MINISO Group (NYSE:MNSO) Trading 5.8% Higher – Time to Buy?

MINISO Group Holding Limited (NYSE:MNSO) shares traded up 5.8% during mid-day trading on Tuesday . The company traded as high as $25.49 and last traded at $25.47. 859,225 shares traded hands during trading, a decline of 61% from the average session volume of 2,186,123 shares. The stock had previously closed at $24.07.

Wall Street Analyst Weigh In

MNSO has been the topic of several research analyst reports. Jefferies Financial Group restated a “hold” rating on shares of MINISO Group in a research report on Monday, September 23rd. Dbs Bank raised shares of MINISO Group to a “strong-buy” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $15.00 price objective (down from $27.00) on shares of MINISO Group in a report on Tuesday, September 24th. Citigroup initiated coverage on MINISO Group in a research note on Friday, October 4th. They issued a “buy” rating and a $26.80 target price on the stock. Finally, Bank of America cut MINISO Group from a “buy” rating to an “underperform” rating in a report on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, MINISO Group presently has an average rating of “Hold” and a consensus target price of $20.90.

MINISO Group Stock Performance

The business’s 50-day moving average is $21.47 and its 200 day moving average is $18.59. 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 company has a market cap of $8.01 billion, a PE ratio of 22.93, a PEG ratio of 1.05 and a beta of 0.08.

Institutional Trading of MINISO Group

A number of institutional investors have recently made changes to their positions in the stock. M&G PLC raised its holdings in MINISO Group by 217.5% during the 3rd quarter. M&G PLC now owns 3,611,656 shares of the company’s stock valued at $65,010,000 after buying an additional 2,474,207 shares during the last quarter. Sylebra Capital LLC raised its stake in shares of 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 last quarter. Point72 Hong Kong Ltd boosted its holdings in shares of MINISO Group by 89.1% during the second quarter. Point72 Hong Kong Ltd now owns 1,707,749 shares of the company’s stock worth $32,567,000 after purchasing an additional 804,706 shares during the period. Victory Capital Management Inc. grew its stake 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 worth $30,287,000 after purchasing an additional 50,650 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its holdings 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 valued at $21,229,000 after purchasing an additional 645,722 shares during the period. Hedge funds and other institutional investors 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.