MINISO Group (NYSE:MNSO) Shares Gap Down – Time to Sell?

MINISO Group Holding Limited (NYSE:MNSO)’s share price gapped down before the market opened on Friday . The stock had previously closed at $18.05, but opened at $17.63. MINISO Group shares last traded at $17.43, with a volume of 141,482 shares.

Analyst Upgrades and Downgrades

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

MINISO Group Trading Down 3.5 %

The business has a 50-day moving average of $16.62 and a 200-day moving average of $19.01. The company has a quick ratio of 1.93, a current ratio of 2.38 and a debt-to-equity ratio of 0.15. The stock has a market cap of $5.50 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 0.72 and a beta of 0.18.

MINISO Group (NYSE:MNSO) last released its quarterly earnings results on Friday, August 30th. The company reported $0.26 EPS for the quarter. MINISO Group had a net margin of 15.72% and a return on equity of 26.41%. The company had revenue of $555.26 million for the quarter, compared to analyst estimates of $557.54 million. As a group, research analysts forecast that MINISO Group Holding Limited will post 1.23 earnings per share for the current year.

MINISO Group Announces Dividend

The business also recently announced a Semi-Annual dividend, which was paid on Thursday, September 26th. Stockholders of record on Friday, September 13th were issued a $0.274 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a dividend yield of 1.6%. MINISO Group’s payout ratio is presently 49.07%.

Institutional Investors Weigh In On MINISO Group

A number of large investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of MINISO Group in the 2nd quarter worth $26,000. Blue Trust Inc. increased its stake in shares of MINISO Group by 3,098.4% during the 2nd quarter. Blue Trust Inc. now owns 1,951 shares of the company’s stock worth $40,000 after purchasing an additional 1,890 shares during the last quarter. Headlands Technologies LLC acquired a new position in MINISO Group during the first quarter worth approximately $93,000. Banque Cantonale Vaudoise acquired a new stake in MINISO Group during the 2nd quarter valued at $118,000. Finally, Bayesian Capital Management LP bought a new stake in shares of MINISO Group during the 1st quarter worth about $201,000. 17.16% of the stock is currently owned by institutional investors.

About MINISO Group

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.