MINISO Group (NYSE:MNSO) Shares Gap Up – Still a Buy?

MINISO Group Holding Limited (NYSE:MNSO)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $23.34, but opened at $23.94. MINISO Group shares last traded at $23.80, with a volume of 164,212 shares changing hands.

Analyst Ratings Changes

Several research firms have recently issued reports on MNSO. Dbs Bank raised shares of MINISO Group to a “strong-buy” rating in a research report on Tuesday, September 24th. Bank of America lowered shares of MINISO Group from a “buy” rating to an “underperform” rating in a research note on Monday, September 23rd. Jefferies Financial Group restated a “hold” rating on shares of MINISO Group in a research report on Monday, September 23rd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $15.00 price objective (down previously from $27.00) on shares of MINISO Group in a report on Tuesday, September 24th. Finally, Citigroup assumed coverage on MINISO Group in a research note on Friday, October 4th. They set a “buy” rating and a $26.80 price target on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, MINISO Group presently has an average rating of “Hold” and a consensus price target of $20.90.

MINISO Group Stock Performance

The stock has a fifty day moving average of $19.84 and a 200-day moving average of $18.31. The company has a quick ratio of 1.66, a current ratio of 2.14 and a debt-to-equity ratio of 0.17. The stock has a market cap of $7.51 billion, a PE ratio of 21.50, a price-to-earnings-growth ratio of 1.05 and a beta of 0.14.

Institutional Investors Weigh In On MINISO Group

Large investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its stake in MINISO Group by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 66,540 shares of the company’s stock valued at $1,167,000 after buying an additional 1,027 shares during the period. ABS Direct Equity Fund LLC boosted its stake in shares of MINISO Group by 5.1% in the third quarter. ABS Direct Equity Fund LLC now owns 92,941 shares of the company’s stock valued at $1,630,000 after buying an additional 4,500 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in MINISO Group during the third quarter worth $622,000. XTX Topco Ltd raised its position in MINISO Group by 96.7% in the third quarter. XTX Topco Ltd now owns 27,259 shares of the company’s stock worth $478,000 after acquiring an additional 13,398 shares in the last quarter. Finally, Quantinno Capital Management LP acquired a new stake in MINISO Group in the third quarter valued at $191,000. Hedge funds and other institutional investors own 17.16% of the company’s stock.

About MINISO Group

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.