MINISO Group Holding Limited Unsponsored ADR (NYSE:MNSO) Given Consensus Rating of "Hold" by Brokerages

Key Points

• MINISO has a consensus “Hold” rating from six analysts, with three buys, two holds and one sell; the average 12-month price target is $21.73.
• Company insiders purchased 4.2 million shares worth approximately $13.8 million over the past quarter, and insiders collectively own 73.5% of the stock. Institutional ownership stands at 17.16%.
• The stock opened at $12.31, near its 12-month low of $11.12 and well below its high of $26.74. MINISO’s latest quarterly EPS of $0.07 missed estimates of $0.24, although revenue of $825.04 million exceeded expectations.

Shares of MINISO Group Holding Limited Unsponsored ADR (NYSE:MNSO - Get Free Report) have received an average recommendation of "Hold" from the six ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $21.7333.

MNSO has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of MINISO Group from a "hold" rating to a "buy" rating in a research report on Saturday, May 30th. JPMorgan Chase & Co. cut their price target on MINISO Group from $26.00 to $16.00 and set an "overweight" rating for the company in a report on Friday, May 29th. Zacks Research raised MINISO Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 28th. Finally, Weiss Ratings cut MINISO Group from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, June 25th.

Insider Activity

In other MINISO Group news, CEO Guofu Ye purchased 1,950,000 shares of the firm's stock in a transaction on Friday, May 29th. The shares were purchased at an average cost of $3.28 per share, with a total value of $6,396,000.00. Following the purchase, the chief executive officer owned 315,590,482 shares in the company, valued at approximately $1,035,136,780.96. This represents a 0.62% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Yunyun (Alice) Yang purchased 1,950,000 shares of the stock in a transaction on Friday, May 29th. The stock was acquired at an average price of $3.28 per share, with a total value of $6,396,000.00. Following the acquisition, the vice president directly owned 315,590,482 shares in the company, valued at $1,035,136,780.96. This trade represents a 0.62% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 4,200,000 shares of company stock worth $13,797,000 over the last quarter. 73.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MINISO Group

A number of institutional investors have recently bought and sold shares of MNSO. Parallel Advisors LLC increased its position in MINISO Group by 794.7% during the first quarter. Parallel Advisors LLC now owns 2,192 shares of the company's stock worth $36,000 after purchasing an additional 1,947 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of MINISO Group during the 1st quarter valued at $478,000. XY Capital Ltd acquired a new stake in shares of MINISO Group during the 1st quarter worth $2,841,000. PNC Financial Services Group Inc. increased its holdings in shares of MINISO Group by 34.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,842 shares of the company's stock worth $78,000 after buying an additional 1,251 shares during the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of MINISO Group by 243.5% in the 1st quarter. Hsbc Holdings PLC now owns 298,482 shares of the company's stock worth $4,844,000 after buying an additional 211,587 shares during the period. 17.16% of the stock is currently owned by hedge funds and other institutional investors.

MINISO Group Price Performance

NYSE:MNSO opened at $12.31 on Thursday. MINISO Group has a 12-month low of $11.12 and a 12-month high of $26.74. The firm has a market cap of $3.81 billion, a price-to-earnings ratio of 13.10, a price-to-earnings-growth ratio of 1.54 and a beta of 0.11. The company's 50-day moving average is $12.39 and its two-hundred day moving average is $15.24. The company has a current ratio of 1.53, a quick ratio of 1.14 and a debt-to-equity ratio of 0.76.

MINISO Group (NYSE:MNSO - Get Free Report) last issued its quarterly 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 firm had revenue of $825.04 million for the quarter, compared to analysts' expectations of $805.60 million. MINISO Group had a return on equity of 18.98% and a net margin of 9.03%. Research analysts expect that MINISO Group will post 1.12 EPS for the current year.

MINISO Group Company Profile

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source