Bank of America Corp DE Trims Stock Position in MINISO Group Holding Limited Unsponsored ADR $MNSO

Key Points

• Bank of America cut its MINISO stake by 77.5% in the first quarter, selling 130,755 shares and retaining 37,879 shares valued at approximately $614,000.
• MINISO shares opened at $9.56, near their 52-week low of $9.21 and well below the 52-week high of $25.92; the stock’s 50-day and 200-day moving averages were $11.67 and $13.91, respectively.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $15.27, while the company reported quarterly EPS of $0.26 and revenue of $855.25 million.

Bank of America Corp DE decreased its stake in MINISO Group Holding Limited Unsponsored ADR (NYSE:MNSO - Free Report) by 77.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,879 shares of the company's stock after selling 130,755 shares during the period. Bank of America Corp DE's holdings in MINISO Group were worth $614,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Royal Bank of Canada grew its position in MINISO Group by 66.4% during the 1st quarter. Royal Bank of Canada now owns 26,928 shares of the company's stock worth $498,000 after purchasing an additional 10,747 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of MINISO Group by 1.6% in the first quarter. Goldman Sachs Group Inc. now owns 315,424 shares of the company's stock valued at $5,832,000 after buying an additional 5,086 shares during the last quarter. Creative Planning raised its holdings in shares of MINISO Group by 45.1% in the second quarter. Creative Planning now owns 16,662 shares of the company's stock valued at $304,000 after buying an additional 5,177 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of MINISO Group by 0.4% during the second quarter. American Century Companies Inc. now owns 133,224 shares of the company's stock worth $2,427,000 after buying an additional 595 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of MINISO Group by 37.6% during the second quarter. EverSource Wealth Advisors LLC now owns 2,223 shares of the company's stock worth $41,000 after buying an additional 608 shares during the last quarter. 17.16% of the stock is owned by hedge funds and other institutional investors.

MINISO Group Stock Performance

Shares of MNSO opened at $9.56 on Tuesday. The company has a 50-day simple moving average of $11.67 and a 200-day simple moving average of $13.91. The company has a quick ratio of 1.18, a current ratio of 1.57 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $2.96 billion, a PE ratio of 16.48 and a beta of 0.10. MINISO Group Holding Limited Unsponsored ADR has a 52-week low of $9.21 and a 52-week high of $25.92.

MINISO Group (NYSE:MNSO - Get Free Report) last announced its quarterly earnings results on Friday, August 14th. The company reported $0.26 EPS for the quarter. The business had revenue of $855.25 million for the quarter. MINISO Group had a return on equity of 19.41% and a net margin of 5.32%. Equities research analysts predict that MINISO Group Holding Limited Unsponsored ADR will post 1.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Citigroup cut MINISO Group from a "buy" rating to a "neutral" rating and set a $11.30 price target on the stock. in a research report on Monday, August 31st. China Intl Cap raised MINISO Group to a "strong-buy" rating in a research report on Monday, August 31st. Wall Street Zen downgraded MINISO Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 29th. Zacks Research upgraded shares of MINISO Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 28th. Finally, HSBC reissued a "hold" rating and issued a $10.80 price objective on shares of MINISO Group in a research note on Monday, August 31st. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, MINISO Group currently has an average rating of "Hold" and a consensus price target of $15.27.

About MINISO Group

MINISO Group NYSE: MNSO is a global retailer specializing in lifestyle and consumer goods. Since its founding in 2013, the company has focused on offering affordable, design-driven products across a broad range of categories. MINISO's stores feature a clean, minimalist layout and emphasize a “fast fashion” inventory model designed to turn over goods quickly and respond to emerging trends.

The company's product mix spans household items, kitchenware, cosmetics and personal care, stationery, toys, digital accessories, apparel and seasonal items.

Want to see what other hedge funds are holding MNSO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MINISO Group Holding Limited Unsponsored ADR (NYSE:MNSO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.