MINISO Group (NYSE:MNSO) Now Covered by HSBC

HSBC assumed coverage on shares of MINISO Group (NYSE:MNSO) in a research report sent to investors on Wednesday, MarketBeat.com reports. The firm issued a buy rating and a $29.30 target price on the stock.

MINISO Group Price Performance

Shares of NYSE MNSO opened at $20.72 on Wednesday. MINISO Group has a fifty-two week low of $12.51 and a fifty-two week high of $27.71. The company has a market cap of $6.48 billion, a PE ratio of 18.67, a P/E/G ratio of 0.80 and a beta of 0.07. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.66 and a current ratio of 2.14. The business has a 50-day simple moving average of $23.27 and a two-hundred day simple moving average of $19.92.

MINISO Group (NYSE:MNSO) last released its earnings results on Friday, November 29th. The company reported $0.30 EPS for the quarter. MINISO Group had a net margin of 15.18% and a return on equity of 26.07%. As a group, equities analysts expect that MINISO Group will post 1.19 EPS for the current fiscal year.

Hedge Funds Weigh In On MINISO Group

Several hedge funds have recently made changes to their positions in MNSO. Blue Trust Inc. grew its stake in MINISO Group by 167.0% during the 3rd quarter. Blue Trust Inc. now owns 5,210 shares of the company’s stock valued at $99,000 after purchasing an additional 3,259 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of MINISO Group during the third quarter worth about $923,000. DekaBank Deutsche Girozentrale boosted its position in MINISO Group by 3.7% in the third quarter. DekaBank Deutsche Girozentrale now owns 19,573 shares of the company’s stock valued at $378,000 after buying an additional 690 shares during the last quarter. M&G PLC increased its holdings in MINISO Group by 217.5% in the 3rd quarter. M&G PLC now owns 3,611,656 shares of the company’s stock worth $65,010,000 after buying an additional 2,474,207 shares during the period. Finally, XY Capital Ltd purchased a new position in MINISO Group during the 3rd quarter worth approximately $5,134,000. 17.16% of the stock is owned by institutional investors and hedge funds.

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.