MINISO Group (NYSE:MNSO) Raised to Hold at Zacks Research

MINISO Group (NYSE:MNSO) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other research firms have also weighed in on MNSO. Weiss Ratings restated a “hold (c)” rating on shares of MINISO Group in a report on Monday, December 29th. Deutsche Bank Aktiengesellschaft began coverage on MINISO Group in a research note on Tuesday, November 25th. They set a “buy” rating and a $23.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $25.13.

MINISO Group Trading Down 0.6%

NYSE:MNSO opened at $18.92 on Thursday. The firm has a 50-day simple moving average of $19.44 and a 200-day simple moving average of $21.04. MINISO Group has a one year low of $13.94 and a one year high of $26.74. The firm has a market cap of $5.85 billion, a P/E ratio of 19.51, a P/E/G ratio of 1.34 and a beta of 0.13. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.26 and a current ratio of 1.65.

Institutional Investors Weigh In On MINISO Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP grew its stake in shares of MINISO Group by 131.1% during 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 last quarter. WFM ASIA BVI Ltd purchased a new stake in MINISO Group during the 3rd quarter worth approximately $35,624,000. Serenity Capital Management PTE. LTD. increased its stake in MINISO Group by 149.8% during the 2nd quarter. Serenity Capital Management PTE. LTD. now owns 1,157,662 shares of the company’s stock valued at $21,093,000 after purchasing an additional 694,212 shares in the last quarter. HCEP Management Ltd raised its holdings in shares of MINISO Group by 2.4% in the third quarter. HCEP Management Ltd now owns 998,251 shares of the company’s stock worth $22,461,000 after buying an additional 23,300 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in shares of MINISO Group by 167.5% during the third quarter. Millennium Management LLC now owns 971,884 shares of the company’s stock worth $21,867,000 after buying an additional 608,544 shares during the period. 17.16% of the stock is currently owned by hedge funds and other institutional investors.

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.