AQR Capital Management LLC raised its position in shares of Michaels Companies Inc (NASDAQ:MIK) by 309.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 250,365 shares of the specialty retailer’s stock after buying an additional 189,256 shares during the quarter. AQR Capital Management LLC owned about 0.17% of Michaels Companies worth $1,770,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MIK. Public Employees Retirement Association of Colorado boosted its holdings in shares of Michaels Companies by 31.6% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 17,282 shares of the specialty retailer’s stock worth $28,000 after purchasing an additional 4,153 shares during the period. Maryland Capital Management purchased a new position in shares of Michaels Companies in the 1st quarter worth approximately $29,000. Mercer Global Advisors Inc. ADV purchased a new position in shares of Michaels Companies in the 1st quarter worth approximately $29,000. Advisor Group Holdings Inc. boosted its holdings in shares of Michaels Companies by 107.5% in the 2nd quarter. Advisor Group Holdings Inc. now owns 4,167 shares of the specialty retailer’s stock worth $29,000 after purchasing an additional 2,159 shares during the period. Finally, Globeflex Capital L P boosted its holdings in shares of Michaels Companies by 115.0% in the 1st quarter. Globeflex Capital L P now owns 20,310 shares of the specialty retailer’s stock worth $33,000 after purchasing an additional 10,864 shares during the period.
MIK has been the subject of a number of recent research reports. Loop Capital lifted their target price on Michaels Companies from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Friday. JPMorgan Chase & Co. raised their price target on Michaels Companies from $13.00 to $14.00 and gave the stock an “overweight” rating in a research note on Monday, August 31st. Telsey Advisory Group raised their price target on Michaels Companies from $6.00 to $10.00 and gave the stock a “market perform” rating in a research note on Friday, August 21st. Wells Fargo & Company raised their price target on Michaels Companies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Morgan Stanley raised their price target on Michaels Companies from $5.00 to $7.00 and gave the stock an “underweight” rating in a research note on Friday. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. Michaels Companies currently has a consensus rating of “Hold” and an average target price of $11.72.
Shares of NASDAQ MIK opened at $9.42 on Friday. The business has a fifty day simple moving average of $9.80 and a two-hundred day simple moving average of $5.72. The firm has a market cap of $1.39 billion, a PE ratio of 9.92, a price-to-earnings-growth ratio of 4.88 and a beta of 3.04. Michaels Companies Inc has a twelve month low of $1.00 and a twelve month high of $11.70.
Michaels Companies (NASDAQ:MIK) last issued its earnings results on Thursday, September 3rd. The specialty retailer reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.38. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.01 billion. Michaels Companies had a negative return on equity of 14.84% and a net margin of 2.84%. Michaels Companies’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.19 EPS. On average, equities research analysts anticipate that Michaels Companies Inc will post 1.68 earnings per share for the current year.
Michaels Companies Company Profile
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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