MINISO Group (NYSE:MNSO) Raised to “Hold” at Zacks Research

MINISO Group (NYSE:MNSO) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other analysts have also recently issued reports about the stock. Wall Street Zen raised shares of MINISO Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Weiss Ratings lowered MINISO Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, June 25th. Finally, JPMorgan Chase & Co. decreased their price objective on MINISO Group from $26.00 to $16.00 and set an “overweight” rating on the stock in a report on Friday, May 29th. 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 MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $21.73.

MINISO Group Trading Up 3.7%

MINISO Group stock opened at $12.97 on Tuesday. The stock has a 50-day moving average price of $12.45 and a 200 day moving average price of $15.49. MINISO Group has a 52 week low of $11.12 and a 52 week high of $26.74. The stock has a market cap of $4.02 billion, a PE ratio of 13.80, a P/E/G ratio of 1.55 and a beta of 0.10. The company has a current ratio of 1.53, a quick ratio of 1.14 and a debt-to-equity ratio of 0.76.

MINISO Group (NYSE:MNSO) last released its quarterly earnings results on Friday, May 15th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.17). The firm had revenue of $825.04 million for the quarter, compared to analyst estimates of $805.60 million. MINISO Group had a return on equity of 18.98% and a net margin of 9.03%. Equities research analysts predict that MINISO Group will post 1.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Yunyun (Alice) Yang purchased 1,950,000 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were bought at an average price of $3.28 per share, for a total transaction of $6,396,000.00. Following the acquisition, the vice president directly owned 315,590,482 shares in the company, valued at $1,035,136,780.96. This trade represents a 0.62% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Guofu Ye acquired 1,950,000 shares of the stock in a transaction dated Friday, May 29th. The shares were bought at an average cost of $3.28 per share, with a total value of $6,396,000.00. Following the completion of the purchase, the chief executive officer directly owned 315,590,482 shares in the company, valued at approximately $1,035,136,780.96. This trade represents a 0.62% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have acquired 4,200,000 shares of company stock worth $13,797,000. 73.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MINISO Group

A number of institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new stake in MINISO Group during the third quarter worth about $25,000. Parallel Advisors LLC raised its holdings in shares of MINISO Group by 794.7% in the 1st quarter. Parallel Advisors LLC now owns 2,192 shares of the company’s stock worth $36,000 after purchasing an additional 1,947 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of 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 purchasing an additional 608 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of MINISO Group by 28.3% in 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 in the last quarter. Finally, Atlas Capital Advisors Inc. purchased a new stake in shares of MINISO Group during the 4th quarter worth about $126,000. 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.