MINISO Group Holding Limited (NYSE:MNSO) Stock Position Reduced by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its stake in MINISO Group Holding Limited (NYSE:MNSO - Free Report) by 71.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 139,509 shares of the company's stock after selling 346,321 shares during the quarter. The Manufacturers Life Insurance Company's holdings in MINISO Group were worth $2,447,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in MNSO. M&G Plc lifted its position in shares of MINISO Group by 129.0% in the second quarter. M&G Plc now owns 1,137,449 shares of the company's stock valued at $21,612,000 after acquiring an additional 640,718 shares in the last quarter. Deltec Asset Management LLC increased its stake in MINISO Group by 9.9% in the second quarter. Deltec Asset Management LLC now owns 31,500 shares of the company's stock valued at $601,000 after purchasing an additional 2,844 shares during the last quarter. Blue Trust Inc. increased its stake in MINISO Group by 3,098.4% in the second quarter. Blue Trust Inc. now owns 1,951 shares of the company's stock valued at $40,000 after purchasing an additional 1,890 shares during the last quarter. Principal Financial Group Inc. increased its stake in MINISO Group by 34.6% in the second quarter. Principal Financial Group Inc. now owns 489,831 shares of the company's stock valued at $9,341,000 after purchasing an additional 125,831 shares during the last quarter. Finally, Banque Cantonale Vaudoise acquired a new position in MINISO Group in the second quarter valued at $118,000. 17.16% of the stock is currently owned by hedge funds and other institutional investors.

MINISO Group Stock Up 2.2 %

Shares of MNSO stock traded up $0.52 during trading hours on Monday, reaching $24.70. The company had a trading volume of 3,197,719 shares, compared to its average volume of 1,894,762. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.66 and a current ratio of 2.14. 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 $7.77 billion, a P/E ratio of 22.25, a price-to-earnings-growth ratio of 1.05 and a beta of 0.14. The stock's fifty day simple moving average is $18.83 and its 200 day simple moving average is $18.23.

Analyst Ratings Changes

Several research firms recently commented on MNSO. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $15.00 target price (down from $27.00) on shares of MINISO Group in a research note on Tuesday, September 24th. Jefferies Financial Group restated a "hold" rating on shares of MINISO Group in a research note on Monday, September 23rd. Bank of America lowered MINISO Group from a "buy" rating to an "underperform" rating in a research note on Monday, September 23rd. Citigroup started coverage on MINISO Group in a research note on Friday, October 4th. They set a "buy" rating and a $26.80 price target for the company. Finally, Dbs Bank upgraded MINISO Group to a "strong-buy" rating in a research note on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target 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.