MINISO Group (NYSE:MNSO) Shares Gap Down – Should You Sell?

MINISO Group Holding Limited Unsponsored ADR (NYSE:MNSO)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $11.42, but opened at $10.89. MINISO Group shares last traded at $10.8250, with a volume of 162,832 shares.

Analyst Ratings Changes

Several analysts recently commented on the company. JPMorgan Chase & Co. reduced 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. Zacks Research upgraded shares of MINISO Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 28th. Weiss Ratings downgraded shares of MINISO Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, June 25th. Finally, Wall Street Zen raised shares of MINISO Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $19.50.

MINISO Group Stock Down 5.4%

The firm has a 50 day moving average of $11.96 and a 200 day moving average of $14.44. The firm has a market cap of $3.35 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 1.40 and a beta of 0.11. The company has a quick ratio of 1.14, a current ratio of 1.53 and a debt-to-equity ratio of 0.76.

Insider Buying and Selling

In other MINISO Group news, CEO Guofu Ye purchased 1,950,000 shares of the business’s stock in a transaction on Friday, May 29th. The shares were purchased at an average cost of $3.28 per share, for a total transaction of $6,396,000.00. Following the acquisition, the chief executive officer owned 315,590,482 shares of the company’s stock, valued at approximately $1,035,136,780.96. This represents a 0.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Yunyun (Alice) Yang acquired 1,950,000 shares of MINISO Group 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 transaction, the vice president 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. Insiders have acquired a total of 4,200,000 shares of company stock worth $13,797,000 over the last 90 days. Company insiders own 73.50% of the company’s stock.

Institutional Investors Weigh In On MINISO Group

A number of large investors have recently bought and sold shares of MNSO. Royal Bank of Canada boosted its position in shares of MINISO Group by 66.4% during the 1st quarter. Royal Bank of Canada now owns 26,928 shares of the company’s stock worth $498,000 after purchasing an additional 10,747 shares in the last quarter. Goldman Sachs Group Inc. increased its position in MINISO Group by 1.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 315,424 shares of the company’s stock valued at $5,832,000 after buying an additional 5,086 shares in the last quarter. Creative Planning increased its position in MINISO Group by 45.1% in the 2nd quarter. Creative Planning now owns 16,662 shares of the company’s stock valued at $304,000 after buying an additional 5,177 shares in the last quarter. American Century Companies Inc. raised its stake in MINISO Group by 0.4% during the 2nd quarter. American Century Companies Inc. now owns 133,224 shares of the company’s stock worth $2,427,000 after buying an additional 595 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in MINISO Group by 37.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,223 shares of the company’s stock worth $41,000 after buying an additional 608 shares during the period. 17.16% of the stock is currently owned by institutional investors and hedge funds.

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.