Balyasny Asset Management L.P. Boosts Stock Position in Kanzhun Limited (NASDAQ:BZ)

Balyasny Asset Management L.P. increased its holdings in Kanzhun Limited (NASDAQ:BZ - Free Report) by 18.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 203,629 shares of the company's stock after purchasing an additional 32,105 shares during the period. Balyasny Asset Management L.P. owned 0.05% of Kanzhun worth $2,810,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quadrant Capital Group LLC grew its holdings in Kanzhun by 403.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,781 shares of the company's stock valued at $25,000 after buying an additional 1,427 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Kanzhun by 107.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,976 shares of the company's stock valued at $41,000 after acquiring an additional 1,542 shares during the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in shares of Kanzhun in the fourth quarter valued at $63,000. Townsquare Capital LLC bought a new stake in Kanzhun in the fourth quarter worth $157,000. Finally, Tudor Investment Corp ET AL bought a new stake in Kanzhun in the fourth quarter worth $160,000. 60.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BZ has been the subject of several research reports. Barclays increased their price objective on shares of Kanzhun from $16.00 to $22.00 and gave the company an "overweight" rating in a research report on Thursday, March 13th. Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $18.00 price target on shares of Kanzhun in a report on Wednesday, March 12th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Kanzhun presently has a consensus rating of "Moderate Buy" and an average price target of $21.71.

Kanzhun Price Performance

Shares of Kanzhun stock traded down $0.38 during trading on Thursday, hitting $18.10. The stock had a trading volume of 3,842,866 shares, compared to its average volume of 4,585,853. Kanzhun Limited has a 12 month low of $10.57 and a 12 month high of $22.74. The firm's fifty day simple moving average is $16.82 and its 200-day simple moving average is $15.29. The stock has a market cap of $7.05 billion, a PE ratio of 40.22 and a beta of 0.35.

Kanzhun Company 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.