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

MINISO Group Holding Limited Unsponsored ADR (NYSE:MNSO)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $11.53, but opened at $12.41. MINISO Group shares last traded at $12.7240, with a volume of 195,155 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Wall Street Zen raised shares of MINISO Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Zacks Research downgraded shares of MINISO Group from a “hold” rating to a “strong sell” rating in a report on Monday, June 15th. Weiss Ratings cut MINISO Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, June 25th. Finally, JPMorgan Chase & Co. cut their price objective on MINISO Group from $26.00 to $16.00 and set an “overweight” rating on the stock in a report on Friday, May 29th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $21.73.

MINISO Group Trading Up 2.9%

The company has a market capitalization of $4.02 billion, a P/E ratio of 13.81, a price-to-earnings-growth ratio of 1.56 and a beta of 0.10. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.53 and a quick ratio of 1.14. The firm has a fifty day moving average price of $12.76 and a 200-day moving average price of $15.91.

MINISO Group (NYSE:MNSO) last released its earnings results on Friday, May 15th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.17). The firm 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%. On average, equities research analysts anticipate that MINISO Group Holding Limited Unsponsored ADR will post 1.12 earnings per share for the current year.

Insider Activity at MINISO Group

In other news, VP Yunyun (Alice) Yang bought 150,000 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were purchased at an average price of $3.35 per share, for a total transaction of $502,500.00. Following the completion of the acquisition, the vice president owned 315,740,482 shares of the company’s stock, valued at approximately $1,057,730,614.70. This trade represents a 0.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Guofu Ye acquired 150,000 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was purchased at an average price of $3.35 per share, for a total transaction of $502,500.00. Following the transaction, the chief executive officer directly owned 315,740,482 shares of the company’s stock, valued at approximately $1,057,730,614.70. This trade represents a 0.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders acquired 4,200,000 shares of company stock valued at $13,797,000. 73.50% of the stock is owned by insiders.

Institutional Trading of MINISO Group

Several large investors have recently bought and sold shares of the company. Serenity Capital Management PTE. LTD. lifted its holdings in shares of MINISO Group by 74.9% during the fourth quarter. Serenity Capital Management PTE. LTD. now owns 2,024,455 shares of the company’s stock valued at $37,959,000 after purchasing an additional 866,793 shares during the last quarter. Marshall Wace LLP increased its position in MINISO Group by 15.8% during the 4th quarter. Marshall Wace LLP now owns 1,981,202 shares of the company’s stock valued at $37,148,000 after buying an additional 270,765 shares in the last quarter. Orbis Allan Gray Ltd increased its holdings in shares of MINISO Group by 0.7% during the fourth quarter. Orbis Allan Gray Ltd now owns 1,792,873 shares of the company’s stock valued at $33,616,000 after acquiring an additional 12,468 shares in the last quarter. Millennium Management LLC increased its stake in MINISO Group by 38.3% during the 4th quarter. Millennium Management LLC now owns 1,344,121 shares of the company’s stock valued at $25,202,000 after purchasing an additional 372,237 shares in the last quarter. Finally, Crossmark Global Holdings Inc. raised its holdings in MINISO Group by 1.9% in the fourth quarter. Crossmark Global Holdings Inc. now owns 673,402 shares of the company’s stock worth $12,626,000 after buying an additional 12,315 shares during the last quarter. 17.16% of the stock is owned by institutional investors.

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.