MINISO Group (NYSE:MNSO) Stock Rating Lowered by Zacks Research

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

A number of other brokerages have also weighed in on MNSO. Weiss Ratings restated a “hold (c)” rating on shares of MINISO Group in a report on Monday, December 29th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of MINISO Group in a research report on Tuesday, November 25th. They issued a “buy” rating and a $23.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $25.13.

MINISO Group Stock Performance

Shares of NYSE MNSO opened at $19.70 on Wednesday. The stock’s 50-day moving average is $20.04 and its 200 day moving average is $20.85. The stock has a market cap of $6.09 billion, a price-to-earnings ratio of 20.30, a P/E/G ratio of 1.37 and a beta of 0.09. MINISO Group has a 1-year low of $13.94 and a 1-year high of $26.74. The company has a current ratio of 1.65, a quick ratio of 1.26 and a debt-to-equity ratio of 0.73.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Nordea Investment Management AB increased its holdings in MINISO Group by 5.7% during the 2nd quarter. Nordea Investment Management AB now owns 397,322 shares of the company’s stock valued at $7,215,000 after purchasing an additional 21,299 shares during the period. Marshall Wace LLP grew its position in shares of MINISO Group by 131.1% in the 2nd quarter. Marshall Wace LLP now owns 1,776,960 shares of the company’s stock worth $32,376,000 after buying an additional 1,008,048 shares during the last quarter. Serenity Capital Management PTE. LTD. increased its stake in shares of MINISO Group by 149.8% during the second quarter. Serenity Capital Management PTE. LTD. now owns 1,157,662 shares of the company’s stock valued at $21,093,000 after buying an additional 694,212 shares during the period. Quadrant Capital Group LLC raised its holdings in shares of MINISO Group by 12,244.7% during the second quarter. Quadrant Capital Group LLC now owns 41,972 shares of the company’s stock valued at $765,000 after acquiring an additional 41,632 shares in the last quarter. Finally, Envestnet Asset Management Inc. purchased a new stake in MINISO Group in the second quarter worth $326,000. 17.16% of the stock is owned by hedge funds and other institutional investors.

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.