MINISO Group (NYSE:MNSO) Cut to Strong Sell at Zacks Research

MINISO Group (NYSE:MNSO) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Monday,Zacks.com reports.

Other analysts have also issued research reports about the company. Wall Street Zen raised MINISO Group from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. Weiss Ratings reissued a “hold (c)” rating on shares of MINISO Group in a report on Friday, March 27th. Finally, JPMorgan Chase & Co. dropped their target price on MINISO Group from $26.00 to $16.00 and set an “overweight” rating on the stock in a research report on Friday, May 29th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $21.73.

MINISO Group Stock Down 4.2%

Shares of MINISO Group stock opened at $12.33 on Monday. MINISO Group has a twelve month low of $12.29 and a twelve month high of $26.74. The company has a quick ratio of 1.14, a current ratio of 1.53 and a debt-to-equity ratio of 0.76. The company’s 50 day moving average is $14.36 and its 200 day moving average is $17.13. The company has a market cap of $3.82 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 1.59 and a beta of 0.08.

MINISO Group (NYSE:MNSO) last posted its earnings results on Friday, May 15th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.18). The company had revenue of $825.04 million during the quarter, compared to the consensus estimate of $805.60 million. MINISO Group had a return on equity of 18.98% and a net margin of 9.03%. Research analysts anticipate that MINISO Group will post 1.12 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Guofu Ye bought 150,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were bought at an average cost of $3.35 per share, with a total value of $502,500.00. Following the acquisition, the chief executive officer owned 315,740,482 shares in the company, valued at $1,057,730,614.70. This trade represents a 0.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Yunyun (Alice) Yang bought 150,000 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were bought at an average price of $3.35 per share, for a total transaction of $502,500.00. Following the completion of the transaction, the vice president directly owned 315,740,482 shares of the company’s stock, valued at $1,057,730,614.70. This represents a 0.05% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have bought 4,200,000 shares of company stock valued at $13,797,000. Insiders own 73.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd bought a new position in shares of MINISO Group in the third quarter worth about $25,000. Parallel Advisors LLC grew its stake in shares of MINISO Group by 794.7% during the 1st quarter. Parallel Advisors LLC now owns 2,192 shares of the company’s stock valued at $36,000 after acquiring an additional 1,947 shares during the period. EverSource Wealth Advisors LLC increased its holdings in MINISO Group by 37.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,223 shares of the company’s stock worth $41,000 after acquiring an additional 608 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in MINISO Group by 28.3% in the 3rd 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 MINISO Group during the 4th quarter worth approximately $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.