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

Shares of MINISO Group Holding Limited (NYSE:MNSO) gapped down before the market opened on Friday . The stock had previously closed at $18.05, but opened at $17.63. MINISO Group shares last traded at $17.43, with a volume of 141,482 shares changing hands.

Wall Street Analysts Forecast Growth

MNSO has been the topic of a number of analyst reports. Jefferies Financial Group reiterated a “hold” rating on shares of MINISO Group in a research report on Monday, September 23rd. Bank of America lowered MINISO Group from a “buy” rating to an “underperform” rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. restated a “neutral” rating and set a $15.00 price target (down from $27.00) on shares of MINISO Group in a research report on Tuesday, September 24th. Dbs Bank raised MINISO Group to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, Citigroup began coverage on shares of MINISO Group in a report on Friday, October 4th. They set a “buy” rating and a $26.80 price target for the company. One 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $20.90.

MINISO Group Stock Performance

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 business has a fifty day moving average of $16.67 and a 200-day moving average of $18.97. The company has a market cap of $5.50 billion, a PE ratio of 16.42, a P/E/G ratio of 0.72 and a beta of 0.18.

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

MINISO Group Dividend Announcement

The business also recently announced a Semi-Annual dividend, which was paid on Thursday, September 26th. Stockholders of record on Friday, September 13th were paid a dividend of $0.274 per share. This represents a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, September 13th. MINISO Group’s payout ratio is 49.06%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. KEYWISE CAPITAL MANAGEMENT HK Ltd grew its position in shares of MINISO Group by 37.8% in the 1st quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd now owns 5,223,450 shares of the company’s stock worth $107,081,000 after buying an additional 1,433,950 shares during the period. Sylebra Capital LLC boosted its holdings in MINISO Group by 96.3% in the second quarter. Sylebra Capital LLC now owns 1,831,002 shares of the company’s stock worth $34,917,000 after acquiring an additional 898,373 shares in the last quarter. Point72 Hong Kong Ltd grew its stake 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 during the last quarter. Victory Capital Management Inc. increased its holdings in shares of MINISO Group by 3.3% during the second quarter. Victory Capital Management Inc. now owns 1,588,191 shares of the company’s stock valued at $30,287,000 after acquiring an additional 50,650 shares in the last quarter. Finally, M&G Plc raised its position in shares of MINISO Group by 129.0% in the 2nd quarter. M&G Plc now owns 1,137,449 shares of the company’s stock worth $21,612,000 after purchasing an additional 640,718 shares during the last quarter. Hedge funds and other 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.