Kanzhun (NASDAQ:BZ) Shares Down 4.6% - Here's What Happened

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

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Citigroup reduced their price target on shares of Kanzhun from $17.00 to $16.00 and set a "buy" rating on the stock in a research report on Friday, November 29th. Barclays lifted their price target on shares of Kanzhun from $14.00 to $16.00 and gave the stock an "overweight" rating in a research note on Monday, December 9th. Sanford C. Bernstein lowered shares of Kanzhun from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $19.00 to $15.00 in a research note on Monday, December 9th. Finally, CLSA assumed coverage on shares of Kanzhun in a research note on Monday, November 18th. They set an "outperform" rating and a $18.00 target price for the company. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $21.00.

Kanzhun Stock Performance

The firm has a fifty day simple moving average of $14.58 and a 200-day simple moving average of $15.61. The firm has a market cap of $5.24 billion, a price-to-earnings ratio of 30.69 and a beta of 0.50.

Kanzhun (NASDAQ:BZ - Get Free Report) last announced its quarterly earnings results on Wednesday, December 11th. The company reported $0.15 earnings per share (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%. Analysts expect that Kanzhun Limited will post 0.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. boosted its stake in shares of Kanzhun by 12.8% during the third quarter. Franklin Resources Inc. now owns 136,728 shares of the company's stock valued at $2,201,000 after purchasing an additional 15,497 shares in the last quarter. Tidal Investments LLC acquired a new stake in shares of Kanzhun during the third quarter valued at about $662,000. Geode Capital Management LLC boosted its stake in shares of 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 boosted its stake in shares of Kanzhun by 84.5% during the third quarter. ABS Direct Equity Fund LLC now owns 104,172 shares of the company's stock valued at $1,808,000 after purchasing an additional 47,700 shares in the last quarter. Finally, M&T Bank Corp boosted its stake in shares of Kanzhun by 25.8% during the third quarter. M&T Bank Corp now owns 110,783 shares of the company's stock valued at $1,923,000 after purchasing an additional 22,706 shares in the last quarter. Institutional investors own 60.67% of the company's stock.

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.