MINISO Group (NYSE:MNSO) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of MINISO Group (NYSE:MNSO) from a strong sell rating to a hold rating in a research report released on Tuesday,Zacks.com reports.

MNSO has been the subject of several other research reports. JPMorgan Chase & Co. decreased their target price on shares of MINISO Group from $26.00 to $16.00 and set an “overweight” rating for the company in a research report on Friday, May 29th. Wall Street Zen upgraded MINISO Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. Finally, Weiss Ratings lowered MINISO Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, June 25th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $21.73.

MINISO Group Price Performance

Shares of MNSO opened at $12.97 on Tuesday. MINISO Group has a 52 week low of $11.12 and a 52 week high of $26.74. 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 firm has a market cap of $4.02 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 1.55 and a beta of 0.10. The stock has a 50 day moving average of $12.45 and a 200-day moving average of $15.49.

MINISO Group (NYSE:MNSO) last announced its quarterly earnings data 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). 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 for the quarter, compared to the consensus estimate of $805.60 million. As a group, analysts forecast that MINISO Group will post 1.12 EPS for the current year.

Insider Activity

In related news, VP Yunyun (Alice) Yang bought 150,000 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was bought at an average price of $3.35 per share, with a total value of $502,500.00. Following the purchase, the vice president directly owned 315,740,482 shares of the company’s stock, valued at approximately $1,057,730,614.70. This represents a 0.05% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Guofu Ye acquired 150,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were 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 owned 315,740,482 shares of the company’s stock, valued at $1,057,730,614.70. This represents a 0.05% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders purchased 4,200,000 shares of company stock valued at $13,797,000. Company insiders own 73.50% of the company’s stock.

Institutional Investors Weigh In On MINISO Group

Several institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new position in shares of MINISO Group during the 3rd quarter valued at $25,000. Parallel Advisors LLC boosted its holdings in MINISO Group by 794.7% in the first quarter. Parallel Advisors LLC now owns 2,192 shares of the company’s stock worth $36,000 after purchasing an additional 1,947 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in MINISO Group by 37.6% during the second 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 last quarter. PNC Financial Services Group Inc. raised its holdings 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 valued at $56,000 after buying an additional 547 shares in the last quarter. Finally, Atlas Capital Advisors Inc. bought a new position in MINISO Group during the fourth quarter valued at about $126,000. 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.