MINISO Group (NYSE:MNSO) Hits New 12-Month Low - Here's What Happened

Key Points

• MINISO shares fell 7.4% to a new 52-week low, trading as low as $10.99 and closing well below their 50-day and 200-day moving averages.
• Analyst sentiment is mixed: the stock has an average “Hold” rating and a $21.73 price target, while JPMorgan cut its target from $26 to $16 and Weiss Ratings downgraded the shares to “Sell.”
• The company missed quarterly EPS expectations, reporting $0.07 versus the $0.24 consensus, despite revenue of $825.04 million exceeding estimates; meanwhile, insiders purchased 4.2 million shares during the quarter.

MINISO Group Holding Limited Unsponsored ADR (NYSE:MNSO - Get Free Report) shares hit a new 52-week low on Monday . The stock traded as low as $10.99 and last traded at $10.9780, with a volume of 193454 shares trading hands. The stock had previously closed at $11.80.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Zacks Research raised MINISO Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 28th. JPMorgan Chase & Co. dropped their price objective on shares of MINISO Group from $26.00 to $16.00 and set an "overweight" rating for the company in a research note on Friday, May 29th. 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. Finally, Wall Street Zen upgraded shares of MINISO Group from a "hold" rating to a "buy" rating in a report on Saturday, May 30th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, MINISO Group presently has an average rating of "Hold" and an average price target of $21.73.

MINISO Group Stock Down 7.4%

The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of 11.66, a price-to-earnings-growth ratio of 1.46 and a beta of 0.11. The company has a current ratio of 1.53, a quick ratio of 1.14 and a debt-to-equity ratio of 0.76. The firm has a 50 day moving average price of $12.26 and a two-hundred day moving average price of $14.87.

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

Insider Buying and Selling at MINISO Group

In related news, VP Yunyun (Alice) Yang acquired 150,000 shares of MINISO Group stock in a transaction on 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 purchase, the vice president directly owned 315,740,482 shares in the company, valued at $1,057,730,614.70. This trade represents a 0.05% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Guofu Ye bought 150,000 shares of the company's stock in a transaction that occurred on 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 chief executive officer owned 315,740,482 shares in the company, valued at approximately $1,057,730,614.70. This trade represents a 0.05% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders purchased 4,200,000 shares of company stock valued at $13,797,000. 73.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MNSO. Caitong International Asset Management Co. Ltd purchased a new stake in MINISO Group during the 3rd quarter worth $25,000. Parallel Advisors LLC boosted its position in MINISO Group by 794.7% in the 1st quarter. Parallel Advisors LLC now owns 2,192 shares of the company's stock valued at $36,000 after buying an additional 1,947 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position 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 buying an additional 608 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of MINISO Group by 28.3% during the third quarter. PNC Financial Services Group Inc. now owns 2,480 shares of the company's stock valued at $56,000 after acquiring an additional 547 shares in the last quarter. Finally, Atlas Capital Advisors Inc. purchased a new stake in shares of MINISO Group during the fourth quarter worth about $126,000. 17.16% of the stock is owned by institutional investors and hedge funds.

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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