MINISO Group (NYSE:MNSO) Shares Gap Down - Here's Why

MINISO Group Holding Limited (NYSE:MNSO - Get Free Report) shares gapped down before the market opened on Thursday . The stock had previously closed at $21.79, but opened at $20.96. MINISO Group shares last traded at $21.35, with a volume of 121,782 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on MNSO shares. HSBC assumed coverage on shares of MINISO Group in a research note on Wednesday, February 26th. They issued a "buy" rating and a $29.30 price target for the company. Hsbc Global Res raised MINISO Group to a "strong-buy" rating in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, MINISO Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.70.

MINISO Group Price Performance

The firm has a market cap of $5.70 billion, a P/E ratio of 16.44, a price-to-earnings-growth ratio of 0.80 and a beta of 0.10. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.14 and a quick ratio of 1.66. The firm's 50 day moving average is $21.83 and its 200 day moving average is $20.48.

MINISO Group (NYSE:MNSO - Get Free Report) last issued its quarterly earnings results on Friday, March 21st. The company reported $0.36 EPS for the quarter, missing analysts' consensus estimates of $2.61 by ($2.25). The company had revenue of $646.49 million during the quarter, compared to the consensus estimate of $4.82 billion. MINISO Group had a return on equity of 26.07% and a net margin of 15.18%. As a group, analysts anticipate that MINISO Group Holding Limited will post 1.19 earnings per share for the current year.

MINISO Group Announces Dividend

The business also recently declared a dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Tuesday, April 8th will be issued a dividend of $0.3268 per share. The ex-dividend date is Tuesday, April 8th. MINISO Group's payout ratio is presently 46.85%.

Hedge Funds Weigh In On MINISO Group

A number of hedge funds have recently bought and sold shares of the company. Citigroup Inc. boosted its stake in MINISO Group by 553.7% during the 3rd quarter. Citigroup Inc. now owns 390,286 shares of the company's stock valued at $6,846,000 after purchasing an additional 330,579 shares during the last quarter. FMR LLC lifted its stake in shares of MINISO Group by 230.2% in the 3rd quarter. FMR LLC now owns 4,137 shares of the company's stock worth $73,000 after purchasing an additional 2,884 shares during the period. Erste Asset Management GmbH bought a new position in shares of MINISO Group in the 3rd quarter worth approximately $685,000. Centiva Capital LP purchased a new position in shares of MINISO Group in the third quarter worth approximately $255,000. Finally, Quantinno Capital Management LP bought a new stake in MINISO Group during the third quarter valued at approximately $191,000. Institutional investors 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.