ABS Direct Equity Fund LLC Cuts Stock Position in MINISO Group Holding Limited (NYSE:MNSO)

ABS Direct Equity Fund LLC reduced its stake in MINISO Group Holding Limited (NYSE:MNSO) by 16.7% in the 4th quarter, Holdings Channel reports. The firm owned 77,441 shares of the company’s stock after selling 15,500 shares during the quarter. MINISO Group accounts for approximately 2.1% of ABS Direct Equity Fund LLC’s portfolio, making the stock its 18th biggest position. ABS Direct Equity Fund LLC’s holdings in MINISO Group were worth $1,850,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. LMR Partners LLP purchased a new position in MINISO Group in the third quarter valued at about $11,384,000. Point72 Asset Management L.P. grew its position in shares of 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 buying an additional 645,722 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of MINISO Group during the 3rd quarter worth approximately $923,000. Nordea Investment Management AB lifted its stake in MINISO Group by 14.9% in the fourth quarter. Nordea Investment Management AB now owns 333,729 shares of the company’s stock valued at $8,020,000 after buying an additional 43,151 shares during the last quarter. Finally, Erste Asset Management GmbH acquired a new position in MINISO Group during the 3rd quarter valued at about $685,000. 17.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Citigroup started 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 on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, MINISO Group has an average rating of “Hold” and an average target price of $20.90.

MINISO Group Trading Down 1.6 %

MINISO Group stock opened at $22.83 on Tuesday. MINISO Group Holding Limited has a 1 year low of $12.51 and a 1 year high of $27.71. The firm has a market cap of $7.13 billion, a price-to-earnings ratio of 20.57, a price-to-earnings-growth ratio of 0.82 and a beta of 0.08. 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 firm’s 50 day moving average price is $22.91 and its two-hundred day moving average price is $19.07.

MINISO Group (NYSE:MNSO) last announced 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%. On average, research analysts predict that MINISO Group Holding Limited will post 1.19 EPS for the current fiscal year.

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.