Kanzhun (NASDAQ:BZ) Shares Gap Down - Here's Why

Shares of Kanzhun Limited (NASDAQ:BZ - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $17.00, but opened at $16.45. Kanzhun shares last traded at $16.59, with a volume of 438,088 shares changing hands.

Wall Street Analyst Weigh In

BZ has been the subject of a number of recent analyst reports. Daiwa Capital Markets downgraded shares of Kanzhun from a "buy" rating to a "neutral" rating in a report on Thursday, July 25th. Daiwa America upgraded Kanzhun to a "hold" rating in a research report on Thursday, July 25th. Finally, Barclays lowered their price target on Kanzhun from $27.00 to $14.00 and set an "overweight" rating for the company in a report on Friday, August 30th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Kanzhun currently has an average rating of "Moderate Buy" and an average price target of $23.40.

Kanzhun Trading Down 5.3 %

The firm has a market capitalization of $6.13 billion, a price-to-earnings ratio of 42.13 and a beta of 0.52. The stock's fifty day moving average price is $14.26 and its two-hundred day moving average price is $17.39.

Kanzhun (NASDAQ:BZ - Get Free Report) last posted its earnings results on Wednesday, August 28th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.01. The firm had revenue of $263.75 million during the quarter, compared to analysts' expectations of $264.38 million. Kanzhun had a return on equity of 10.19% and a net margin of 20.90%. Analysts anticipate that Kanzhun Limited will post 0.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kanzhun

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Kanzhun by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 12,875,675 shares of the company's stock valued at $225,711,000 after buying an additional 203,594 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Kanzhun by 21.8% during the fourth quarter. Wellington Management Group LLP now owns 6,976,129 shares of the company's stock worth $115,874,000 after acquiring an additional 1,247,997 shares during the period. RWC Asset Advisors US LLC raised its holdings in Kanzhun by 79.8% during the second quarter. RWC Asset Advisors US LLC now owns 5,700,186 shares of the company's stock worth $107,220,000 after purchasing an additional 2,529,725 shares in the last quarter. Federated Hermes Inc. boosted its holdings in Kanzhun by 10.4% in the 2nd quarter. Federated Hermes Inc. now owns 5,368,870 shares of the company's stock valued at $100,988,000 after purchasing an additional 507,337 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Kanzhun by 21.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,978,186 shares of the company's stock worth $82,688,000 after purchasing an additional 877,342 shares during the period. 60.67% of the stock is owned by hedge funds and other institutional investors.

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.