MINISO Group (NYSE:MNSO) Shares Down 3.9% – Here’s What Happened

MINISO Group Holding Limited (NYSE:MNSO)’s stock price traded down 3.9% during mid-day trading on Thursday . The company traded as low as $22.08 and last traded at $22.26. 472,614 shares traded hands during trading, a decline of 65% from the average session volume of 1,332,673 shares. The stock had previously closed at $23.17.

Analyst Upgrades and Downgrades

Separately, 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $20.90.

MINISO Group Trading Down 4.4 %

The stock has a market cap of $6.92 billion, a P/E ratio of 19.95, a P/E/G ratio of 0.84 and a beta of 0.08. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.14 and a quick ratio of 1.66. The firm’s 50 day moving average price is $22.58 and its 200-day moving average price is $18.98.

MINISO Group (NYSE:MNSO) last posted its quarterly earnings results on Friday, November 29th. The company reported $0.30 earnings per share for the quarter. MINISO Group had a return on equity of 26.07% and a net margin of 15.18%. As a group, equities research analysts forecast that MINISO Group Holding Limited will post 1.19 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. M&G PLC grew 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 worth $65,010,000 after purchasing an additional 2,474,207 shares during the period. Sylebra Capital LLC boosted its stake in shares of MINISO Group by 96.3% in the 2nd quarter. Sylebra Capital LLC now owns 1,831,002 shares of the company’s stock worth $34,917,000 after buying an additional 898,373 shares during the last quarter. Point72 Hong Kong Ltd grew 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 worth $32,567,000 after acquiring an additional 804,706 shares during the period. Point72 Asset Management L.P. increased its position in MINISO Group by 138.1% during the second quarter. Point72 Asset Management L.P. now owns 1,113,200 shares of the company’s stock valued at $21,229,000 after acquiring an additional 645,722 shares during the last quarter. Finally, LMR Partners LLP bought a new position in MINISO Group in the third quarter valued at about $11,384,000. 17.16% of the stock is owned by hedge funds and other 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.