Erste Asset Management GmbH Makes New Investment in MINISO Group Holding Limited (NYSE:MNSO)

Erste Asset Management GmbH purchased a new stake in shares of MINISO Group Holding Limited (NYSE:MNSO - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 40,000 shares of the company's stock, valued at approximately $685,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MNSO. Point72 Hong Kong Ltd lifted its holdings in shares of MINISO Group by 89.1% in the second quarter. Point72 Hong Kong Ltd now owns 1,707,749 shares of the company's stock valued at $32,567,000 after purchasing an additional 804,706 shares in the last quarter. LMR Partners LLP purchased a new stake in shares of MINISO Group during the third quarter worth $11,384,000. Seven Eight Capital LP purchased a new stake in shares of MINISO Group during the second quarter worth $607,000. M&G Plc raised its holdings in shares of MINISO Group by 129.0% during the second quarter. M&G Plc now owns 1,137,449 shares of the company's stock worth $21,612,000 after acquiring an additional 640,718 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in shares of MINISO Group by 138.1% during the second quarter. Point72 Asset Management L.P. now owns 1,113,200 shares of the company's stock worth $21,229,000 after acquiring an additional 645,722 shares in the last quarter. 17.16% of the stock is owned by institutional investors.

MINISO Group Stock Performance

MNSO stock traded down $1.38 during trading on Wednesday, reaching $23.65. 2,379,842 shares of the stock were exchanged, compared to its average volume of 1,891,109. MINISO Group Holding Limited has a twelve month low of $12.51 and a twelve month high of $25.50. The company has a market capitalization of $7.44 billion, a P/E ratio of 21.34, a price-to-earnings-growth ratio of 0.94 and a beta of 0.14. The stock has a 50 day simple moving average of $18.31 and a 200-day simple moving average of $18.20. The company has a current ratio of 2.38, a quick ratio of 1.93 and a debt-to-equity ratio of 0.15.

Analyst Ratings Changes

Several brokerages recently issued reports on MNSO. Bank of America lowered MINISO Group from a "buy" rating to an "underperform" rating in a report on Monday, September 23rd. JPMorgan Chase & Co. reissued a "neutral" rating and set a $15.00 target price (down from $27.00) on shares of MINISO Group in a research report on Tuesday, September 24th. Dbs Bank raised shares of MINISO Group to a "strong-buy" rating in a research report on Tuesday, September 24th. 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 target price on the stock. Finally, Jefferies Financial Group reissued a "hold" rating on shares of MINISO Group in a research report on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, MINISO Group presently has a consensus rating of "Hold" and an average target price of $20.90.

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.