MINISO Group (NYSE:MNSO) Upgraded to "Hold" at Zacks Research

Key Points

• Zacks Research upgraded MINISO Group from “strong sell” to “hold,” while the broader analyst consensus remains “Hold” with an average price target of $21.73.
• MNSO shares opened at $12.97, near their 52-week low of $11.12 and below the 200-day moving average of $15.49. The company’s latest quarterly EPS of $0.07 missed estimates, although revenue of $825.04 million exceeded expectations.
• Insiders bought 4.2 million shares worth approximately $13.8 million over the last quarter, and corporate insiders now own 73.5% of MINISO’s stock.

MINISO Group (NYSE:MNSO - Get Free Report) was upgraded by stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report released on Tuesday,Zacks.com reports.

MNSO has been the topic of several other research reports. JPMorgan Chase & Co. decreased their price target on MINISO Group from $26.00 to $16.00 and set an "overweight" rating on the stock in a report on Friday, May 29th. Weiss Ratings downgraded 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 raised shares of MINISO Group from a "hold" rating to a "buy" rating in a research note on Saturday, May 30th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, MINISO Group presently has a consensus rating of "Hold" and an average target price of $21.73.

MINISO Group Stock Performance

MNSO stock opened at $12.97 on Tuesday. The company has a 50 day moving average price of $12.45 and a 200 day moving average price of $15.49. MINISO Group 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 current ratio of 1.53 and a quick ratio of 1.14. The stock has a market capitalization of $4.02 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 1.55 and a beta of 0.10.

MINISO Group (NYSE:MNSO - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $805.60 million. MINISO Group had a net margin of 9.03% and a return on equity of 18.98%. Analysts forecast that MINISO Group will post 1.12 EPS for the current year.

Insider Buying and Selling

In other news, VP Yunyun (Alice) Yang bought 150,000 shares of the stock in a transaction on Monday, June 1st. The stock was purchased at an average price of $3.35 per share, with a total value of $502,500.00. Following the completion of the purchase, the vice president owned 315,740,482 shares of the company's stock, valued at approximately $1,057,730,614.70. This trade represents a 0.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Guofu Ye bought 150,000 shares of the business's stock in a transaction on Monday, June 1st. The stock was purchased 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 of the company's stock, 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. Insiders purchased a total of 4,200,000 shares of company stock worth $13,797,000 over the last quarter. 73.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MINISO Group

Several institutional investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd bought a new stake in MINISO Group during the 3rd quarter worth approximately $25,000. Parallel Advisors LLC lifted its stake in MINISO Group by 794.7% in the first 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 in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of MINISO Group by 37.6% in the second 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 period. PNC Financial Services Group Inc. increased its position 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 worth $56,000 after acquiring an additional 547 shares in the last quarter. Finally, Atlas Capital Advisors Inc. bought a new stake in shares of MINISO Group during the fourth quarter worth $126,000. Institutional investors own 17.16% of the company's stock.

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.