MINISO Group (NYSE:MNSO) Sees Strong Trading Volume – Here’s Why

MINISO Group Holding Limited Unsponsored ADR (NYSE:MNSO) saw strong trading volume on Thursday . Approximately 591,149 shares traded hands during trading, an increase of 5% from the previous session’s volume of 563,196 shares.The stock last traded at $12.4040 and had previously closed at $12.50.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on MNSO shares. Zacks Research cut shares of MINISO Group from a “hold” rating to a “strong sell” rating in a research note on Monday, June 15th. JPMorgan Chase & Co. cut their target price on MINISO Group from $26.00 to $16.00 and set an “overweight” rating on the stock in a research report on Friday, May 29th. Weiss Ratings cut MINISO Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, June 25th. Finally, Wall Street Zen raised MINISO Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $21.73.

MINISO Group Trading Down 1.5%

The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 1.54 and a beta of 0.10. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.53 and a quick ratio of 1.14. The business’s 50-day simple moving average is $12.53 and its two-hundred day simple moving average is $15.66.

MINISO Group (NYSE:MNSO) last released its quarterly earnings data on Friday, May 15th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.17). MINISO Group had a return on equity of 18.98% and a net margin of 9.03%.The business had revenue of $825.04 million for the quarter, compared to analysts’ expectations of $805.60 million. On average, research analysts anticipate that MINISO Group Holding Limited Unsponsored ADR will post 1.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MINISO Group news, CEO Guofu Ye purchased 150,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was purchased at an average cost of $3.35 per share, with a total value of $502,500.00. Following the transaction, the chief executive officer owned 315,740,482 shares in the company, valued at approximately $1,057,730,614.70. This trade represents a 0.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Yunyun (Alice) Yang purchased 150,000 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was bought at an average price of $3.35 per share, with a total value of $502,500.00. Following the completion of the acquisition, the vice president owned 315,740,482 shares in the company, valued at $1,057,730,614.70. This represents a 0.05% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have purchased 4,200,000 shares of company stock valued at $13,797,000. 73.50% of the stock is owned by corporate insiders.

Institutional Trading of MINISO Group

Several large investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of MINISO Group during the third quarter valued at approximately $25,000. Parallel Advisors LLC boosted its stake in shares of MINISO Group by 794.7% in the first quarter. Parallel Advisors LLC now owns 2,192 shares of the company’s stock valued at $36,000 after purchasing an additional 1,947 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of MINISO Group by 37.6% in the second quarter. EverSource Wealth Advisors LLC now owns 2,223 shares of the company’s stock valued at $41,000 after purchasing an additional 608 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of MINISO Group by 28.3% in the third quarter. PNC Financial Services Group Inc. now owns 2,480 shares of the company’s stock valued at $56,000 after purchasing an additional 547 shares during the period. Finally, Atlas Capital Advisors Inc. acquired a new stake in MINISO Group during the 4th quarter valued at $126,000. Institutional investors and hedge funds own 17.16% of the company’s stock.

About MINISO Group

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.