Citigroup Inc. Buys 1,402,885 Shares of Kanzhun Limited (NASDAQ:BZ)

Citigroup Inc. boosted its stake in Kanzhun Limited (NASDAQ:BZ) by 149.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,343,278 shares of the company’s stock after purchasing an additional 1,402,885 shares during the quarter. Citigroup Inc. owned approximately 0.62% of Kanzhun worth $40,679,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Swedbank AB purchased a new stake in shares of Kanzhun in the 1st quarter valued at about $861,000. WCM Investment Management LLC raised its holdings in shares of Kanzhun by 109.3% during the 3rd quarter. WCM Investment Management LLC now owns 3,157,794 shares of the company’s stock valued at $54,251,000 after buying an additional 1,649,411 shares in the last quarter. Deltec Asset Management LLC purchased a new position in shares of Kanzhun during the 2nd quarter valued at about $934,000. DekaBank Deutsche Girozentrale raised its holdings in shares of Kanzhun by 128.9% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 73,408 shares of the company’s stock valued at $1,377,000 after buying an additional 41,342 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Kanzhun during the 2nd quarter valued at about $772,000. Institutional investors own 60.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on BZ shares. Barclays decreased their price objective on Kanzhun from $27.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. CLSA started coverage on Kanzhun in a report on Monday, November 18th. They set an “outperform” rating and a $18.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.50.

Kanzhun Price Performance

Shares of Kanzhun stock opened at $12.76 on Monday. The business’s 50 day simple moving average is $15.04 and its two-hundred day simple moving average is $16.45. The stock has a market capitalization of $4.84 billion, a P/E ratio of 29.67 and a beta of 0.55. Kanzhun Limited has a one year low of $10.57 and a one year high of $22.74.

Kanzhun (NASDAQ:BZ) last announced its quarterly earnings results on Wednesday, August 28th. The company reported $0.13 EPS for the quarter, topping 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 return on equity of 10.19% and a net margin of 20.90%. Sell-side analysts expect that Kanzhun Limited will post 0.47 earnings per share for the current fiscal year.

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.