Federated Hermes Inc. Has $100.99 Million Position in Kanzhun Limited (NASDAQ:BZ)

Federated Hermes Inc. boosted its holdings in shares of Kanzhun Limited (NASDAQ:BZ) by 10.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,368,870 shares of the company’s stock after acquiring an additional 507,337 shares during the quarter. Federated Hermes Inc. owned approximately 1.41% of Kanzhun worth $100,988,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Atlas Capital Advisors LLC bought a new stake in shares of Kanzhun during the 2nd quarter worth about $25,000. Blue Trust Inc. boosted its position in Kanzhun by 21.4% during the second quarter. Blue Trust Inc. now owns 7,638 shares of the company’s stock worth $134,000 after purchasing an additional 1,347 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in Kanzhun by 6.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 32,066 shares of the company’s stock valued at $565,000 after purchasing an additional 1,977 shares during the last quarter. Summit Securities Group LLC bought a new position in shares of Kanzhun in the second quarter valued at approximately $44,000. Finally, DNB Asset Management AS lifted its stake in shares of Kanzhun by 21.7% in the second quarter. DNB Asset Management AS now owns 17,544 shares of the company’s stock worth $330,000 after buying an additional 3,123 shares during the last quarter. 60.67% of the stock is currently owned by institutional investors and hedge funds.

Kanzhun Trading Up 1.0 %

BZ opened at $12.12 on Friday. The stock’s 50 day simple moving average is $14.40 and its 200-day simple moving average is $17.70. The stock has a market cap of $4.61 billion, a PE ratio of 31.08 and a beta of 0.47. Kanzhun Limited has a 1 year low of $10.57 and a 1 year high of $22.74.

Analysts Set New Price Targets

A number of research firms recently issued reports on BZ. Daiwa Capital Markets lowered shares of Kanzhun from a “buy” rating to a “neutral” rating in a research note on Thursday, July 25th. HSBC assumed coverage on Kanzhun in a research note on Friday, May 24th. They issued a “buy” rating and a $30.00 price objective on the stock. UBS Group increased their target price on Kanzhun from $22.00 to $23.50 and gave the company a “neutral” rating in a research note on Wednesday, May 22nd. Barclays dropped their price target on Kanzhun from $27.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, August 30th. Finally, Daiwa America raised Kanzhun to a “hold” rating in a research report on Thursday, July 25th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.