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

MINISO Group Holding Limited (NYSE:MNSO) gapped down prior to trading on Tuesday . The stock had previously closed at $19.05, but opened at $18.05. MINISO Group shares last traded at $17.91, with a volume of 409,112 shares.

Wall Street Analysts Forecast Growth

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

MINISO Group Price Performance

The firm has a market capitalization of $5.59 billion, a price-to-earnings ratio of 16.46, a P/E/G ratio of 0.79 and a beta of 0.15. The company’s 50 day moving average is $17.45 and its 200-day moving average is $18.82. The company has a current ratio of 2.38, a quick ratio of 1.93 and a debt-to-equity ratio of 0.15.

MINISO Group (NYSE:MNSO) last issued its earnings results on Friday, August 30th. The company reported $0.26 earnings per share (EPS) for the quarter. MINISO Group had a net margin of 15.72% and a return on equity of 26.41%. The business had revenue of $555.26 million during the quarter, compared to the consensus estimate of $557.54 million. Equities research analysts anticipate that MINISO Group Holding Limited will post 1.23 earnings per share for the current year.

MINISO Group Dividend Announcement

The business also recently declared a Semi-Annual dividend, which was paid on Thursday, September 26th. Shareholders of record on Friday, September 13th were issued a $0.274 dividend. The ex-dividend date was Friday, September 13th. This represents a yield of 1.6%. MINISO Group’s dividend payout ratio is currently 49.07%.

Institutional Investors Weigh In On MINISO Group

Hedge funds have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. raised its position in shares of MINISO Group by 33.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 89,668 shares of the company’s stock valued at $1,838,000 after buying an additional 22,643 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of MINISO Group by 5.6% in the first quarter. Janney Montgomery Scott LLC now owns 43,286 shares of the company’s stock valued at $887,000 after buying an additional 2,301 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of MINISO Group in the first quarter valued at approximately $93,000. Fortis Capital Advisors LLC acquired a new stake in shares of MINISO Group in the first quarter valued at approximately $317,000. Finally, Anthracite Investment Company Inc. acquired a new stake in shares of MINISO Group in the first quarter valued at approximately $1,731,000. 17.16% of the stock is currently owned by institutional investors and hedge funds.

MINISO Group Company Profile

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.