MINISO Group (NYSE:MNSO) Cut to Strong Sell at Zacks Research

Zacks Research lowered shares of MINISO Group (NYSE:MNSO) from a hold rating to a strong sell rating in a research note issued to investors on Wednesday,Zacks.com reports.

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

MINISO Group Stock Up 0.7%

MNSO opened at $19.81 on Wednesday. MINISO Group has a 12 month low of $13.94 and a 12 month high of $26.74. The business has a 50-day moving average of $20.00 and a two-hundred day moving average of $20.87. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.65 and a quick ratio of 1.26. The stock has a market capitalization of $6.13 billion, a price-to-earnings ratio of 20.42, a price-to-earnings-growth ratio of 1.38 and a beta of 0.09.

Institutional Trading of MINISO Group

Institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP raised its position in MINISO Group by 131.1% in the second quarter. Marshall Wace LLP now owns 1,776,960 shares of the company’s stock valued at $32,376,000 after purchasing an additional 1,008,048 shares during the period. WFM ASIA BVI Ltd purchased a new stake in shares of MINISO Group in the third quarter worth about $35,624,000. Serenity Capital Management PTE. LTD. grew its stake in shares of MINISO Group by 149.8% in the second quarter. Serenity Capital Management PTE. LTD. now owns 1,157,662 shares of the company’s stock valued at $21,093,000 after buying an additional 694,212 shares in the last quarter. HCEP Management Ltd raised its holdings in shares of MINISO Group by 2.4% during the 3rd quarter. HCEP Management Ltd now owns 998,251 shares of the company’s stock valued at $22,461,000 after buying an additional 23,300 shares during the period. Finally, Millennium Management LLC lifted its position in MINISO Group by 167.5% during the 3rd quarter. Millennium Management LLC now owns 971,884 shares of the company’s stock worth $21,867,000 after acquiring an additional 608,544 shares in the last quarter. 17.16% of the stock is owned by hedge funds and other institutional investors.

MINISO Group Company Profile

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.