Kanzhun (NASDAQ:BZ) Stock Price Down 4.6% – Here’s What Happened

Kanzhun Limited (NASDAQ:BZ)’s share price was down 4.6% on Monday . The company traded as low as $13.85 and last traded at $13.91. Approximately 520,514 shares were traded during trading, a decline of 88% from the average daily volume of 4,193,361 shares. The stock had previously closed at $14.58.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Sanford C. Bernstein downgraded Kanzhun from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $19.00 to $15.00 in a report on Monday, December 9th. CLSA started coverage on shares of Kanzhun in a report on Monday, November 18th. They set an “outperform” rating and a $18.00 price target for the company. Citigroup dropped their price objective on shares of Kanzhun from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, November 29th. Finally, Barclays boosted their target price on shares of Kanzhun from $14.00 to $16.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

Kanzhun Stock Performance

The company’s 50 day moving average price is $14.40 and its 200-day moving average price is $15.51. The company has a market cap of $5.27 billion, a price-to-earnings ratio of 30.91 and a beta of 0.50.

Kanzhun (NASDAQ:BZ) last announced its earnings results on Wednesday, December 11th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.13 by $0.02. Kanzhun had a return on equity of 10.48% and a net margin of 20.65%. As a group, sell-side analysts forecast that Kanzhun Limited will post 0.47 earnings per share for the current year.

Institutional Trading of Kanzhun

Large investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its position in Kanzhun by 12.8% during the 3rd quarter. Franklin Resources Inc. now owns 136,728 shares of the company’s stock worth $2,201,000 after acquiring an additional 15,497 shares during the period. Tidal Investments LLC acquired a new stake in shares of Kanzhun during the third quarter worth approximately $662,000. Geode Capital Management LLC grew its position in Kanzhun by 3.3% during the third quarter. Geode Capital Management LLC now owns 1,822,128 shares of the company’s stock valued at $31,404,000 after purchasing an additional 58,065 shares in the last quarter. ABS Direct Equity Fund LLC increased its stake in Kanzhun by 84.5% in the 3rd quarter. ABS Direct Equity Fund LLC now owns 104,172 shares of the company’s stock valued at $1,808,000 after buying an additional 47,700 shares during the period. Finally, M&T Bank Corp lifted its position in Kanzhun by 25.8% in the 3rd 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 in the last quarter. 60.67% of the stock is owned by institutional investors and hedge funds.

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.