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

Key Points

• KANZHUN hit a new 52-week low, trading as low as $12.12 after Barclays cut its price target from $20 to $17, while maintaining an Overweight rating.
• Analyst views are mixed: the stock has an overall Hold consensus and an average price target of $18.33, with two Buy and three Hold ratings.
• Company insiders sold 16.6 million shares worth about $121.6 million over the past three months; institutional investors own 60.67% of the stock.

Shares of KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ - Get Free Report) hit a new 52-week low 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 equities analysts have also commented on the company. Bank of America assumed coverage on KANZHUN in a research note on Tuesday, August 18th. They issued a "neutral" rating and a $19.00 price target on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of KANZHUN in a research report on Tuesday, November 3rd. Finally, Sanford C. Bernstein reissued an "outperform" rating and set a $19.00 price objective on shares of KANZHUN in a research report on Wednesday, August 26th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $18.33.

Insider Activity

In other news, CMO Xu Chen sold 200,000 shares of the company's stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $8.15, for a total value of $1,630,000.00. Following the transaction, the chief marketing officer directly owned 153,340 shares in the company, valued at approximately $1,249,721. This represents a 56.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Peng Zhao sold 15,170,000 shares of the stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $7.25, for a total transaction of $109,982,500.00. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 16,574,304 shares of company stock valued at $121,583,960. Company insiders own 5.60% of the company's stock.

Institutional Trading of KANZHUN

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Perseverance Asset Management International grew its holdings in shares of KANZHUN by 19.1% in the third quarter. Perseverance Asset Management International now owns 14,048,661 shares of the company's stock valued at $207,920,000 after purchasing an additional 2,250,415 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in KANZHUN by 43.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 13,498,670 shares of the company's stock worth $199,780,000 after buying an additional 4,084,629 shares during the period. Bank of America Corp DE lifted its holdings in KANZHUN by 38.5% during the 1st quarter. Bank of America Corp DE now owns 6,083,025 shares of the company's stock worth $81,452,000 after buying an additional 1,690,275 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in KANZHUN by 43.3% during the 1st quarter. Renaissance Technologies LLC now owns 5,698,667 shares of the company's stock worth $76,305,000 after buying an additional 1,722,700 shares in the last quarter. Finally, Temasek Holdings Private Ltd lifted its holdings in KANZHUN by 21.4% during the 1st quarter. Temasek Holdings Private Ltd now owns 4,345,925 shares of the company's stock worth $58,192,000 after buying an additional 766,400 shares in the last quarter. 60.67% of the stock is currently owned by hedge funds and other institutional investors.

KANZHUN Stock Performance

The company has a market cap of $5.32 billion, a PE ratio of 9.09, a PEG ratio of 1.78 and a beta of 0.50. The company's 50-day simple moving average is $15.84 and its 200 day simple moving average is $15.22.

KANZHUN (NASDAQ:BZ - Get Free Report) last posted its quarterly 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 business had revenue of $353.05 million during the quarter. Analysts forecast that KANZHUN LIMITED Sponsored ADR will post 1.00 EPS for the current year.

KANZHUN Announces Dividend

The business also recently announced an annual dividend, which was paid on Wednesday, October 14th. Investors of record on Monday, September 28th were issued a $0.51 dividend. The ex-dividend date was Monday, September 28th. This represents a yield of 360.0%. KANZHUN's dividend payout ratio (DPR) is 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.

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