Persistent Asset Partners Ltd Invests $948,000 in MINISO Group Holding Limited Unsponsored ADR $MNSO

Persistent Asset Partners Ltd purchased a new stake in MINISO Group Holding Limited Unsponsored ADR (NYSE:MNSO) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 42,151 shares of the company’s stock, valued at approximately $948,000.

Several other hedge funds have also recently bought and sold shares of MNSO. Royal Bank of Canada boosted its stake in shares of MINISO Group by 66.4% in the 1st quarter. Royal Bank of Canada now owns 26,928 shares of the company’s stock valued at $498,000 after purchasing an additional 10,747 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in MINISO Group by 1.6% during the first quarter. Goldman Sachs Group Inc. now owns 315,424 shares of the company’s stock worth $5,832,000 after buying an additional 5,086 shares during the last quarter. Envestnet Asset Management Inc. acquired a new stake in shares of MINISO Group during the second quarter worth approximately $326,000. Hantz Financial Services Inc. raised its stake in shares of MINISO Group by 3,465.0% in the second quarter. Hantz Financial Services Inc. now owns 2,139 shares of the company’s stock valued at $39,000 after acquiring an additional 2,079 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in MINISO Group by 141.0% in the second quarter. PNC Financial Services Group Inc. now owns 1,933 shares of the company’s stock valued at $35,000 after acquiring an additional 1,131 shares during the last quarter. 17.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MNSO shares. Weiss Ratings reissued a “hold (c)” rating on shares of MINISO Group in a research note on Monday, December 29th. Zacks Research raised MINISO Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 5th. Finally, Deutsche Bank Aktiengesellschaft started coverage on MINISO Group in a research report on Tuesday, November 25th. They set a “buy” rating and a $23.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, MINISO Group presently has an average rating of “Moderate Buy” and a consensus target price of $25.13.

MINISO Group Trading Up 0.4%

Shares of NYSE:MNSO opened at $19.68 on Friday. The firm has a market cap of $6.09 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 1.38 and a beta of 0.13. 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 Holding Limited Unsponsored ADR has a 12 month low of $13.94 and a 12 month high of $26.74. The company’s fifty day simple moving average is $19.39 and its 200 day simple moving average is $21.07.

MINISO Group 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.