MINISO Group (NYSE:MNSO) Shares Gap Down - Here's Why

Key Points

• MINISO shares fell 5.4%, opening at $10.89 versus a previous close of $11.42, and last trading near $10.83.
• Analyst sentiment is mixed: the stock has an overall “Hold” rating and a consensus price target of $19.50, while JPMorgan lowered its target from $26 to $16 but maintained an “Overweight” rating.
• Company insiders bought 4.2 million shares worth approximately $13.8 million over the past three months, and insiders collectively own 73.5% of MINISO’s stock.

MINISO Group Holding Limited Unsponsored ADR (NYSE:MNSO - Get Free Report)'s stock price gapped down before the market opened on Thursday . The stock had previously closed at $11.42, but opened at $10.89. MINISO Group shares last traded at $10.8250, with a volume of 162,832 shares.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MNSO. Zacks Research upgraded MINISO Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 28th. Wall Street Zen upgraded MINISO Group from a "hold" rating to a "buy" rating in a research report on Saturday, May 30th. Weiss Ratings downgraded MINISO Group from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday, June 25th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of MINISO Group from $26.00 to $16.00 and set an "overweight" rating on the stock in a research note on Friday, May 29th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $19.50.

MINISO Group Trading Down 5.4%

The firm has a 50-day moving average of $11.96 and a two-hundred day moving average of $14.44. The firm has a market capitalization of $3.35 billion, a P/E ratio of 11.49, a P/E/G ratio of 1.40 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.

Insider Transactions at MINISO Group

In related news, VP Yunyun (Alice) Yang purchased 1,950,000 shares of MINISO Group stock in a transaction dated Friday, May 29th. The shares were bought at an average cost of $3.28 per share, for a total transaction of $6,396,000.00. Following the purchase, the vice president owned 315,590,482 shares in the company, valued at approximately $1,035,136,780.96. This trade represents a 0.62% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Guofu Ye purchased 1,950,000 shares of the firm's stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average cost of $3.28 per share, for a total transaction of $6,396,000.00. Following the completion of the acquisition, the chief executive officer directly owned 315,590,482 shares in the company, valued at $1,035,136,780.96. The trade was a 0.62% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 4,200,000 shares of company stock valued at $13,797,000 in the last three months. Company insiders own 73.50% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. XY Capital Ltd bought a new stake in shares of MINISO Group in the first quarter worth $2,841,000. Hsbc Holdings PLC raised its position in MINISO Group by 243.5% during the 1st quarter. Hsbc Holdings PLC now owns 298,482 shares of the company's stock worth $4,844,000 after purchasing an additional 211,587 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in MINISO Group during the 3rd quarter worth $25,000. EverSource Wealth Advisors LLC raised its position in MINISO Group by 37.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,223 shares of the company's stock worth $41,000 after purchasing an additional 608 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in MINISO Group by 794.7% during the 1st quarter. Parallel Advisors LLC now owns 2,192 shares of the company's stock worth $36,000 after buying an additional 1,947 shares during the period. 17.16% of the stock is currently 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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