KANZHUN (NASDAQ:BZ) Reaches New 1-Year Low Following Analyst Downgrade

Shares of KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ) reached a new 52-week low during mid-day trading on Friday after Barclays lowered their price target on the stock from $20.00 to $17.00. Barclays currently has an overweight rating on the stock. KANZHUN traded as low as $12.12 and last traded at $12.6960, with a volume of 859,169 shares changing hands. The stock had previously closed at $12.49.

Several other brokerages have also recently weighed in on BZ. Weiss Ratings reaffirmed a “hold (c)” rating on shares of KANZHUN in a report on Tuesday, November 3rd. Bank of America started coverage on shares of KANZHUN in a report on Tuesday, August 18th. They set a “neutral” rating and a $19.00 price target for the company. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $19.00 price objective on shares of KANZHUN in a research report on Wednesday, August 26th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, KANZHUN has an average rating of “Hold” and a consensus target price of $18.33.

Insiders Place Their Bets

In other news, CMO Xu Chen sold 200,000 shares of the company’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $8.15, for a total transaction of $1,630,000.00. Following the completion of the transaction, the chief marketing officer directly owned 153,340 shares of the company’s stock, valued at approximately $1,249,721. This represents a 56.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Yang Mu sold 60,704 shares of the stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $7.46, for a total value of $452,851.84. Following the completion of the transaction, the director owned 143,356 shares in the company, valued at approximately $1,069,435.76. The trade was a 29.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 16,574,304 shares of company stock valued at $121,583,960 in the last ninety days. Insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On KANZHUN

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BZ. Parallel Advisors LLC increased its stake in KANZHUN by 5,732.4% in the first quarter. Parallel Advisors LLC now owns 2,158 shares of the company’s stock valued at $29,000 after purchasing an additional 2,121 shares during the last quarter. Silver Grove Financial Group Inc. raised its holdings in KANZHUN by 54.1% during the third quarter. Silver Grove Financial Group Inc. now owns 2,917 shares of the company’s stock worth $43,000 after purchasing an additional 1,024 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of KANZHUN by 158.9% during the 3rd quarter. Global Retirement Partners LLC now owns 3,441 shares of the company’s stock worth $51,000 after buying an additional 2,112 shares during the last quarter. Hantz Financial Services Inc. lifted its position in shares of KANZHUN by 8.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 11,003 shares of the company’s stock worth $163,000 after buying an additional 865 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of KANZHUN during the 3rd quarter worth approximately $167,000. 60.67% of the stock is owned by institutional investors and hedge funds.

KANZHUN Trading Up 2.8%

The firm’s fifty day moving average price is $15.84 and its 200-day moving average price is $15.22. The firm has a market cap of $5.32 billion, a price-to-earnings ratio of 9.09, a PEG ratio of 1.78 and a beta of 0.50.

KANZHUN (NASDAQ:BZ) last posted its earnings results on Friday, August 14th. The company reported $0.33 EPS for the quarter. KANZHUN had a net margin of 53.16% and a return on equity of 15.03%. The firm had revenue of $353.05 million for the quarter. On average, sell-side analysts expect that KANZHUN LIMITED Sponsored ADR will post 1.00 earnings per share for the current year.

KANZHUN Announces Dividend

The business also recently disclosed an annual dividend, which was paid on Wednesday, October 14th. Shareholders of record on Monday, September 28th were paid a $0.51 dividend. This represents a yield of 360.0%. The ex-dividend date was Monday, September 28th. KANZHUN’s dividend payout ratio is currently 35.92%.

About KANZHUN

KANZHUN Limited operates BOSS Zhipin, an online recruitment platform that connects job seekers with employers in China. Its services are designed to help candidates find employment opportunities and enable businesses to recruit talent. The platform emphasizes direct communication between job seekers and recruiters, alongside tools for discovering and matching candidates with available positions. KANZHUN provides recruitment services through its mobile and online platforms. BOSS Zhipin was launched in 2014.