Kanzhun (NASDAQ:BZ) Stock Price Down 4.7% - Here's What Happened

Kanzhun Limited (NASDAQ:BZ - Get Free Report)'s stock price fell 4.7% during trading on Tuesday . The stock traded as low as $15.77 and last traded at $15.72. 1,861,268 shares traded hands during mid-day trading, a decline of 43% from the average session volume of 3,254,118 shares. The stock had previously closed at $16.49.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on BZ shares. CLSA started coverage on Kanzhun in a report on Monday, November 18th. They set an "outperform" rating and a $18.00 price target for the company. Sanford C. Bernstein cut 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 report on Monday, December 9th. Barclays lifted their price target on Kanzhun from $14.00 to $16.00 and gave the stock an "overweight" rating in a report on Monday, December 9th. Finally, Citigroup dropped their price target on Kanzhun from $17.00 to $16.00 and set a "buy" rating for the company in a report on Friday, November 29th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Kanzhun has an average rating of "Moderate Buy" and an average price target of $21.00.

Kanzhun Stock Performance

The firm has a market cap of $6.09 billion, a P/E ratio of 35.56 and a beta of 0.49. The business's fifty day moving average is $14.47 and its 200-day moving average is $14.34.

Kanzhun (NASDAQ:BZ - Get Free Report) last announced its earnings results on Wednesday, December 11th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.02. Kanzhun had a return on equity of 10.31% and a net margin of 20.65%. Analysts predict that Kanzhun Limited will post 0.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Kanzhun

A number of institutional investors and hedge funds have recently made changes to their positions in BZ. Quadrant Capital Group LLC increased its stake in Kanzhun by 403.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,781 shares of the company's stock valued at $25,000 after purchasing an additional 1,427 shares in the last quarter. PNC Financial Services Group Inc. increased its stake 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 in the last quarter. Van ECK Associates Corp bought a new position in shares of Kanzhun in the third quarter valued at approximately $61,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Kanzhun in the fourth quarter valued at approximately $63,000. Finally, Premier Fund Managers Ltd lifted its holdings in shares of Kanzhun by 38.0% in the third quarter. Premier Fund Managers Ltd now owns 10,470 shares of the company's stock valued at $180,000 after purchasing an additional 2,884 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.