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

MINISO Group Holding Limited (NYSE:MNSO) gapped down prior to trading on Friday . The stock had previously closed at $19.52, but opened at $18.75. MINISO Group shares last traded at $18.50, with a volume of 186,765 shares trading hands.

Analyst Ratings Changes

MNSO has been the subject of several analyst reports. Hsbc Global Res upgraded MINISO Group to a “strong-buy” rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. raised shares of MINISO Group from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $15.00 to $22.00 in a report on Tuesday. Finally, HSBC initiated coverage on shares of MINISO Group in a research note on Wednesday, February 26th. They set a “buy” rating and a $29.30 price objective for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, MINISO Group presently has a consensus rating of “Moderate Buy” and an average target price of $26.03.

MINISO Group Trading Down 4.7 %

The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.66 and a current ratio of 2.14. The stock has a 50-day moving average price of $21.49 and a 200-day moving average price of $20.50. The stock has a market cap of $5.81 billion, a P/E ratio of 16.78, a P/E/G ratio of 0.80 and a beta of 0.10.

MINISO Group (NYSE:MNSO) last released its quarterly earnings results on Friday, March 21st. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $2.61 by ($2.25). MINISO Group had a return on equity of 26.07% and a net margin of 15.18%. The company had revenue of $646.49 million during the quarter, compared to analysts’ expectations of $4.82 billion. On average, equities research analysts expect that MINISO Group Holding Limited will post 1.19 EPS for the current year.

MINISO Group Dividend Announcement

The company also recently disclosed a — dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Tuesday, April 8th will be issued a $0.3268 dividend. This represents a dividend yield of 1.4%. The ex-dividend date is Tuesday, April 8th. MINISO Group’s payout ratio is currently 55.08%.

Hedge Funds Weigh In On MINISO Group

A number of large investors have recently modified their holdings of the company. KEYWISE CAPITAL MANAGEMENT HK Ltd grew its position in MINISO Group by 76.6% during the fourth quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd now owns 9,201,950 shares of the company’s stock valued at $219,835,000 after acquiring an additional 3,992,300 shares during the last quarter. HCEP Management Ltd bought a new position in shares of MINISO Group during the 4th quarter valued at $40,613,000. MY.Alpha Management HK Advisors Ltd raised its position in MINISO Group by 37.5% in the 4th quarter. MY.Alpha Management HK Advisors Ltd now owns 554,964 shares of the company’s stock worth $13,258,000 after purchasing an additional 151,364 shares during the period. Candriam S.C.A. purchased a new position in MINISO Group in the 4th quarter worth $9,986,000. Finally, Citigroup Inc. boosted its position in MINISO Group by 553.7% during the third quarter. Citigroup Inc. now owns 390,286 shares of the company’s stock valued at $6,846,000 after buying an additional 330,579 shares during the period. 17.16% of the stock is owned by hedge funds and other institutional investors.

About MINISO Group

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.