Traders Buy High Volume of Michaels Companies Put Options (MIK)

Michaels Companies Inc (NASDAQ:MIK) was the recipient of some unusual options trading on Monday. Investors bought 1,957 put options on the stock. This represents an increase of approximately 1,558% compared to the typical daily volume of 118 put options.

Shares of Michaels Companies (NASDAQ MIK) opened at $21.49 on Thursday. The company has a debt-to-equity ratio of -1.56, a quick ratio of 0.25 and a current ratio of 1.39. The firm has a market capitalization of $3,833.41, a PE ratio of 10.74, a P/E/G ratio of 0.95 and a beta of 0.92. Michaels Companies has a 12-month low of $17.25 and a 12-month high of $24.24.

Michaels Companies (NASDAQ:MIK) last issued its quarterly earnings results on Thursday, November 30th. The specialty retailer reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.26 billion. Michaels Companies had a negative return on equity of 22.16% and a net margin of 7.33%. The company’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the company earned $0.40 earnings per share. equities analysts expect that Michaels Companies will post 2.16 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. GSA Capital Partners LLP boosted its holdings in Michaels Companies by 12.4% in the third quarter. GSA Capital Partners LLP now owns 53,046 shares of the specialty retailer’s stock worth $1,139,000 after acquiring an additional 5,842 shares in the last quarter. Sterling Capital Management LLC acquired a new stake in Michaels Companies in the third quarter worth about $896,000. California Public Employees Retirement System boosted its holdings in Michaels Companies by 36.2% in the third quarter. California Public Employees Retirement System now owns 135,090 shares of the specialty retailer’s stock worth $2,900,000 after acquiring an additional 35,890 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in Michaels Companies in the third quarter worth about $641,000. Finally, Cubist Systematic Strategies LLC boosted its holdings in Michaels Companies by 70.1% in the third quarter. Cubist Systematic Strategies LLC now owns 38,254 shares of the specialty retailer’s stock worth $821,000 after acquiring an additional 15,769 shares in the last quarter.

A number of brokerages recently weighed in on MIK. Zacks Investment Research downgraded Michaels Companies from a “buy” rating to a “hold” rating in a research report on Tuesday. Piper Jaffray Companies reaffirmed a “hold” rating and set a $18.00 price objective on shares of Michaels Companies in a research report on Friday, September 29th. BidaskClub downgraded Michaels Companies from a “hold” rating to a “sell” rating in a research report on Friday, October 13th. Raymond James Financial reaffirmed a “hold” rating on shares of Michaels Companies in a research report on Saturday, December 2nd. Finally, ValuEngine raised Michaels Companies from a “hold” rating to a “buy” rating in a research report on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. Michaels Companies presently has a consensus rating of “Hold” and a consensus price target of $24.00.

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Michaels Companies Company Profile

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.

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