MINISO Group (NYSE:MNSO) Shares Gap Down – Here’s What Happened

MINISO Group Holding Limited (NYSE:MNSO)’s share price gapped down prior to trading on Friday . The stock had previously closed at $19.52, but opened at $18.75. MINISO Group shares last traded at $18.50, with a volume of 186,765 shares traded.

Analysts Set New Price Targets

MNSO has been the subject of several recent research reports. HSBC initiated coverage on MINISO Group in a research report on Wednesday, February 26th. They issued a “buy” rating and a $29.30 price objective for the company. JPMorgan Chase & Co. upgraded shares of MINISO Group from a “neutral” rating to an “overweight” rating and upped their price target for the company from $15.00 to $22.00 in a report on Tuesday. Finally, Hsbc Global Res raised shares of MINISO Group to a “strong-buy” rating in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, MINISO Group currently has a consensus rating of “Moderate Buy” and an average target price of $26.03.

MINISO Group Trading Down 4.7 %

The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.66 and a current ratio of 2.14. The firm has a market capitalization of $5.81 billion, a PE ratio of 16.78, a P/E/G ratio of 0.80 and a beta of 0.10. The stock’s 50-day simple moving average is $21.49 and its 200-day simple moving average is $20.50.

MINISO Group (NYSE:MNSO) last announced its quarterly earnings results on Friday, March 21st. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.61 by ($2.25). MINISO Group had a net margin of 15.18% and a return on equity of 26.07%. The company had revenue of $646.49 million for the quarter, compared to analysts’ expectations of $4.82 billion. As a group, sell-side analysts expect that MINISO Group Holding Limited will post 1.19 EPS for the current fiscal year.

MINISO Group Announces Dividend

The company also recently declared a — dividend, which will be paid on Wednesday, April 23rd. Investors of record on Tuesday, April 8th will be paid a $0.3268 dividend. The ex-dividend date is Tuesday, April 8th. This represents a yield of 1.4%. MINISO Group’s payout ratio is 55.08%.

Hedge Funds Weigh In On MINISO Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Citigroup Inc. increased its stake in shares of MINISO Group by 553.7% in the 3rd quarter. Citigroup Inc. now owns 390,286 shares of the company’s stock worth $6,846,000 after acquiring an additional 330,579 shares in the last quarter. FMR LLC increased its stake in shares of MINISO Group by 230.2% during the third quarter. FMR LLC now owns 4,137 shares of the company’s stock valued at $73,000 after purchasing an additional 2,884 shares in the last quarter. Erste Asset Management GmbH purchased a new position in shares of MINISO Group during the third quarter valued at approximately $685,000. Centiva Capital LP bought a new stake in shares of MINISO Group in the 3rd quarter worth approximately $255,000. Finally, Quantinno Capital Management LP purchased a new stake in shares of MINISO Group in the 3rd quarter worth approximately $191,000. Hedge funds and other institutional investors own 17.16% of the company’s stock.

MINISO Group Company Profile

MINISO Group Holding Limited, an investment holding company, engages in the retail and wholesale of lifestyle products and pop toy products in China, Asia, the United States, and Europe. The company offers products in various categories, including home decor products, small electronics, textiles, accessories, beauty tools, toys, cosmetics, personal care products, snacks, fragrances and perfumes, and stationeries and gifts under the MINISO and WonderLife brand names; and blind boxes, toy bricks, model figures, model kits, collectible dolls, Ichiban Kuji, sculptures, and other popular toys under the TOP TOY brand.