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

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

Other research analysts have also recently issued research reports about the company. Weiss Ratings restated a “hold (c)” rating on shares of MINISO Group in a research note on Monday, December 29th. Deutsche Bank Aktiengesellschaft initiated coverage on MINISO Group in a report on Tuesday, November 25th. They issued a “buy” rating and a $23.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $25.13.

MINISO Group Stock Performance

Shares of MNSO opened at $19.70 on Wednesday. The company has a 50-day simple moving average of $20.04 and a two-hundred day simple moving average of $20.85. 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 firm has a market capitalization of $6.09 billion, a PE ratio of 20.30, a price-to-earnings-growth ratio of 1.37 and a beta of 0.09. MINISO Group has a one year low of $13.94 and a one year high of $26.74.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP grew its stake in shares of MINISO Group by 131.1% in 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 position in shares of MINISO Group in the 3rd quarter worth about $35,624,000. Serenity Capital Management PTE. LTD. raised its position in shares of MINISO Group by 149.8% in the 2nd quarter. Serenity Capital Management PTE. LTD. now owns 1,157,662 shares of the company’s stock worth $21,093,000 after purchasing an additional 694,212 shares during the last quarter. HCEP Management Ltd grew its position in 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 purchasing an additional 23,300 shares during the last quarter. Finally, Millennium Management LLC grew 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 valued at $21,867,000 after purchasing an additional 608,544 shares during the last quarter. Hedge funds and other institutional investors own 17.16% of the company’s stock.

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.