares of KANZHUN from a "hold" rating to a "strong-buy" rating in a report on Monday, June 2nd. Barclays boosted their price target on shares of KANZHUN from $22.00 to $25.00 and gave the stock an "overweight" rating in a research note on Friday, August 22nd. Jefferies Financial Group boosted 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 cut shares of KANZHUN from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 14th. Finally, UBS Group upgraded shares of KANZHUN from a "neutral" rating to a "buy" rating and set a $26.00 price target on the stock in a research report on Thursday, August 21st. One investment 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $21.17.

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.