MINISO Group (NYSE:MNSO) Shares Gap Down – Here’s Why

MINISO Group Holding Limited (NYSE:MNSO) shares gapped down prior to trading on Wednesday . The stock had previously closed at $16.58, but opened at $15.63. MINISO Group shares last traded at $15.52, with a volume of 351,459 shares traded.

Analyst Upgrades and Downgrades

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

MINISO Group Price Performance

The company has a market cap of $4.86 billion, a PE ratio of 14.00, a price-to-earnings-growth ratio of 0.80 and a beta of 0.18. The company has a quick ratio of 1.66, a current ratio of 2.14 and a debt-to-equity ratio of 0.17. The firm has a 50 day simple moving average of $19.56 and a 200-day simple moving average of $20.62.

MINISO Group (NYSE:MNSO) last announced its quarterly earnings data on Friday, March 21st. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $2.61 by ($2.25). The business had revenue of $646.49 million for the quarter, compared to analyst estimates of $4.82 billion. MINISO Group had a net margin of 15.18% and a return on equity of 26.07%. As a group, research analysts predict that MINISO Group Holding Limited will post 1.19 earnings per share for the current fiscal year.

MINISO Group Announces Dividend

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

Hedge Funds Weigh In On MINISO Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vise Technologies Inc. acquired a new stake in shares of MINISO Group in the fourth quarter valued at approximately $366,000. Vident Advisory LLC grew its position 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 acquiring an additional 5,523 shares in the last quarter. Two Sigma Advisers LP purchased a new position in shares of MINISO Group in the fourth quarter valued at approximately $237,000. Two Sigma Investments LP acquired a new position in shares of MINISO Group in the fourth quarter worth $1,514,000. Finally, Tairen Capital Ltd raised its position in MINISO Group by 211.7% in the 4th quarter. Tairen Capital Ltd now owns 218,170 shares of the company’s stock valued at $5,212,000 after purchasing an additional 148,170 shares in the last quarter. Hedge funds and other institutional investors own 17.16% of the company’s stock.

About MINISO Group

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.