MINISO Group (NYSE:MNSO) Shares Gap Up – Time to Buy?

MINISO Group Holding Limited (NYSE:MNSO) gapped up prior to trading on Monday . The stock had previously closed at $20.01, but opened at $23.01. MINISO Group shares last traded at $22.50, with a volume of 2,172,750 shares changing hands.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MNSO. JPMorgan Chase & Co. reiterated 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. Bank of America cut MINISO Group from a “buy” rating to an “underperform” rating in a research note on Monday, September 23rd. Citigroup started coverage on shares of MINISO Group in a report on Friday, October 4th. They issued a “buy” rating and a $26.80 price objective on the stock. Dbs Bank raised shares of MINISO Group to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, Jefferies Financial Group restated a “hold” rating on shares of MINISO Group in a research note on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, MINISO Group presently has a consensus rating of “Hold” and a consensus target price of $20.90.

MINISO Group Stock Up 11.9 %

The firm has a market cap of $7.05 billion, a price-to-earnings ratio of 20.17, a P/E/G ratio of 0.82 and a beta of 0.15. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.38 and a quick ratio of 1.93. The firm’s fifty day moving average is $17.90 and its two-hundred day moving average is $18.20.

MINISO Group (NYSE:MNSO) last posted its quarterly earnings data on Friday, August 30th. The company reported $0.26 EPS for the quarter. The business had revenue of $555.26 million for the quarter, compared to analyst estimates of $557.54 million. MINISO Group had a net margin of 15.72% and a return on equity of 26.41%. On average, sell-side analysts expect that MINISO Group Holding Limited will post 1.23 EPS for the current fiscal year.

Institutional Trading of MINISO Group

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

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.