MINISO Group (NYSE:MNSO) Shares Gap Up – Should You Buy?

Shares of MINISO Group Holding Limited (NYSE:MNSO) gapped up before the market opened on Monday . The stock had previously closed at $20.01, but opened at $23.01. MINISO Group shares last traded at $22.50, with a volume of 2,172,750 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MNSO. Bank of America lowered MINISO Group from a “buy” rating to an “underperform” rating in a research report on Monday, September 23rd. Citigroup initiated coverage on shares of MINISO Group in a research report on Friday, October 4th. They set a “buy” rating and a $26.80 price objective on the stock. Dbs Bank upgraded shares of MINISO Group to a “strong-buy” rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $15.00 target price (down previously from $27.00) on shares of MINISO Group in a research note on Tuesday, September 24th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of MINISO Group in a research note on Monday, September 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $20.90.

MINISO Group Price Performance

The stock’s 50 day simple moving average is $17.90 and its 200-day simple moving average is $18.20. The stock has a market capitalization of $7.05 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 0.82 and a beta of 0.15. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.38 and a quick ratio of 1.93.

MINISO Group (NYSE:MNSO) last announced its quarterly earnings results on Friday, August 30th. The company reported $0.26 earnings per share for the quarter. The company had revenue of $555.26 million during the quarter, compared to analysts’ expectations of $557.54 million. MINISO Group had a return on equity of 26.41% and a net margin of 15.72%. On average, analysts expect that MINISO Group Holding Limited will post 1.23 EPS for the current fiscal year.

Hedge Funds Weigh In On MINISO Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. M&G PLC lifted its stake in shares of MINISO Group by 217.5% in the third quarter. M&G PLC now owns 3,611,656 shares of the company’s stock valued at $65,010,000 after buying an additional 2,474,207 shares during the period. Sylebra Capital LLC grew its holdings in shares of MINISO Group by 96.3% during the 2nd quarter. Sylebra Capital LLC now owns 1,831,002 shares of the company’s stock worth $34,917,000 after purchasing an additional 898,373 shares in the last quarter. Point72 Hong Kong Ltd raised its stake in shares of MINISO Group by 89.1% in the 2nd quarter. Point72 Hong Kong Ltd now owns 1,707,749 shares of the company’s stock valued at $32,567,000 after buying an additional 804,706 shares in the last quarter. LMR Partners LLP bought a new stake in MINISO Group in the third quarter valued at about $11,384,000. Finally, Point72 Asset Management L.P. raised its position in MINISO Group by 138.1% in the second quarter. Point72 Asset Management L.P. now owns 1,113,200 shares of the company’s stock worth $21,229,000 after purchasing an additional 645,722 shares in the last quarter. Institutional investors and hedge funds own 17.16% of the company’s stock.

MINISO Group Company Profile

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.