MINISO Group (NYSE:MNSO) Shares Gap Down – What’s Next?

MINISO Group Holding Limited Unsponsored ADR (NYSE:MNSO)’s stock price gapped down before the market opened 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 trading hands.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MNSO. Weiss Ratings cut MINISO Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, June 25th. 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 price objective on MINISO Group from $26.00 to $16.00 and set an “overweight” rating for the company in a report on Friday, May 29th. Finally, Zacks Research upgraded MINISO Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Two research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $19.50.

MINISO Group Stock Performance

The company’s 50-day moving average price is $11.91 and its 200 day moving average price is $14.36. The stock has a market capitalization of $3.20 billion, a PE ratio of 10.99, a PEG ratio of 1.34 and a beta of 0.11. 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 quarterly earnings results on Friday, August 14th. The company reported $0.26 earnings per share (EPS) for the quarter. MINISO Group had a net margin of 9.03% and a return on equity of 18.98%. The company had revenue of $855.25 million for the quarter. On average, equities research analysts expect that MINISO Group Holding Limited Unsponsored ADR will post 1.12 earnings per share for the current fiscal year.

Insider Activity at MINISO Group

In other news, CEO Guofu Ye bought 150,000 shares of the stock in a transaction dated Monday, June 1st. The stock was bought at an average price of $3.35 per share, for a total transaction of $502,500.00. Following the purchase, the chief executive officer directly owned 315,740,482 shares in the company, valued at $1,057,730,614.70. This trade represents a 0.05% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Yunyun (Alice) Yang purchased 150,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were purchased at an average price 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 of the company’s stock, valued at $1,057,730,614.70. This represents a 0.05% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 73.50% of the company’s stock.

Institutional Trading of MINISO Group

Hedge funds have recently modified their holdings of the business. Serenity Capital Management PTE. LTD. increased its stake in shares of MINISO Group by 74.9% in the 4th quarter. Serenity Capital Management PTE. LTD. now owns 2,024,455 shares of the company’s stock worth $37,959,000 after acquiring an additional 866,793 shares in the last quarter. Marshall Wace LLP lifted its position in MINISO Group by 15.8% during the 4th quarter. Marshall Wace LLP now owns 1,981,202 shares of the company’s stock valued at $37,148,000 after acquiring an additional 270,765 shares during the period. Orbis Allan Gray Ltd boosted its stake in MINISO Group by 0.7% during the fourth quarter. Orbis Allan Gray Ltd now owns 1,792,873 shares of the company’s stock worth $33,616,000 after acquiring an additional 12,468 shares in the last quarter. Millennium Management LLC boosted its stake in MINISO Group by 38.3% during the fourth quarter. Millennium Management LLC now owns 1,344,121 shares of the company’s stock worth $25,202,000 after acquiring an additional 372,237 shares in the last quarter. Finally, Crossmark Global Holdings Inc. grew its holdings in MINISO Group by 1.9% in the fourth quarter. Crossmark Global Holdings Inc. now owns 673,402 shares of the company’s stock worth $12,626,000 after purchasing an additional 12,315 shares during the period. Institutional investors own 17.16% of the company’s stock.

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.