KANZHUN (NASDAQ:BZ) Shares Gap Down - Time to Sell?

Key Points

• KANZHUN shares plunged: The stock opened at $13.95 after closing at $16.72 and was last reported at $13.16; the article says shares were down 23.2%.
• Analyst sentiment was mixed: The consensus rating was “Hold,” based on two Buy and three Hold ratings, with an average price target of $19.33.
• Insiders sold heavily: Company insiders sold 16.6 million shares worth about $121.6 million over 90 days, including a 15.17 million-share sale by CEO Peng Zhao.

KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ - Get Free Report)'s stock price gapped down before the market opened on Thursday. The stock had previously closed at $16.72, but opened at $13.95. KANZHUN shares last traded at $13.1580, with a volume of 3,970,949 shares traded.

Wall Street Analyst Weigh In

BZ has been the subject of several recent research reports. Sanford C. Bernstein restated an "outperform" rating and issued a $19.00 price target on shares of KANZHUN in a research report on Wednesday, August 26th. Bank of America began coverage on shares of KANZHUN in a research note on Tuesday, August 18th. They set a "neutral" rating and a $19.00 price target for the company. Weiss Ratings reiterated a "hold (c)" rating on shares of KANZHUN in a report on Tuesday, November 3rd. Finally, Barclays boosted their price objective on shares of KANZHUN from $19.00 to $20.00 and gave the stock an "overweight" rating in a research note on Thursday, August 27th. 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.com, the stock currently has an average rating of "Hold" and a consensus price target of $19.33.

KANZHUN Stock Down 23.2%

The firm has a market capitalization of $5.32 billion, a P/E ratio of 9.02, a price-to-earnings-growth ratio of 1.81 and a beta of 0.50. The company's 50 day moving average is $15.93 and its 200-day moving average is $15.25.

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

KANZHUN Announces Dividend

The firm 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 35.92%.

Insider Buying and Selling

In other news, CEO Peng Zhao sold 15,170,000 shares of the firm's stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $7.25, for a total transaction of $109,982,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Xu Chen sold 200,000 shares of the business's stock in a transaction 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 completion of the sale, the chief marketing officer owned 153,340 shares in the company, valued at approximately $1,249,721. The trade was a 56.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 16,574,304 shares of company stock worth $121,583,960. Insiders own 5.60% of the company's stock.

Institutional Inflows and Outflows

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

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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