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

MINISO Group Holding Limited (NYSE:MNSO) shares gapped down before the market opened on Friday . The stock had previously closed at $25.13, but opened at $24.14. MINISO Group shares last traded at $24.21, with a volume of 135,535 shares changing hands.

Wall Street Analyst Weigh In

MNSO has been the subject of a number of research reports. Dbs Bank upgraded MINISO Group to a “strong-buy” rating in a research report on Tuesday, September 24th. Bank of America cut MINISO Group from a “buy” rating to an “underperform” rating in a research report on Monday, September 23rd. Citigroup started coverage on shares of MINISO Group in a report on Friday, October 4th. They issued a “buy” rating and a $26.80 price target on the stock. Jefferies Financial Group reaffirmed a “hold” rating on shares of MINISO Group in a report on Monday, September 23rd. Finally, 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 research report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $20.90.

MINISO Group Price Performance

The company has a 50-day moving average of $20.49 and a 200 day moving average of $18.44. The firm has a market cap of $7.61 billion, a P/E ratio of 21.80, a P/E/G ratio of 1.05 and a beta of 0.14. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.66 and a current ratio of 2.14.

Institutional Investors Weigh In On MINISO Group

A number of hedge funds have recently made changes to their positions in MNSO. M&G PLC raised its position in MINISO Group by 217.5% in the 3rd quarter. M&G PLC now owns 3,611,656 shares of the company’s stock valued at $65,010,000 after purchasing an additional 2,474,207 shares during the last quarter. Sylebra Capital LLC increased its stake in shares of MINISO Group by 96.3% in the second quarter. Sylebra Capital LLC now owns 1,831,002 shares of the company’s stock valued at $34,917,000 after buying an additional 898,373 shares in the last quarter. Point72 Hong Kong Ltd raised its holdings 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 buying an additional 804,706 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of MINISO Group by 3.3% in the second 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 during the last quarter. Finally, Point72 Asset Management L.P. lifted its position in MINISO Group by 138.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,113,200 shares of the company’s stock worth $21,229,000 after buying an additional 645,722 shares in the last quarter. Institutional investors and hedge funds own 17.16% of the company’s stock.

MINISO Group Company Profile

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.