MINISO Group (NYSE:MNSO) Shares Gap Up - Here's What Happened

Key Points

• MINISO shares jumped 5.5%, opening at $9.47 versus a prior close of $9.07 and later trading around $9.56 on volume of 275,858 shares.
• Analyst sentiment remains mixed: the stock has an average “Hold” rating and a consensus price target of $15.27, with ratings ranging from Strong Buy to Sell.
• MINISO reported quarterly EPS of $0.26 on $855.25 million in revenue; institutional investors own 17.16% of the company, while several funds recently increased or initiated positions.

MINISO Group Holding Limited Unsponsored ADR (NYSE:MNSO - Get Free Report)'s stock price gapped up prior to trading on Friday. The stock had previously closed at $9.07, but opened at $9.47. MINISO Group shares last traded at $9.5550, with a volume of 275,858 shares traded.

Analyst Upgrades and Downgrades

MNSO has been the topic of several research reports. China Intl Cap upgraded MINISO Group to a "strong-buy" rating in a research note on Monday, August 31st. Wall Street Zen raised MINISO Group from a "sell" rating to a "hold" rating in a research report on Saturday, September 26th. Citigroup cut MINISO Group from a "buy" rating to a "neutral" rating and set a $11.30 price objective on the stock. in a research note on Monday, August 31st. HSBC reaffirmed a "hold" rating and issued a $10.80 price objective on shares of MINISO Group in a report on Monday, August 31st. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of MINISO Group in a report on Tuesday, September 22nd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, MINISO Group presently has an average rating of "Hold" and a consensus price target of $15.27.

MINISO Group Trading Up 5.5%

The firm has a market cap of $2.90 billion, a P/E ratio of 16.49 and a beta of 0.16. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.18 and a current ratio of 1.57. The firm has a fifty day moving average of $10.19 and a 200-day moving average of $12.50.

MINISO Group (NYSE:MNSO - Get Free Report) last issued its quarterly earnings data on Friday, August 14th. The company reported $0.26 EPS for the quarter. MINISO Group had a return on equity of 19.41% and a net margin of 5.32%.The firm had revenue of $855.25 million during the quarter. Equities research analysts forecast that MINISO Group Holding Limited Unsponsored ADR will post 1.12 earnings per share for the current year.

Hedge Funds Weigh In On MINISO Group

Several institutional investors have recently modified their holdings of MNSO. PNC Financial Services Group Inc. boosted its stake in MINISO Group by 34.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,842 shares of the company's stock valued at $78,000 after purchasing an additional 1,251 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of 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 during the period. Allworth Financial LP lifted its holdings in shares of MINISO Group by 5,641.7% in the second quarter. Allworth Financial LP now owns 2,067 shares of the company's stock valued at $25,000 after buying an additional 2,031 shares during the period. WINTON GROUP Ltd bought a new position in MINISO Group during the second quarter valued at about $140,000. Finally, Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in MINISO Group in the fourth quarter worth about $243,000. Institutional investors own 17.16% of the company's stock.

MINISO Group Company Profile

MINISO Group Holding Limited is a global value retailer that operates the MINISO brand of lifestyle product stores. The company offers a broad range of merchandise, including household goods, personal care products, beauty accessories, electronics, toys, stationery, food and beverages, fashion accessories, and seasonal products. Its retail model emphasizes affordable prices, frequent product updates, and collaborations with popular intellectual property brands.

Founded in 2013, MINISO has expanded from its origins in China into an international retail business.

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