Kanzhun (NASDAQ:BZ) Shares Gap Down – Here’s What Happened

Kanzhun Limited (NASDAQ:BZ)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $13.89, but opened at $13.57. Kanzhun shares last traded at $13.43, with a volume of 228,666 shares changing hands.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Daiwa America upgraded shares of Kanzhun to a “hold” rating in a research note on Thursday, July 25th. Daiwa Capital Markets cut shares of Kanzhun from a “buy” rating to a “neutral” rating in a report on Thursday, July 25th. Finally, Barclays decreased their price objective on shares of Kanzhun from $27.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, August 30th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

Kanzhun Price Performance

The stock has a market capitalization of $5.12 billion, a P/E ratio of 31.26 and a beta of 0.55. The business’s 50 day moving average price is $14.90 and its 200 day moving average price is $16.76.

Kanzhun (NASDAQ:BZ) last announced 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 company had revenue of $263.75 million during the quarter, compared to analyst estimates of $264.38 million. Kanzhun had a net margin of 20.90% and a return on equity of 10.19%. As a group, analysts forecast 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 modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Kanzhun by 31.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 150,279 shares of the company’s stock worth $2,634,000 after buying an additional 35,700 shares during the last quarter. Sei Investments Co. increased its stake in Kanzhun by 25.3% during the first quarter. Sei Investments Co. now owns 700,049 shares of the company’s stock worth $12,272,000 after acquiring an additional 141,275 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in Kanzhun by 1.9% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 329,341 shares of the company’s stock valued at $6,028,000 after purchasing an additional 6,203 shares during the period. GGV Capital LLC lifted its position in Kanzhun by 350.8% in the first quarter. GGV Capital LLC now owns 2,366,764 shares of the company’s stock worth $41,489,000 after buying an additional 1,841,764 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Kanzhun by 53.0% in the 1st quarter. Russell Investments Group Ltd. now owns 540,660 shares of the company’s stock worth $9,482,000 after acquiring an additional 187,319 shares during the last quarter. Institutional investors own 60.67% of the company’s stock.

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.