MINISO Group (NYSE:MNSO) Shares Gap Down – Should You Sell?

MINISO Group Holding Limited (NYSE:MNSO) gapped down before the market opened on Wednesday . The stock had previously closed at $18.92, but opened at $17.24. MINISO Group shares last traded at $17.72, with a volume of 967,787 shares trading hands.

Analysts Set New Price Targets

A number of brokerages have issued reports on MNSO. Citigroup initiated coverage on MINISO Group in a research report on Friday, October 4th. They issued a “buy” rating and a $26.80 target price on the stock. Bank of America cut shares of MINISO Group from a “buy” rating to an “underperform” rating in a report on Monday, September 23rd. Dbs Bank raised shares of MINISO Group to a “strong-buy” rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $15.00 price target (down previously from $27.00) on shares of MINISO Group in a research report on Tuesday, September 24th. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of MINISO Group in a research note on Monday, September 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, MINISO Group has an average rating of “Hold” and an average target price of $20.90.

MINISO Group Stock Down 5.7 %

The stock has a market cap of $5.64 billion, a P/E ratio of 16.13, a PEG ratio of 0.56 and a beta of 0.18. The stock’s fifty day simple moving average is $16.18 and its 200-day simple moving average is $19.28. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.38 and a quick ratio of 1.93.

MINISO Group (NYSE:MNSO) last released its quarterly earnings data on Friday, August 30th. The company reported $0.26 earnings per share (EPS) for the quarter. MINISO Group had a return on equity of 26.41% and a net margin of 15.72%. The business had revenue of $555.26 million during the quarter, compared to analyst estimates of $557.54 million. On average, research analysts anticipate that MINISO Group Holding Limited will post 1.23 earnings per share for the current year.

MINISO Group Dividend Announcement

The company also recently disclosed a Semi-Annual dividend, which was paid on Thursday, September 26th. Investors of record on Friday, September 13th were issued a $0.274 dividend. The ex-dividend date was Friday, September 13th. This represents a dividend yield of 1.6%. MINISO Group’s dividend payout ratio (DPR) is presently 49.06%.

Hedge Funds Weigh In On MINISO Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. bought a new stake in MINISO Group during the 2nd quarter valued at $26,000. Blue Trust Inc. raised its stake in shares of MINISO Group by 3,098.4% during the second quarter. Blue Trust Inc. now owns 1,951 shares of the company’s stock valued at $40,000 after purchasing an additional 1,890 shares in the last quarter. Headlands Technologies LLC acquired a new stake in MINISO Group in the first quarter worth about $93,000. Banque Cantonale Vaudoise bought a new position in MINISO Group in the 2nd quarter valued at about $118,000. Finally, Bayesian Capital Management LP acquired a new position in MINISO Group during the 1st quarter valued at about $201,000. 17.16% of the stock is currently owned by institutional investors and hedge funds.

MINISO Group Company Profile

MINISO Group Holding Limited, an investment holding company, engages in the retail and wholesale of lifestyle products and pop toy products in China, Asia, the United States, and Europe. The company offers products in various categories, including home decor products, small electronics, textiles, accessories, beauty tools, toys, cosmetics, personal care products, snacks, fragrances and perfumes, and stationeries and gifts under the MINISO and WonderLife brand names; and blind boxes, toy bricks, model figures, model kits, collectible dolls, Ichiban Kuji, sculptures, and other popular toys under the TOP TOY brand.