Hsbc Holdings PLC Increases Position in MINISO Group Holding Limited Unsponsored ADR $MNSO

Key Points

• Hsbc Holdings PLC boosted its stake in MINISO Group by 243.5% in the first quarter, ending with 298,482 shares worth about $4.84 million.
• Insider buying was notable: CEO Guofu Ye and VP Yunyun (Alice) Yang each purchased 150,000 shares at $3.35 per share, and insiders now own 73.5% of the company.
• MINISO shares fell 1.5% to $12.21, and the stock remains well below its 52-week high of $26.74 after the company recently posted earnings of $0.07 per share, missing estimates.

Hsbc Holdings PLC increased its holdings in MINISO Group Holding Limited Unsponsored ADR (NYSE:MNSO - Free Report) by 243.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 298,482 shares of the company's stock after purchasing an additional 211,587 shares during the quarter. Hsbc Holdings PLC owned 0.10% of MINISO Group worth $4,844,000 at the end of the most recent reporting period.

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

Insider Transactions at MINISO Group

In other MINISO Group news, CEO Guofu Ye bought 150,000 shares of the firm's stock in a transaction on Monday, June 1st. The shares were acquired at an average cost of $3.35 per share, with a total value of $502,500.00. Following the purchase, the chief executive officer directly owned 315,740,482 shares of the company's stock, valued at $1,057,730,614.70. This trade represents a 0.05% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Yunyun (Alice) Yang bought 150,000 shares of the stock in a transaction dated Monday, June 1st. The shares were bought at an average price of $3.35 per share, for a total transaction of $502,500.00. Following the completion of the acquisition, the vice president owned 315,740,482 shares in the company, valued at approximately $1,057,730,614.70. The trade was a 0.05% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders acquired 4,200,000 shares of company stock valued at $13,797,000. 73.50% of the stock is owned by insiders.

MINISO Group Trading Down 1.5%

Shares of MNSO stock opened at $12.21 on Friday. MINISO Group Holding Limited Unsponsored ADR has a fifty-two week low of $11.12 and a fifty-two week high of $26.74. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.14 and a current ratio of 1.53. The stock's fifty day moving average is $12.53 and its two-hundred day moving average is $15.66. The firm has a market capitalization of $3.78 billion, a P/E ratio of 12.99, a PEG ratio of 1.54 and a beta of 0.10.

MINISO Group (NYSE:MNSO - Get Free Report) last issued its earnings results on Friday, May 15th. The company reported $0.07 EPS for the quarter, missing analysts' consensus estimates of $0.24 by ($0.17). The business had revenue of $825.04 million during the quarter, compared to analyst estimates of $805.60 million. MINISO Group had a net margin of 9.03% and a return on equity of 18.98%. Research analysts expect that MINISO Group Holding Limited Unsponsored ADR will post 1.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Weiss Ratings cut shares of MINISO Group from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday, June 25th. JPMorgan Chase & Co. dropped their target price on shares of MINISO Group from $26.00 to $16.00 and set an "overweight" rating on the stock in a research report on Friday, May 29th. Wall Street Zen raised shares of MINISO Group from a "hold" rating to a "buy" rating in a research note on Saturday, May 30th. Finally, Zacks Research downgraded shares of MINISO Group from a "hold" rating to a "strong sell" rating in a research report on Monday, June 15th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $21.73.

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.

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