Michaels Companies Inc (NASDAQ:MIK) Shares Acquired by Acadian Asset Management LLC

Acadian Asset Management LLC grew its position in shares of Michaels Companies Inc (NASDAQ:MIK) by 1,731.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,544 shares of the specialty retailer’s stock after purchasing an additional 81,818 shares during the quarter. Acadian Asset Management LLC owned approximately 0.05% of Michaels Companies worth $988,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of MIK. Victory Capital Management Inc. raised its holdings in Michaels Companies by 4.1% in the 4th quarter. Victory Capital Management Inc. now owns 19,501 shares of the specialty retailer’s stock valued at $264,000 after buying an additional 761 shares during the period. Financial Advocates Investment Management raised its holdings in Michaels Companies by 11.0% in the 4th quarter. Financial Advocates Investment Management now owns 9,578 shares of the specialty retailer’s stock valued at $345,000 after buying an additional 950 shares during the period. Amalgamated Bank raised its holdings in Michaels Companies by 5.1% in the 4th quarter. Amalgamated Bank now owns 21,820 shares of the specialty retailer’s stock valued at $295,000 after buying an additional 1,058 shares during the period. Measured Wealth Private Client Group LLC raised its holdings in Michaels Companies by 6.8% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 18,295 shares of the specialty retailer’s stock valued at $248,000 after buying an additional 1,165 shares during the period. Finally, Hsbc Holdings PLC raised its holdings in Michaels Companies by 3.1% in the 4th quarter. Hsbc Holdings PLC now owns 52,411 shares of the specialty retailer’s stock valued at $709,000 after buying an additional 1,592 shares during the period.

Shares of MIK stock traded down $0.66 during trading hours on Monday, hitting $8.04. The stock had a trading volume of 3,252,167 shares, compared to its average volume of 2,566,228. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 3.42, a PEG ratio of 0.58 and a beta of 1.10. Michaels Companies Inc has a twelve month low of $7.78 and a twelve month high of $21.11. The stock has a 50 day moving average price of $9.23.

Michaels Companies (NASDAQ:MIK) last posted its quarterly earnings data on Thursday, June 6th. The specialty retailer reported $0.31 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.31. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.11 billion. Michaels Companies had a negative return on equity of 22.82% and a net margin of 6.34%. The company’s revenue was down 5.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.39 earnings per share. As a group, equities research analysts forecast that Michaels Companies Inc will post 2.36 earnings per share for the current fiscal year.

MIK has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Michaels Companies from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research note on Wednesday, May 22nd. Morgan Stanley lowered shares of Michaels Companies from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $17.00 to $10.00 in a research note on Monday, May 20th. BidaskClub upgraded shares of Michaels Companies from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. Deutsche Bank cut their target price on shares of Michaels Companies from $16.00 to $9.00 and set a “hold” rating on the stock in a research note on Friday, June 7th. Finally, Telsey Advisory Group lowered shares of Michaels Companies from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $17.00 to $9.00 in a research note on Friday, June 7th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $12.20.

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

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