Victory Capital Management Inc. Cuts Holdings in MINISO Group Holding Limited Unsponsored ADR (NYSE:MNSO)

Key Points

• Victory Capital Management Inc. significantly decreased its stake in MINISO Group Holding Limited by 94.5%, selling over 203,000 shares and now holding only 11,791 shares.
• Analysts maintain a "hold" rating for MINISO Group, with a consensus target price of $24.53, despite the stock's current price of $18.55.
• MINISO Group's recent quarterly earnings report revealed an EPS of $0.19, falling short of expectations, with revenues of $609.87 million against forecasts of $4.35 billion.

Victory Capital Management Inc. lessened its holdings in shares of MINISO Group Holding Limited Unsponsored ADR (NYSE:MNSO - Free Report) by 94.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,791 shares of the company's stock after selling 203,212 shares during the quarter. Victory Capital Management Inc.'s holdings in MINISO Group were worth $218,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. Northern Trust Corp lifted its position in shares of MINISO Group by 3.3% during the fourth quarter. Northern Trust Corp now owns 24,232 shares of the company's stock worth $579,000 after purchasing an additional 784 shares during the last quarter. Barclays PLC purchased a new position in shares of MINISO Group in the 4th quarter valued at approximately $36,000. Quantinno Capital Management LP grew its stake in MINISO Group by 47.5% during the 4th quarter. Quantinno Capital Management LP now owns 16,067 shares of the company's stock valued at $384,000 after purchasing an additional 5,172 shares during the last quarter. Vident Advisory LLC raised its holdings in shares of MINISO Group by 34.4% during the fourth quarter. Vident Advisory LLC now owns 21,559 shares of the company's stock worth $515,000 after purchasing an additional 5,523 shares during the last quarter. Finally, Orion Portfolio Solutions LLC purchased a new stake in shares of MINISO Group in the fourth quarter worth about $202,000. Hedge funds and other institutional investors own 17.16% of the company's stock.

MINISO Group Price Performance

NYSE MNSO traded up $0.78 during trading hours on Monday, hitting $19.34. 521,255 shares of the company's stock traded hands, compared to its average volume of 686,306. MINISO Group Holding Limited Unsponsored ADR has a 52-week low of $12.51 and a 52-week high of $27.71. The company has a market capitalization of $6.05 billion, a PE ratio of 17.42, a PEG ratio of 1.09 and a beta of 0.16. The firm's 50-day moving average is $18.10 and its 200-day moving average is $19.18. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.99 and a quick ratio of 1.54.

MINISO Group (NYSE:MNSO - Get Free Report) last posted its quarterly earnings results on Friday, May 23rd. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $2.04 by ($1.85). MINISO Group had a net margin of 13.85% and a return on equity of 24.23%. The firm had revenue of $609.87 million during the quarter, compared to analysts' expectations of $4.35 billion. Equities analysts forecast that MINISO Group Holding Limited Unsponsored ADR will post 1.19 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $20.00 target price on shares of MINISO Group in a research report on Tuesday, May 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $24.53.

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.