KANZHUN (NASDAQ:BZ) Reaches New 12-Month High - What's Next?

Key Points

• Kanzhun Limited shares reached a new 52-week high of $24.39, with a trading volume of over 1.8 million shares, indicating strong market interest.
• Several analysts have issued positive ratings for Kanzhun, including a target price increase from $22.00 to $25.00 by Barclays, and a new "buy" rating from UBS Group.
• The company has declared a dividend of $0.084 per share, with a payment date set for October 23rd, providing a substantial yield of 60.0% to shareholders.

KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ - Get Free Report) shares reached a new 52-week high on Wednesday . The stock traded as high as $24.39 and last traded at $24.25, with a volume of 1806924 shares trading hands. The stock had previously closed at $24.00.

Analysts Set New Price Targets

BZ has been the subject of several research analyst reports. UBS Group raised shares of KANZHUN from a "neutral" rating to a "buy" rating and set a $26.00 target price for the company in a research note on Thursday, August 21st. Barclays raised their target price 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. Daiwa America raised shares of KANZHUN from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 2nd. Zacks Research cut shares of KANZHUN from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 14th. Finally, Jefferies Financial Group raised their target price 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. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $21.17.

KANZHUN Stock Up 1.1%

The stock's 50-day simple moving average is $20.75 and its two-hundred day simple moving average is $18.41. The company has a market capitalization of $9.95 billion, a price-to-earnings ratio of 36.21 and a beta of 0.44.

KANZHUN Announces Dividend

The business 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 given a dividend of $0.084 per share. The ex-dividend date is Wednesday, October 8th. This represents a yield of 60.0%.

Institutional Investors Weigh In On KANZHUN

A number of hedge funds have recently modified their holdings of the business. Krane Funds Advisors LLC raised its position in shares of KANZHUN by 24.2% in the first quarter. Krane Funds Advisors LLC now owns 20,338,378 shares of the company's stock valued at $389,887,000 after buying an additional 3,961,488 shares during the last quarter. Schroder Investment Management Group lifted its position in shares of KANZHUN by 15.8% during the second quarter. Schroder Investment Management Group now owns 18,258,321 shares of the company's stock worth $325,728,000 after purchasing an additional 2,486,499 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of KANZHUN by 2.9% during the first quarter. Vanguard Group Inc. now owns 14,821,755 shares of the company's stock worth $284,133,000 after purchasing an additional 424,153 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of KANZHUN by 1,474.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 9,552,922 shares of the company's stock worth $183,130,000 after purchasing an additional 8,946,253 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of KANZHUN by 9.3% during the second quarter. JPMorgan Chase & Co. now owns 9,455,233 shares of the company's stock worth $168,681,000 after purchasing an additional 801,373 shares in the last quarter. 60.67% of the stock is currently owned by institutional investors and hedge funds.

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.

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