MINISO Group (NYSE:MNSO) Shares Gap Down – Here’s What Happened

MINISO Group Holding Limited (NYSE:MNSOGet Free Report) shares gapped down prior to trading on Tuesday . The stock had previously closed at $24.81, but opened at $23.71. MINISO Group shares last traded at $23.74, with a volume of 121,251 shares changing hands.

Analyst Ratings Changes

A number of research firms have recently issued reports on MNSO. Bank of America lowered shares of MINISO Group from a “buy” rating to an “underperform” rating in a research report on Monday, September 23rd. JPMorgan Chase & Co. reissued a “neutral” rating and set a $15.00 target price (down previously from $27.00) on shares of MINISO Group in a research note on Tuesday, September 24th. Jefferies Financial Group reiterated a “hold” rating on shares of MINISO Group in a report on Monday, September 23rd. Citigroup assumed coverage on MINISO Group in a research report on Friday, October 4th. They set a “buy” rating and a $26.80 price objective for the company. Finally, Dbs Bank raised MINISO Group to a “strong-buy” rating in a research report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $20.90.

View Our Latest Report on MNSO

MINISO Group Price Performance

The company has a debt-to-equity ratio of 0.17, a current ratio of 2.14 and a quick ratio of 1.66. The stock has a market capitalization of $7.58 billion, a P/E ratio of 22.38, a PEG ratio of 1.02 and a beta of 0.14. The stock’s fifty day moving average is $19.43 and its 200-day moving average is $18.28.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. M&G PLC increased its holdings in shares of MINISO Group by 217.5% during the 3rd quarter. M&G PLC now owns 3,611,656 shares of the company’s stock worth $65,010,000 after purchasing an additional 2,474,207 shares during the period. Sylebra Capital LLC increased its stake in MINISO Group by 96.3% during the second quarter. Sylebra Capital LLC now owns 1,831,002 shares of the company’s stock valued at $34,917,000 after acquiring an additional 898,373 shares during the period. Point72 Hong Kong Ltd raised its stake in shares of MINISO Group by 89.1% in the second quarter. Point72 Hong Kong Ltd now owns 1,707,749 shares of the company’s stock valued at $32,567,000 after purchasing an additional 804,706 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of MINISO Group by 3.3% in the 2nd quarter. Victory Capital Management Inc. now owns 1,588,191 shares of the company’s stock valued at $30,287,000 after buying an additional 50,650 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its position in MINISO Group by 138.1% in the second quarter. Point72 Asset Management L.P. now owns 1,113,200 shares of the company’s stock worth $21,229,000 after purchasing an additional 645,722 shares in the last quarter. 17.16% of the stock is owned by institutional investors.

About MINISO Group

(Get Free Report)

MINISO Group Holding Limited, an investment holding company, engages in the retail and wholesale of lifestyle products and pop toy products in China, Asia, the United States, and Europe. The company offers products in various categories, including home decor products, small electronics, textiles, accessories, beauty tools, toys, cosmetics, personal care products, snacks, fragrances and perfumes, and stationeries and gifts under the MINISO and WonderLife brand names; and blind boxes, toy bricks, model figures, model kits, collectible dolls, Ichiban Kuji, sculptures, and other popular toys under the TOP TOY brand.

Further Reading

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