Blue Creek Capital Management Ltd Cuts Stake in Kanzhun Limited (NASDAQ:BZ)

Blue Creek Capital Management Ltd decreased its holdings in shares of Kanzhun Limited (NASDAQ:BZ) by 4.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,633,631 shares of the company’s stock after selling 70,000 shares during the period. Kanzhun accounts for 19.5% of Blue Creek Capital Management Ltd’s portfolio, making the stock its 3rd largest position. Blue Creek Capital Management Ltd’s holdings in Kanzhun were worth $27,135,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. PNC Financial Services Group Inc. grew its stake in Kanzhun by 32.0% in the third quarter. PNC Financial Services Group Inc. now owns 3,670 shares of the company’s stock worth $56,000 after purchasing an additional 890 shares in the last quarter. Schwab Charitable Fund bought a new position in Kanzhun in the fourth quarter worth approximately $182,000. Aigen Investment Management LP bought a new position in Kanzhun in the third quarter worth approximately $182,000. DNB Asset Management AS bought a new position in Kanzhun in the fourth quarter worth approximately $207,000. Finally, Daiwa Securities Group Inc. grew its stake in Kanzhun by 16.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 23,973 shares of the company’s stock worth $398,000 after purchasing an additional 3,470 shares in the last quarter. Institutional investors own 60.67% of the company’s stock.

Kanzhun Trading Up 5.1 %

Shares of BZ traded up $1.00 during midday trading on Thursday, hitting $20.53. 2,515,116 shares of the company’s stock traded hands, compared to its average volume of 3,420,307. Kanzhun Limited has a 1 year low of $12.57 and a 1 year high of $21.32. The firm’s fifty day moving average is $18.19 and its 200-day moving average is $16.27. The stock has a market capitalization of $7.71 billion, a price-to-earnings ratio of 59.18 and a beta of 0.50.

Kanzhun (NASDAQ:BZ) last issued its quarterly earnings data on Tuesday, March 12th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. Kanzhun had a return on equity of 8.44% and a net margin of 18.28%. The firm had revenue of $222.57 million during the quarter, compared to analyst estimates of $215.66 million. On average, equities research analysts anticipate that Kanzhun Limited will post 0.42 EPS for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on the company. TheStreet upgraded Kanzhun from a “d+” rating to a “c-” rating in a report on Wednesday, March 13th. Barclays upped their target price on Kanzhun from $22.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, March 13th. Macquarie upgraded Kanzhun from a “neutral” rating to an “outperform” rating in a report on Tuesday, March 12th. Finally, New Street Research upgraded Kanzhun from a “neutral” rating to a “buy” rating and upped their target price for the stock from $17.00 to $25.00 in a report on Wednesday, March 13th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Kanzhun currently has an average rating of “Moderate Buy” and an average price target of $20.38.

About Kanzhun

Kanzhun Limited engages in the provision of online recruitment solutions in the People's Republic of China. The company offers its recruitment solutions through a mobile app under the BOSS Zhipin brand name. Its recruitment platform assists the recruitment process between job seekers and employers for enterprises, and corporations.