Clark Estates Inc. NY Buys New Holdings in Michaels Companies Inc (MIK)

Clark Estates Inc. NY purchased a new stake in Michaels Companies Inc (NASDAQ:MIK) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 162,000 shares of the specialty retailer’s stock, valued at approximately $3,919,000. Clark Estates Inc. NY owned approximately 0.09% of Michaels Companies as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Mckinley Capital Management LLC Delaware bought a new position in shares of Michaels Companies during the 2nd quarter valued at about $103,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Michaels Companies by 11.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,556 shares of the specialty retailer’s stock valued at $103,000 after purchasing an additional 549 shares during the last quarter. Pinebridge Investments L.P. bought a new position in shares of Michaels Companies during the 2nd quarter valued at about $124,000. Hikari Power Ltd bought a new position in shares of Michaels Companies during the 4th quarter valued at about $204,000. Finally, Jane Street Group LLC bought a new position in shares of Michaels Companies during the 3rd quarter valued at about $211,000.

MIK has been the topic of several recent research reports. Goldman Sachs Group upgraded Michaels Companies from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 16th. ValuEngine lowered Michaels Companies from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Zacks Investment Research upgraded Michaels Companies from a “sell” rating to a “hold” rating in a research report on Thursday, November 2nd. Deutsche Bank lowered Michaels Companies from a “buy” rating to a “hold” rating and set a $25.00 price objective on the stock. in a research report on Tuesday, December 12th. Finally, BidaskClub upgraded Michaels Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $26.00.

In other Michaels Companies news, CEO Carl Rubin sold 220,930 shares of Michaels Companies stock in a transaction on Friday, January 26th. The stock was sold at an average price of $27.15, for a total transaction of $5,998,249.50. Following the completion of the transaction, the chief executive officer now owns 444,796 shares in the company, valued at $12,076,211.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is currently owned by insiders.

Michaels Companies Inc (MIK) opened at $24.04 on Friday. The company has a market capitalization of $4,357.23, a P/E ratio of 12.27, a PEG ratio of 0.78 and a beta of 0.99. The company has a debt-to-equity ratio of -1.56, a current ratio of 1.39 and a quick ratio of 0.25. Michaels Companies Inc has a one year low of $17.25 and a one year high of $27.87.

Michaels Companies (NASDAQ:MIK) last released its earnings results on Thursday, November 30th. The specialty retailer reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.01. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Michaels Companies had a negative return on equity of 22.16% and a net margin of 7.33%. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.40 EPS. analysts expect that Michaels Companies Inc will post 2.18 earnings per share for the current year.

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About Michaels Companies

The Michaels Companies, Inc (Michaels) is an arts and crafts specialty retailer in North America. The Company’s segments include Michaels-U.S., Michaels-Canada, Aaron Brothers, Pat Catan’s and Darice. As of January 28, 2017, the Company operated 1,223 Michaels retail stores in 49 states and Canada, with approximately 18,000 average square feet of selling space per store.

Institutional Ownership by Quarter for Michaels Companies (NASDAQ:MIK)

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