MINISO Group (NYSE:MNSO) Shares Gap Up – Here’s What Happened

MINISO Group Holding Limited (NYSE:MNSO)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $19.15, but opened at $19.66. MINISO Group shares last traded at $19.33, with a volume of 210,426 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on MNSO shares. JPMorgan Chase & Co. raised shares of MINISO Group from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $15.00 to $22.00 in a research report on Tuesday, March 25th. Hsbc Global Res upgraded shares of MINISO Group to a “strong-buy” rating in a research note on Wednesday, February 26th. Finally, HSBC initiated coverage on shares of MINISO Group in a research note on Wednesday, February 26th. They issued a “buy” rating and a $29.30 price objective for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, MINISO Group has an average rating of “Moderate Buy” and a consensus target price of $26.03.

MINISO Group Stock Up 0.4 %

The company has a market cap of $6.01 billion, a price-to-earnings ratio of 17.32, a P/E/G ratio of 0.80 and a beta of 0.10. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.14 and a quick ratio of 1.66. The firm’s 50 day simple moving average is $21.19 and its 200-day simple moving average is $20.61.

MINISO Group (NYSE:MNSO) last posted its quarterly earnings data on Friday, March 21st. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $2.61 by ($2.25). The firm had revenue of $646.49 million during the quarter, compared to analysts’ expectations of $4.82 billion. MINISO Group had a net margin of 15.18% and a return on equity of 26.07%. As a group, sell-side analysts anticipate that MINISO Group Holding Limited will post 1.19 earnings per share for the current year.

MINISO Group Announces Dividend

The company also recently declared a — dividend, which will be paid on Wednesday, April 23rd. Investors of record on Tuesday, April 8th will be issued a dividend of $0.3268 per share. The ex-dividend date of this dividend is Tuesday, April 8th. This represents a yield of 1.4%. MINISO Group’s dividend payout ratio is currently 53.39%.

Hedge Funds Weigh In On MINISO Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vise Technologies Inc. acquired a new position in MINISO Group during the fourth quarter worth $366,000. Vident Advisory LLC raised its stake in MINISO Group by 34.4% in the 4th quarter. Vident Advisory LLC now owns 21,559 shares of the company’s stock valued at $515,000 after purchasing an additional 5,523 shares during the last quarter. Two Sigma Advisers LP purchased a new position in MINISO Group in the 4th quarter valued at about $237,000. Two Sigma Investments LP acquired a new stake in shares of MINISO Group during the 4th quarter worth about $1,514,000. Finally, Tairen Capital Ltd grew its holdings in shares of MINISO Group by 211.7% during the fourth quarter. Tairen Capital Ltd now owns 218,170 shares of the company’s stock worth $5,212,000 after buying an additional 148,170 shares in the last quarter. Institutional investors and hedge funds own 17.16% of the company’s stock.

MINISO Group Company Profile

MINISO Group Holding Limited, an investment holding company, engages in the retail and wholesale of lifestyle products and pop toy products in China, Asia, the United States, and Europe. The company offers products in various categories, including home decor products, small electronics, textiles, accessories, beauty tools, toys, cosmetics, personal care products, snacks, fragrances and perfumes, and stationeries and gifts under the MINISO and WonderLife brand names; and blind boxes, toy bricks, model figures, model kits, collectible dolls, Ichiban Kuji, sculptures, and other popular toys under the TOP TOY brand.