MINISO Group (NYSE:MNSO) Sets New 12-Month Low – Here’s What Happened

Shares of MINISO Group Holding Limited Unsponsored ADR (NYSE:MNSO) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $11.56 and last traded at $11.6450, with a volume of 63637 shares trading hands. The stock had previously closed at $11.94.

Wall Street Analyst Weigh In

MNSO has been the subject of a number of analyst reports. Wall Street Zen raised MINISO Group from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. Zacks Research lowered MINISO Group from a “hold” rating to a “strong sell” rating in a research note on Monday, June 15th. JPMorgan Chase & Co. dropped their price objective on MINISO Group from $26.00 to $16.00 and set an “overweight” rating for the company in a research report on Friday, May 29th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of MINISO Group in a research note on Friday, March 27th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $21.73.

MINISO Group Trading Down 1.8%

The firm has a fifty day moving average of $14.10 and a 200 day moving average of $16.97. The firm has a market capitalization of $3.63 billion, a PE ratio of 12.47, a P/E/G ratio of 1.48 and a beta of 0.08. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.14 and a current ratio of 1.53.

MINISO Group (NYSE:MNSO) last released its quarterly earnings results on Friday, May 15th. The company reported $0.06 earnings per share 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 analysts’ expectations of $805.60 million. MINISO Group had a return on equity of 18.98% and a net margin of 9.03%. Equities research analysts expect that MINISO Group Holding Limited Unsponsored ADR will post 1.12 EPS for the current year.

MINISO Group Dividend Announcement

The company also recently announced a dividend, which was paid on Monday, May 4th. Stockholders of record on Monday, April 20th were paid a $0.3764 dividend. The ex-dividend date was Monday, April 20th. This represents a dividend yield of 479.0%. MINISO Group’s dividend payout ratio is 77.66%.

Insiders Place Their Bets

In other MINISO Group news, CEO Guofu Ye purchased 150,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were acquired at an average price of $3.35 per share, for a total transaction of $502,500.00. Following the completion of the purchase, the chief executive officer owned 315,740,482 shares in the company, valued at $1,057,730,614.70. The trade was a 0.05% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Yunyun (Alice) Yang acquired 150,000 shares of the stock in a transaction on Monday, June 1st. The shares were acquired at an average price of $3.35 per share, with a total value of $502,500.00. Following the purchase, the vice president owned 315,740,482 shares in the company, valued at $1,057,730,614.70. This represents a 0.05% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have purchased 4,200,000 shares of company stock valued at $13,797,000. Company insiders own 73.50% of the company’s stock.

Hedge Funds Weigh In On MINISO Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Long Corridor Asset Management Ltd acquired a new position in MINISO Group in the third quarter worth about $2,368,000. Fox Run Management L.L.C. acquired a new stake in MINISO Group during the third quarter valued at approximately $1,275,000. WFM ASIA BVI Ltd acquired a new stake in MINISO Group during the third quarter valued at approximately $35,624,000. Keystone Investors PTE Ltd. lifted its holdings in MINISO Group by 32.2% during the 3rd quarter. Keystone Investors PTE Ltd. now owns 192,100 shares of the company’s stock worth $4,322,000 after buying an additional 46,800 shares during the last quarter. Finally, DNB Asset Management AS bought a new position in MINISO Group during the 3rd quarter worth approximately $258,000. 17.16% of the stock is currently owned by hedge funds and other institutional investors.

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.