MINISO Group (NYSE:MNSO) Downgraded by Zacks Research to “Strong Sell”

Zacks Research lowered shares of MINISO Group (NYSE:MNSO) from a hold rating to a strong sell rating in a report released on Wednesday morning,Zacks.com reports.

Several other research firms have also issued reports on MNSO. Weiss Ratings reiterated a “hold (c)” rating on shares of MINISO Group in a research note on Monday, December 29th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of MINISO Group in a report on Tuesday, November 25th. They set a “buy” rating and a $23.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, MINISO Group presently has a consensus rating of “Moderate Buy” and an average price target of $25.13.

MINISO Group Stock Up 1.3%

MNSO stock opened at $19.70 on Wednesday. The firm has a market capitalization of $6.09 billion, a PE ratio of 20.30, a P/E/G ratio of 1.37 and a beta of 0.09. The company has a quick ratio of 1.26, a current ratio of 1.65 and a debt-to-equity ratio of 0.73. MINISO Group has a twelve month low of $13.94 and a twelve month high of $26.74. The stock’s 50 day moving average is $20.04 and its 200-day moving average is $20.85.

Hedge Funds Weigh In On MINISO Group

Several institutional investors have recently added to or reduced their stakes in MNSO. Marshall Wace LLP raised its position in MINISO Group by 131.1% in the second quarter. Marshall Wace LLP now owns 1,776,960 shares of the company’s stock worth $32,376,000 after acquiring an additional 1,008,048 shares during the period. WFM ASIA BVI Ltd purchased a new stake in shares of MINISO Group during the 3rd quarter worth approximately $35,624,000. Serenity Capital Management PTE. LTD. raised its holdings in shares of MINISO Group by 149.8% in the 2nd quarter. Serenity Capital Management PTE. LTD. now owns 1,157,662 shares of the company’s stock worth $21,093,000 after purchasing an additional 694,212 shares during the period. HCEP Management Ltd lifted its stake in MINISO Group by 2.4% in the third quarter. HCEP Management Ltd now owns 998,251 shares of the company’s stock valued at $22,461,000 after purchasing an additional 23,300 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in MINISO Group by 167.5% in the third quarter. Millennium Management LLC now owns 971,884 shares of the company’s stock valued at $21,867,000 after purchasing an additional 608,544 shares during the last quarter. Institutional investors own 17.16% of the company’s stock.

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.