MINISO Group (NYSE:MNSO) Trading Down 3% – What’s Next?

MINISO Group Holding Limited Unsponsored ADR (NYSE:MNSO) shares traded down 3% during mid-day trading on Thursday . The stock traded as low as $19.83 and last traded at $19.9590. 198,546 shares were traded during mid-day trading, a decline of 82% from the average session volume of 1,075,455 shares. The stock had previously closed at $20.58.

Analyst Upgrades and Downgrades

Several analysts recently commented on MNSO shares. Dbs Bank raised shares of MINISO Group to a “moderate buy” rating in a research note on Friday, August 22nd. Bank of America raised MINISO Group from an “underperform” rating to a “neutral” rating in a research note on Thursday, August 21st. Jefferies Financial Group raised MINISO Group from a “hold” rating to a “buy” rating and upped their target price for the company from $18.50 to $26.20 in a report on Friday, August 22nd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of MINISO Group in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, MINISO Group has an average rating of “Moderate Buy” and an average target price of $24.38.

MINISO Group Price Performance

The stock’s fifty day moving average is $22.10 and its 200-day moving average is $20.64. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.92 and a quick ratio of 1.50. The stock has a market capitalization of $6.07 billion, a P/E ratio of 18.35, a PEG ratio of 1.25 and a beta of 0.15.

MINISO Group (NYSE:MNSO) last announced its earnings results on Thursday, August 21st. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($1.52). MINISO Group had a return on equity of 22.60% and a net margin of 12.63%.The company had revenue of $692.93 million for the quarter, compared to the consensus estimate of $4.85 billion. On average, equities analysts anticipate that MINISO Group Holding Limited Unsponsored ADR will post 1.19 earnings per share for the current year.

Hedge Funds Weigh In On MINISO Group

Several large investors have recently made changes to their positions in the business. Ameriprise Financial Inc. increased its position in MINISO Group by 3.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 15,268 shares of the company’s stock worth $344,000 after buying an additional 498 shares during the period. PNC Financial Services Group Inc. raised its stake in MINISO Group by 28.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,480 shares of the company’s stock valued at $56,000 after purchasing an additional 547 shares during the last quarter. American Century Companies Inc. boosted its holdings in MINISO Group by 0.4% in the 2nd quarter. American Century Companies Inc. now owns 133,224 shares of the company’s stock valued at $2,427,000 after purchasing an additional 595 shares during the period. EverSource Wealth Advisors LLC grew its position in MINISO Group by 37.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,223 shares of the company’s stock worth $41,000 after purchasing an additional 608 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of MINISO Group during the 3rd quarter worth about $25,000. Institutional investors and hedge funds 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.