MINISO Group (NYSE:MNSO) Downgraded to “Strong Sell” Rating by Zacks Research

MINISO Group (NYSE:MNSO) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday,Zacks.com reports.

MNSO has been the subject of a number of other research reports. JPMorgan Chase & Co. decreased their target price on shares of MINISO Group from $26.00 to $16.00 and set an “overweight” rating for the company in a research note on Friday, May 29th. Wall Street Zen raised MINISO Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of MINISO Group in a research note on Friday, March 27th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $21.73.

MINISO Group Stock Performance

Shares of MNSO stock opened at $12.33 on Monday. The company’s fifty day moving average price is $14.36 and its 200-day moving average price is $17.13. The stock has a market cap of $3.82 billion, a PE ratio of 13.11, a price-to-earnings-growth ratio of 1.59 and a beta of 0.08. The company has a current ratio of 1.53, a quick ratio of 1.14 and a debt-to-equity ratio of 0.76. MINISO Group has a 12 month low of $12.29 and a 12 month high of $26.74.

MINISO Group (NYSE:MNSO) last issued its quarterly earnings results on Friday, May 15th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.18). MINISO Group had a return on equity of 18.98% and a net margin of 9.03%.The business had revenue of $825.04 million during the quarter, compared to the consensus estimate of $805.60 million. On average, equities analysts expect that MINISO Group will post 1.12 EPS for the current fiscal year.

Insider Transactions at MINISO Group

In other news, CEO Guofu Ye bought 150,000 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was acquired at an average cost of $3.35 per share, with a total value of $502,500.00. Following the completion of the acquisition, the chief executive officer owned 315,740,482 shares of the company’s stock, valued at approximately $1,057,730,614.70. This represents a 0.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Yunyun (Alice) Yang bought 150,000 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was purchased at an average price of $3.35 per share, for a total transaction of $502,500.00. Following the purchase, the vice president owned 315,740,482 shares of the company’s stock, valued at approximately $1,057,730,614.70. This represents a 0.05% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have acquired 4,200,000 shares of company stock valued at $13,797,000. 73.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On MINISO Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MNSO. Caitong International Asset Management Co. Ltd purchased a new stake in MINISO Group during the 3rd quarter valued at $25,000. Parallel Advisors LLC raised its stake in shares of MINISO Group by 794.7% in the first quarter. Parallel Advisors LLC now owns 2,192 shares of the company’s stock worth $36,000 after purchasing an additional 1,947 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of MINISO Group by 37.6% in the second quarter. EverSource Wealth Advisors LLC now owns 2,223 shares of the company’s stock worth $41,000 after purchasing an additional 608 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of MINISO Group by 28.3% during the third quarter. PNC Financial Services Group Inc. now owns 2,480 shares of the company’s stock valued at $56,000 after purchasing an additional 547 shares in the last quarter. Finally, Atlas Capital Advisors Inc. bought a new position in shares of MINISO Group during the fourth quarter valued at $126,000. 17.16% of the stock is owned by institutional investors.

MINISO Group Company Profile

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.