Point72 Hong Kong Ltd Cuts Holdings in MINISO Group Holding Limited (NYSE:MNSO)

Point72 Hong Kong Ltd cut its holdings in MINISO Group Holding Limited (NYSE:MNSO) by 96.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,000 shares of the company’s stock after selling 1,646,749 shares during the quarter. Point72 Hong Kong Ltd’s holdings in MINISO Group were worth $1,070,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in MINISO Group in the second quarter valued at about $26,000. Blue Trust Inc. increased its stake in MINISO Group by 3,098.4% in the 2nd quarter. Blue Trust Inc. now owns 1,951 shares of the company’s stock valued at $40,000 after purchasing an additional 1,890 shares in the last quarter. FMR LLC increased its stake in MINISO Group by 230.2% in the 3rd quarter. FMR LLC now owns 4,137 shares of the company’s stock valued at $73,000 after purchasing an additional 2,884 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in MINISO Group during the third quarter worth $78,000. Finally, Banque Cantonale Vaudoise purchased a new stake in MINISO Group during the second quarter worth $118,000. Institutional investors and hedge funds own 17.16% of the company’s stock.

Analyst Upgrades and Downgrades

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

MINISO Group Price Performance

NYSE:MNSO opened at $20.01 on Monday. The firm has a market cap of $6.30 billion, a price-to-earnings ratio of 18.03, a price-to-earnings-growth ratio of 0.82 and a beta of 0.15. MINISO Group Holding Limited has a 12-month low of $12.51 and a 12-month high of $26.48. The company has a current ratio of 2.38, a quick ratio of 1.93 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average is $17.90 and its two-hundred day moving average is $18.20.

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

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.