MINISO Group (NYSE:MNSO) Rating Lowered to Underperform at Bank of America

MINISO Group (NYSE:MNSO) was downgraded by research analysts at Bank of America from a “buy” rating to an “underperform” rating in a research report issued to clients and investors on Monday, MarketBeat reports.

Separately, JPMorgan Chase & Co. decreased their price target on shares of MINISO Group from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd.

MINISO Group Trading Down 2.5 %

NYSE:MNSO opened at $13.38 on Monday. The company has a quick ratio of 1.93, a current ratio of 2.38 and a debt-to-equity ratio of 0.15. MINISO Group has a 52 week low of $12.51 and a 52 week high of $28.28. The stock has a market capitalization of $4.23 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 0.68 and a beta of 0.17. The firm has a 50 day moving average of $16.07 and a 200 day moving average of $19.44.

MINISO Group (NYSE:MNSO) last released its quarterly earnings data on Friday, August 30th. The company reported $0.26 earnings per share for the quarter. MINISO Group had a net margin of 15.72% and a return on equity of 26.41%. The firm had revenue of $555.26 million for the quarter, compared to analyst estimates of $557.54 million. As a group, sell-side analysts anticipate that MINISO Group will post 1.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MINISO Group

Institutional investors and hedge funds have recently made changes to their positions in the business. GSA Capital Partners LLP grew its position in shares of MINISO Group by 96.4% during the first quarter. GSA Capital Partners LLP now owns 89,196 shares of the company’s stock worth $1,829,000 after buying an additional 43,782 shares in the last quarter. Prudential PLC lifted its holdings in MINISO Group by 884.5% in the fourth quarter. Prudential PLC now owns 217,548 shares of the company’s stock worth $4,438,000 after purchasing an additional 195,451 shares during the period. M&G Plc acquired a new stake in MINISO Group in the first quarter worth about $10,431,000. Seven Eight Capital LP bought a new stake in MINISO Group in the second quarter worth about $607,000. Finally, Beck Bode LLC bought a new stake in MINISO Group in the second quarter worth about $1,236,000. 17.16% of the stock is currently 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.