CLARET ASSET MANAGEMENT Corp Invests $129,000 in Michaels Companies Inc (NASDAQ:MIK)

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CLARET ASSET MANAGEMENT Corp acquired a new position in shares of Michaels Companies Inc (NASDAQ:MIK) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 13,185 shares of the specialty retailer’s stock, valued at approximately $129,000.

A number of other institutional investors also recently bought and sold shares of the business. Marshall Wace North America L.P. acquired a new stake in shares of Michaels Companies in the 1st quarter valued at $102,000. Bank of Montreal Can boosted its holdings in shares of Michaels Companies by 54.8% during the 2nd quarter. Bank of Montreal Can now owns 9,022 shares of the specialty retailer’s stock valued at $78,000 after acquiring an additional 3,194 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Michaels Companies during the 2nd quarter valued at $98,000. Weiss Asset Management LP acquired a new stake in shares of Michaels Companies during the 1st quarter valued at $136,000. Finally, Cerebellum GP LLC acquired a new stake in shares of Michaels Companies during the 1st quarter valued at $154,000.

In other news, Director Beryl Raff bought 6,700 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average cost of $7.47 per share, with a total value of $50,049.00. Following the transaction, the director now directly owns 30,993 shares of the company’s stock, valued at approximately $231,517.71. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.51% of the company’s stock.

MIK has been the topic of several recent research reports. Bank of America reissued an “underperform” rating and set a $4.00 price objective (down previously from $5.00) on shares of Michaels Companies in a report on Tuesday, August 20th. Loop Capital set a $15.00 price objective on Michaels Companies and gave the company a “buy” rating in a report on Friday, July 12th. BidaskClub raised Michaels Companies from a “sell” rating to a “hold” rating in a report on Thursday, September 26th. Morgan Stanley set a $7.00 target price on Michaels Companies and gave the stock a “hold” rating in a report on Monday, September 9th. Finally, Goldman Sachs Group initiated coverage on Michaels Companies in a report on Thursday, July 11th. They set a “neutral” rating and a $8.00 target price on the stock. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. Michaels Companies has an average rating of “Hold” and a consensus price target of $8.73.

MIK stock opened at $9.57 on Friday. The stock has a 50-day moving average price of $8.13 and a 200-day moving average price of $9.09. Michaels Companies Inc has a 1-year low of $4.96 and a 1-year high of $18.04. The firm has a market cap of $1.49 billion, a PE ratio of 4.07, a price-to-earnings-growth ratio of 0.87 and a beta of 1.18.

Michaels Companies (NASDAQ:MIK) last issued its earnings results on Wednesday, September 4th. The specialty retailer reported $0.19 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the company posted $0.15 EPS. The firm’s revenue was down 1.9% compared to the same quarter last year. On average, equities analysts forecast that Michaels Companies Inc will post 2.38 earnings per share for the current year.

Michaels Companies 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.

See Also: Buy-Side Analysts

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

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