MINISO Group (NYSE:MNSO) Shares Gap Down to $15.67

MINISO Group Holding Limited (NYSE:MNSO - Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $15.67, but opened at $15.20. MINISO Group shares last traded at $15.18, with a volume of 67,251 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. began coverage on MINISO Group in a research report on Tuesday, April 30th. They set an "overweight" rating and a $30.00 price objective for the company.

MINISO Group Stock Performance

The firm has a market capitalization of $4.74 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 0.59 and a beta of 0.18. The company has a current ratio of 2.18, a quick ratio of 1.80 and a debt-to-equity ratio of 0.10. The stock's 50-day moving average is $18.30 and its 200-day moving average is $19.75.

MINISO Group (NYSE:MNSO - Get Free Report) last announced its quarterly earnings results on Tuesday, May 14th. The company reported $0.26 earnings per share (EPS) for the quarter. MINISO Group had a net margin of 16.23% and a return on equity of 26.19%. The company had revenue of $515.70 million during the quarter. During the same quarter last year, the company posted $0.22 earnings per share. On average, analysts predict that MINISO Group Holding Limited will post 1.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Point72 Asset Management L.P. grew its stake in shares of 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 during the last quarter. Cubist Systematic Strategies LLC grew its position in shares of MINISO Group by 9.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 11,249 shares of the company's stock valued at $215,000 after buying an additional 942 shares during the last quarter. XTX Topco Ltd increased its stake in shares of MINISO Group by 10.6% in the second quarter. XTX Topco Ltd now owns 13,861 shares of the company's stock valued at $264,000 after buying an additional 1,326 shares during the period. Seven Eight Capital LP bought a new position in shares of MINISO Group during the second quarter worth about $607,000. Finally, Beck Bode LLC acquired a new position in shares of MINISO Group in the second quarter worth approximately $1,236,000. 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.