MINISO Group (NYSE:MNSO) Sees Large Volume Increase – Here’s Why

Shares of MINISO Group Holding Limited Unsponsored ADR (NYSE:MNSO) saw strong trading volume on Thursday . Approximately 591,149 shares traded hands during trading, an increase of 5% from the previous session’s volume of 563,196 shares.The stock last traded at $12.4040 and had previously closed at $12.50.

Wall Street Analysts Forecast Growth

MNSO has been the topic of a number of recent research reports. Zacks Research downgraded MINISO Group from a “hold” rating to a “strong sell” rating in a research report on Monday, June 15th. JPMorgan Chase & Co. lowered their price target on MINISO Group from $26.00 to $16.00 and set an “overweight” rating for the company in a report on Friday, May 29th. Weiss Ratings cut shares of MINISO Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, June 25th. Finally, Wall Street Zen upgraded MINISO Group from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, MINISO Group currently has a consensus rating of “Hold” and an average price target of $21.73.

MINISO Group Stock Performance

The company has a current ratio of 1.53, a quick ratio of 1.14 and a debt-to-equity ratio of 0.76. The company has a market cap of $3.81 billion, a PE ratio of 13.10, a P/E/G ratio of 1.55 and a beta of 0.10. The firm’s 50-day simple moving average is $12.61 and its two-hundred day simple moving average is $15.74.

MINISO Group (NYSE:MNSO) last posted its quarterly earnings results on Friday, May 15th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.17). The company had revenue of $825.04 million during the quarter, compared to analysts’ expectations of $805.60 million. MINISO Group had a return on equity of 18.98% and a net margin of 9.03%. As a group, research analysts anticipate that MINISO Group Holding Limited Unsponsored ADR will post 1.12 earnings per share for the current fiscal year.

Insider Transactions at MINISO Group

In other news, CEO Guofu Ye bought 150,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was purchased at an average price of $3.35 per share, with a total value of $502,500.00. Following the completion of the acquisition, the chief executive officer directly owned 315,740,482 shares of the company’s stock, valued at $1,057,730,614.70. This trade represents a 0.05% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Yunyun (Alice) Yang bought 150,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was purchased at an average price of $3.35 per share, for a total transaction of $502,500.00. Following the transaction, the vice president 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 ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 4,200,000 shares of company stock valued at $13,797,000 in the last ninety days. Corporate insiders own 73.50% of the company’s stock.

Institutional Trading of MINISO Group

Large investors have recently made changes to their positions in the business. Ameriprise Financial Inc. increased its holdings 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 acquiring an additional 498 shares in the last quarter. PNC Financial Services Group Inc. raised its position in MINISO Group by 28.3% during the third quarter. PNC Financial Services Group Inc. now owns 2,480 shares of the company’s stock worth $56,000 after acquiring an additional 547 shares during the period. American Century Companies Inc. lifted its holdings in MINISO Group by 0.4% during the second 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 in the last quarter. EverSource Wealth Advisors LLC lifted its stake in MINISO Group by 37.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,223 shares of the company’s stock valued at $41,000 after buying an additional 608 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in MINISO Group by 1.4% in the 4th quarter. Quadrant Capital Group LLC now owns 42,897 shares of the company’s stock worth $804,000 after buying an additional 609 shares during the last quarter. 17.16% of the stock is owned by hedge funds and other institutional investors.

About MINISO Group

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.