Kanzhun Limited (NASDAQ:BZ) Sees Significant Drop in Short Interest

Kanzhun Limited (NASDAQ:BZ) saw a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 17,760,000 shares, a decline of 6.7% from the October 15th total of 19,030,000 shares. Based on an average trading volume of 4,890,000 shares, the days-to-cover ratio is currently 3.6 days. Approximately 5.4% of the company’s shares are sold short.

Institutional Trading of Kanzhun

A number of hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its holdings in Kanzhun by 3.3% during the third quarter. Geode Capital Management LLC now owns 1,822,128 shares of the company’s stock worth $31,404,000 after buying an additional 58,065 shares during the period. ABS Direct Equity Fund LLC lifted its holdings in Kanzhun by 84.5% during the third quarter. ABS Direct Equity Fund LLC now owns 104,172 shares of the company’s stock worth $1,808,000 after buying an additional 47,700 shares during the period. M&T Bank Corp lifted its holdings in Kanzhun by 25.8% during the third quarter. M&T Bank Corp now owns 110,783 shares of the company’s stock worth $1,923,000 after buying an additional 22,706 shares during the period. Barclays PLC lifted its holdings in Kanzhun by 58.7% during the third quarter. Barclays PLC now owns 450,663 shares of the company’s stock worth $7,824,000 after buying an additional 166,683 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in Kanzhun during the third quarter worth $1,430,000. Hedge funds and other institutional investors own 60.67% of the company’s stock.

Kanzhun Stock Performance

Shares of NASDAQ BZ opened at $13.44 on Monday. The firm has a market capitalization of $5.12 billion, a price-to-earnings ratio of 31.26 and a beta of 0.55. The stock has a 50 day moving average price of $14.92 and a 200 day moving average price of $16.69. Kanzhun has a 52-week low of $10.57 and a 52-week high of $22.74.

Kanzhun (NASDAQ:BZ) last posted its earnings results on Wednesday, August 28th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. The company had revenue of $263.75 million during the quarter, compared to analyst estimates of $264.38 million. Kanzhun had a return on equity of 10.19% and a net margin of 20.90%. Analysts forecast that Kanzhun will post 0.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on BZ shares. Barclays dropped their target price on Kanzhun from $27.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, August 30th. Daiwa America upgraded Kanzhun to a “hold” rating in a research report on Thursday, July 25th. CLSA started coverage on Kanzhun in a research report on Monday. They set an “outperform” rating and a $18.00 target price for the company. Finally, Daiwa Capital Markets lowered Kanzhun from a “buy” rating to a “neutral” rating in a research report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.50.

Kanzhun Company 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.