MINISO Group (NYSE:MNSO) Shares Gap Down – What’s Next?

Shares of MINISO Group Holding Limited (NYSE:MNSO) gapped down prior to trading on Monday . The stock had previously closed at $27.56, but opened at $26.01. MINISO Group shares last traded at $25.32, with a volume of 788,703 shares changing hands.

Wall Street Analyst Weigh In

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

MINISO Group Price Performance

The stock has a fifty day moving average of $21.59 and a two-hundred day moving average of $18.62. The company has a current ratio of 2.14, a quick ratio of 1.66 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $7.85 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 1.05 and a beta of 0.08.

Institutional Investors Weigh In On MINISO Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. M&G PLC increased its holdings in shares of MINISO Group by 217.5% in 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 in the last quarter. Sylebra Capital LLC increased its stake in shares of MINISO Group by 96.3% in the 2nd 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 during the period. Point72 Hong Kong Ltd raised its position in shares of MINISO Group by 89.1% during 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. lifted its stake 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 during the period. Finally, Point72 Asset Management L.P. boosted its holdings in MINISO Group by 138.1% in the second quarter. Point72 Asset Management L.P. now owns 1,113,200 shares of the company’s stock valued at $21,229,000 after acquiring an additional 645,722 shares during the last quarter. Institutional investors and hedge funds 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.