AQR Capital Management LLC Acquires New Position in Kanzhun Limited (NASDAQ:BZ)

AQR Capital Management LLC acquired a new position in Kanzhun Limited (NASDAQ:BZ) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,526,028 shares of the company’s stock, valued at approximately $28,705,000.

Other hedge funds also recently bought and sold shares of the company. RWC Asset Advisors US LLC grew its holdings in Kanzhun by 79.8% during the 2nd quarter. RWC Asset Advisors US LLC now owns 5,700,186 shares of the company’s stock valued at $107,220,000 after buying an additional 2,529,725 shares in the last quarter. GGV Capital LLC grew its stake in Kanzhun by 350.8% during the first quarter. GGV Capital LLC now owns 2,366,764 shares of the company’s stock valued at $41,489,000 after acquiring an additional 1,841,764 shares in the last quarter. Thornburg Investment Management Inc. purchased a new stake in Kanzhun in the 1st quarter worth $25,967,000. Candriam S.C.A. boosted its holdings in shares of Kanzhun by 168.4% during the 2nd quarter. Candriam S.C.A. now owns 2,059,000 shares of the company’s stock valued at $38,728,000 after purchasing an additional 1,292,000 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Kanzhun by 21.8% during the fourth quarter. Wellington Management Group LLP now owns 6,976,129 shares of the company’s stock valued at $115,874,000 after purchasing an additional 1,247,997 shares in the last quarter. Institutional investors own 60.67% of the company’s stock.

Kanzhun Stock Performance

NASDAQ BZ opened at $17.18 on Monday. The business’s 50 day moving average price is $13.51 and its 200-day moving average price is $17.48. Kanzhun Limited has a fifty-two week low of $10.57 and a fifty-two week high of $22.74. The company has a market cap of $6.54 billion, a P/E ratio of 44.05 and a beta of 0.47.

Kanzhun (NASDAQ:BZ) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. The business had revenue of $263.75 million for the quarter, compared to analysts’ expectations of $264.38 million. Kanzhun had a net margin of 20.90% and a return on equity of 10.19%. As a group, equities analysts predict that Kanzhun Limited will post 0.47 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Daiwa Capital Markets downgraded Kanzhun from a “buy” rating to a “neutral” rating in a research report on Thursday, July 25th. Daiwa America upgraded Kanzhun to a “hold” rating in a research report on Thursday, July 25th. Finally, Barclays reduced their price target on shares of Kanzhun from $27.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, August 30th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Kanzhun presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

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.