MINISO Group (NYSE:MNSO) Shares Gap Down – Here’s Why

MINISO Group Holding Limited (NYSE:MNSO)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $24.81, but opened at $23.71. MINISO Group shares last traded at $23.74, with a volume of 121,251 shares traded.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. reissued a “neutral” rating and set a $15.00 target price (down from $27.00) on shares of MINISO Group in a report on Tuesday, September 24th. Jefferies Financial Group restated a “hold” rating on shares of MINISO Group in a research report on Monday, September 23rd. Citigroup assumed coverage on MINISO Group in a report on Friday, October 4th. They set a “buy” rating and a $26.80 price target on the stock. Bank of America downgraded MINISO Group from a “buy” rating to an “underperform” rating in a research report on Monday, September 23rd. Finally, Dbs Bank raised MINISO Group to a “strong-buy” rating in a research note on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, MINISO Group presently has an average rating of “Hold” and an average price target of $20.90.

MINISO Group Stock Down 2.4 %

The company has a quick ratio of 1.66, a current ratio of 2.14 and a debt-to-equity ratio of 0.17. The firm has a market cap of $7.42 billion, a price-to-earnings ratio of 21.25, a price-to-earnings-growth ratio of 1.02 and a beta of 0.14. The stock’s 50 day moving average is $19.64 and its 200 day moving average is $18.33.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. M&G PLC lifted its holdings in shares of MINISO Group by 217.5% during the third quarter. M&G PLC now owns 3,611,656 shares of the company’s stock valued at $65,010,000 after purchasing an additional 2,474,207 shares during the last quarter. Sylebra Capital LLC lifted its stake in 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 buying an additional 898,373 shares in the last quarter. Point72 Hong Kong Ltd increased its position 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 in the last quarter. LMR Partners LLP acquired a new stake in shares of MINISO Group during the third quarter valued at approximately $11,384,000. Finally, Point72 Asset Management L.P. boosted its stake in MINISO Group by 138.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,113,200 shares of the company’s stock worth $21,229,000 after purchasing an additional 645,722 shares during the period. Institutional investors own 17.16% of the company’s stock.

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.