MINISO Group (NYSE:MNSO) Stock Rating Lowered by Zacks Research

MINISO Group (NYSE:MNSO) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday,Zacks.com reports.

Other research analysts have also issued research reports about the company. Wall Street Zen raised MINISO Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. JPMorgan Chase & Co. dropped their target price on MINISO Group from $26.00 to $16.00 and set an “overweight” rating on the stock in a report on Friday, May 29th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of MINISO Group in a report on Friday, March 27th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $21.73.

MINISO Group Stock Down 4.2%

Shares of NYSE:MNSO opened at $12.33 on Monday. MINISO Group has a 52-week low of $12.29 and a 52-week high of $26.74. The firm has a market capitalization of $3.82 billion, a P/E ratio of 13.11, a P/E/G ratio of 1.59 and a beta of 0.08. The stock has a 50 day moving average price of $14.36 and a 200-day moving average price of $17.13. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.14 and a current ratio of 1.53.

MINISO Group (NYSE:MNSO) last announced its earnings results on Friday, May 15th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.18). MINISO Group had a return on equity of 18.98% and a net margin of 9.03%.The firm had revenue of $825.04 million during the quarter, compared to the consensus estimate of $805.60 million. As a group, equities research analysts anticipate that MINISO Group will post 1.12 EPS for the current fiscal year.

Insider Buying and Selling at MINISO Group

In related news, CEO Guofu Ye bought 150,000 shares of the company’s stock in a transaction on Monday, June 1st. The shares were acquired at an average cost of $3.35 per share, with a total value of $502,500.00. Following the completion of the acquisition, the chief executive officer owned 315,740,482 shares of the company’s stock, valued at $1,057,730,614.70. The trade was a 0.05% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Yunyun (Alice) Yang acquired 150,000 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was acquired at an average cost of $3.35 per share, for a total transaction of $502,500.00. Following the completion of the transaction, the vice president directly owned 315,740,482 shares in the company, valued at $1,057,730,614.70. This represents a 0.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 4,200,000 shares of company stock worth $13,797,000 over the last three months. Corporate insiders own 73.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MNSO. WFM ASIA BVI Ltd purchased a new position in shares of MINISO Group in the third quarter worth $35,624,000. Serenity Capital Management PTE. LTD. raised its stake in shares of MINISO Group by 74.9% in the fourth quarter. Serenity Capital Management PTE. LTD. now owns 2,024,455 shares of the company’s stock worth $37,959,000 after purchasing an additional 866,793 shares during the last quarter. Millennium Management LLC raised its stake in shares of MINISO Group by 167.5% in the third quarter. Millennium Management LLC now owns 971,884 shares of the company’s stock worth $21,867,000 after purchasing an additional 608,544 shares during the last quarter. Tiger Pacific Capital LP purchased a new position in shares of MINISO Group in the third quarter worth $6,300,000. Finally, Marshall Wace LLP raised its stake in shares of MINISO Group by 15.8% in the fourth quarter. Marshall Wace LLP now owns 1,981,202 shares of the company’s stock worth $37,148,000 after purchasing an additional 270,765 shares during the last quarter. Hedge funds and other institutional investors own 17.16% of the company’s stock.

MINISO Group Company Profile

MINISO Group (NYSE: MNSO) is a global retailer specializing in lifestyle and consumer goods. Since its founding in 2013, the company has focused on offering affordable, design-driven products across a broad range of categories. MINISO’s stores feature a clean, minimalist layout and emphasize a “fast fashion” inventory model designed to turn over goods quickly and respond to emerging trends.

The company’s product mix spans household items, kitchenware, cosmetics and personal care, stationery, toys, digital accessories, apparel and seasonal items.