MINISO Group (NYSE:MNSO – Get Free Report) was downgraded by research analysts at Bank of America from a “buy” rating to an “underperform” rating in a research note issued on Monday, Briefing.com reports.
Separately, JPMorgan Chase & Co. dropped their price target on shares of MINISO Group from $29.00 to $27.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd.
Check Out Our Latest Stock Report on MINISO Group
MINISO Group Stock Down 18.5 %
Institutional Investors Weigh In On MINISO Group
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of MINISO Group during the 2nd quarter worth $26,000. Blue Trust Inc. raised its position in MINISO Group by 3,098.4% during 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 in the last quarter. Headlands Technologies LLC purchased a new position in shares of MINISO Group in the 1st quarter worth about $93,000. Banque Cantonale Vaudoise bought a new position in shares of MINISO Group during the 2nd quarter valued at about $118,000. Finally, Bayesian Capital Management LP purchased a new position in shares of MINISO Group during the 1st quarter valued at about $201,000. Hedge funds and other institutional investors own 17.16% of the company’s stock.
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.
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