MINISO Group (NYSE:MNSO) Sets New 1-Year Low After Earnings Miss

MINISO Group Holding Limited Unsponsored ADR (NYSE:MNSO) reached a new 52-week low during trading on Friday following a dissappointing earnings announcement. The company traded as low as $10.37 and last traded at $10.37, with a volume of 255146 shares traded. The stock had previously closed at $10.81.

The company reported $0.26 EPS for the quarter. MINISO Group had a return on equity of 18.98% and a net margin of 9.03%.The firm had revenue of $855.25 million during the quarter.

Analysts Set New Price Targets

A number of research firms have recently commented on MNSO. JPMorgan Chase & Co. reduced their price target on shares of MINISO Group from $26.00 to $16.00 and set an “overweight” rating for the company in a research report on Friday, May 29th. Weiss Ratings lowered shares of MINISO Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, June 25th. Zacks Research upgraded MINISO Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Finally, Wall Street Zen raised shares of MINISO Group from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $19.50.

Insider Activity

In other news, VP Yunyun (Alice) Yang acquired 150,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were acquired at an average cost of $3.35 per share, with a total value of $502,500.00. Following the transaction, the vice president 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 acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Guofu Ye bought 150,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was purchased at an average cost of $3.35 per share, with a total value of $502,500.00. Following the transaction, the chief executive officer directly owned 315,740,482 shares in the company, valued at approximately $1,057,730,614.70. This represents a 0.05% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 73.50% of the company’s stock.

Hedge Funds Weigh In On MINISO Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of MINISO Group during the 3rd quarter valued at $25,000. Parallel Advisors LLC boosted its stake in MINISO Group by 794.7% during the first quarter. Parallel Advisors LLC now owns 2,192 shares of the company’s stock worth $36,000 after acquiring an additional 1,947 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in MINISO Group by 37.6% in the second quarter. EverSource Wealth Advisors LLC now owns 2,223 shares of the company’s stock worth $41,000 after purchasing an additional 608 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of MINISO Group by 28.3% during the third quarter. PNC Financial Services Group Inc. now owns 2,480 shares of the company’s stock valued at $56,000 after purchasing an additional 547 shares in the last quarter. Finally, Atlas Capital Advisors Inc. purchased a new position in shares of MINISO Group during the fourth quarter valued at approximately $126,000. Hedge funds and other institutional investors own 17.16% of the company’s stock.

MINISO Group Price Performance

The company has a current ratio of 1.53, a quick ratio of 1.14 and a debt-to-equity ratio of 0.76. The company has a market cap of $3.21 billion, a PE ratio of 11.03, a P/E/G ratio of 1.42 and a beta of 0.11. The firm has a 50 day moving average of $11.94 and a two-hundred day moving average of $14.39.

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.