Connor Clark & Lunn Investment Management Ltd. Sells 199,772 Shares of Kanzhun Limited (NASDAQ:BZ)

Connor Clark & Lunn Investment Management Ltd. lessened its stake in Kanzhun Limited (NASDAQ:BZ) by 53.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 173,977 shares of the company’s stock after selling 199,772 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Kanzhun were worth $2,401,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its position in Kanzhun by 107.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,976 shares of the company’s stock valued at $41,000 after purchasing an additional 1,542 shares during the period. China Universal Asset Management Co. Ltd. purchased a new position in shares of Kanzhun during the fourth quarter valued at about $63,000. Premier Fund Managers Ltd raised its stake in Kanzhun by 38.0% in the third quarter. Premier Fund Managers Ltd now owns 10,470 shares of the company’s stock worth $180,000 after buying an additional 2,884 shares in the last quarter. DRW Securities LLC purchased a new stake in Kanzhun in the third quarter worth about $203,000. Finally, Hancock Whitney Corp bought a new stake in Kanzhun during the 3rd quarter valued at approximately $228,000. Hedge funds and other institutional investors own 60.67% of the company’s stock.

Kanzhun Trading Up 0.4 %

Shares of NASDAQ:BZ opened at $20.56 on Wednesday. Kanzhun Limited has a 12-month low of $10.57 and a 12-month high of $22.74. The stock has a market capitalization of $7.83 billion, a price-to-earnings ratio of 45.69 and a beta of 0.46. The stock has a fifty day simple moving average of $15.74 and a two-hundred day simple moving average of $14.80.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Citigroup decreased their target price on Kanzhun from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, November 29th. Barclays raised their price objective on Kanzhun from $16.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, March 13th. Finally, Sanford C. Bernstein restated a “market perform” rating and set a $18.00 target price on shares of Kanzhun in a report on Wednesday, March 12th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $21.71.

Kanzhun Profile

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.