Pacer Advisors Inc. acquired a new stake in Michaels Companies Inc (NASDAQ:MIK) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 84,012 shares of the specialty retailer’s stock, valued at approximately $731,000. Pacer Advisors Inc. owned 0.05% of Michaels Companies at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. AlphaOne Investment Services LLC lifted its stake in shares of Michaels Companies by 126.1% in the 1st quarter. AlphaOne Investment Services LLC now owns 3,211 shares of the specialty retailer’s stock valued at $37,000 after purchasing an additional 1,791 shares during the period. Royce & Associates LP lifted its stake in shares of Michaels Companies by 56.3% in the 1st quarter. Royce & Associates LP now owns 3,911 shares of the specialty retailer’s stock valued at $45,000 after purchasing an additional 1,408 shares during the period. Marshall Wace North America L.P. acquired a new position in shares of Michaels Companies in the 1st quarter valued at about $102,000. Bank of Montreal Can lifted its stake in shares of Michaels Companies by 54.8% in the 2nd quarter. Bank of Montreal Can now owns 9,022 shares of the specialty retailer’s stock valued at $78,000 after purchasing an additional 3,194 shares during the period. Finally, Fox Run Management L.L.C. acquired a new position in shares of Michaels Companies in the 2nd quarter valued at about $98,000.
MIK stock traded up $0.33 during trading on Friday, reaching $9.57. 4,830,605 shares of the stock were exchanged, compared to its average volume of 5,729,383. The firm’s 50 day moving average is $6.41 and its 200 day moving average is $9.57. Michaels Companies Inc has a twelve month low of $4.96 and a twelve month high of $18.04. The firm has a market cap of $1.43 billion, a P/E ratio of 4.07, a price-to-earnings-growth ratio of 0.69 and a beta of 1.06.
Michaels Companies (NASDAQ:MIK) last posted its quarterly earnings results on Wednesday, September 4th. The specialty retailer reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.05. Michaels Companies had a negative return on equity of 23.40% and a net margin of 6.31%. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the business earned $0.15 EPS. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. As a group, sell-side analysts predict that Michaels Companies Inc will post 2.37 EPS for the current year.
A number of research analysts have recently issued reports on the company. Credit Suisse Group downgraded Michaels Companies from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $18.00 to $11.00 in a research note on Friday, June 7th. Deutsche Bank dropped their price target on Michaels Companies from $16.00 to $9.00 and set a “hold” rating on the stock in a research note on Friday, June 7th. Zacks Investment Research downgraded Michaels Companies from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. BidaskClub raised Michaels Companies from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 7th. Finally, Loop Capital set a $15.00 price target on Michaels Companies and gave the stock a “buy” rating in a research note on Friday, July 12th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. Michaels Companies currently has an average rating of “Hold” and a consensus target price of $8.73.
In related news, Director Beryl Raff acquired 6,700 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was purchased at an average cost of $7.47 per share, with a total value of $50,049.00. Following the acquisition, the director now owns 30,993 shares of the company’s stock, valued at approximately $231,517.71. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 0.51% of the stock is currently owned by corporate insiders.
About Michaels Companies
The Michaels Companies, Inc owns and operates arts and crafts specialty retail stores for Makers and do-it-yourself home decorators in North America. It operates Michaels stores that offer approximately 45,000 stock-keeping units (SKUs) in crafts, home decor and seasonal, framing, and paper crafting; and Aaron Brothers stores, which offer approximately 5,600 SKUs, including photo frames, a line of ready-made frames, art prints, framed art, art supplies, and custom framing services.
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