MINISO Group (NYSE:MNSO) Stock Rating Upgraded by Zacks Research

MINISO Group (NYSE:MNSO) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Thursday,Zacks.com reports.

MNSO has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft started coverage on shares of MINISO Group in a report on Tuesday, November 25th. They set a “buy” rating and a $23.00 price target for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MINISO Group in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $25.13.

MINISO Group Stock Performance

Shares of MINISO Group stock opened at $18.92 on Thursday. The stock has a market cap of $5.85 billion, a price-to-earnings ratio of 19.51, a P/E/G ratio of 1.34 and a beta of 0.13. MINISO Group has a twelve month low of $13.94 and a twelve month high of $26.74. The company’s fifty day moving average is $19.44 and its 200 day moving average is $21.04. The company has a quick ratio of 1.26, a current ratio of 1.65 and a debt-to-equity ratio of 0.73.

Institutional Trading of MINISO Group

A number of large investors have recently added to or reduced their stakes in MNSO. Marshall Wace LLP boosted its stake in MINISO Group by 131.1% in the second quarter. Marshall Wace LLP now owns 1,776,960 shares of the company’s stock valued at $32,376,000 after acquiring an additional 1,008,048 shares during the last quarter. WFM ASIA BVI Ltd bought a new stake in shares of MINISO Group in the 3rd quarter worth approximately $35,624,000. Serenity Capital Management PTE. LTD. lifted its stake in MINISO Group by 149.8% in the second quarter. Serenity Capital Management PTE. LTD. now owns 1,157,662 shares of the company’s stock valued at $21,093,000 after purchasing an additional 694,212 shares during the last quarter. HCEP Management Ltd grew its holdings in MINISO Group by 2.4% during the third quarter. HCEP Management Ltd now owns 998,251 shares of the company’s stock valued at $22,461,000 after purchasing an additional 23,300 shares during the period. Finally, Millennium Management LLC increased its position in MINISO Group by 167.5% in the third quarter. Millennium Management LLC now owns 971,884 shares of the company’s stock worth $21,867,000 after buying an additional 608,544 shares during the last quarter. Hedge funds and other institutional investors own 17.16% of the company’s stock.

About MINISO Group

MINISO Group (NYSE: MNSO) is a global retailer specializing in lifestyle and consumer goods. Since its founding in 2013, the company has focused on offering affordable, design-driven products across a broad range of categories. MINISO’s stores feature a clean, minimalist layout and emphasize a “fast fashion” inventory model designed to turn over goods quickly and respond to emerging trends.

The company’s product mix spans household items, kitchenware, cosmetics and personal care, stationery, toys, digital accessories, apparel and seasonal items.