Kanzhun (NASDAQ:BZ) Shares Down 5% - Should You Sell?

Shares of Kanzhun Limited (NASDAQ:BZ - Get Free Report) fell 5% during mid-day trading on Wednesday . The stock traded as low as $16.35 and last traded at $16.41. 1,475,896 shares traded hands during trading, a decline of 65% from the average session volume of 4,179,891 shares. The stock had previously closed at $17.27.

Analyst Ratings Changes

BZ has been the subject of several research reports. Daiwa Capital Markets cut Kanzhun from a "buy" rating to a "neutral" rating in a research note on Thursday, July 25th. Daiwa America upgraded shares of Kanzhun to a "hold" rating in a research report on Thursday, July 25th. Finally, Barclays reduced their price objective on shares of Kanzhun from $27.00 to $14.00 and set an "overweight" rating on the stock in a research note on Friday, August 30th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, Kanzhun presently has an average rating of "Moderate Buy" and an average price target of $23.40.

Kanzhun Stock Down 2.9 %

The stock has a market capitalization of $6.38 billion, a P/E ratio of 43.00 and a beta of 0.52. The stock has a 50 day simple moving average of $14.12 and a two-hundred day simple moving average of $17.41.

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

Institutional Trading of Kanzhun

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Kanzhun by 1.6% during the first quarter. Vanguard Group Inc. now owns 12,875,675 shares of the company's stock worth $225,711,000 after purchasing an additional 203,594 shares during the period. Wellington Management Group LLP grew its holdings in shares of Kanzhun by 21.8% during the 4th quarter. Wellington Management Group LLP now owns 6,976,129 shares of the company's stock worth $115,874,000 after purchasing an additional 1,247,997 shares in the last quarter. RWC Asset Advisors US LLC increased its position in shares of Kanzhun by 79.8% in 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 during the period. Federated Hermes Inc. lifted its position in Kanzhun by 10.4% during the second quarter. Federated Hermes Inc. now owns 5,368,870 shares of the company's stock worth $100,988,000 after purchasing an additional 507,337 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in Kanzhun by 21.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,978,186 shares of the company's stock valued at $82,688,000 after buying an additional 877,342 shares during the period. 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.