GSA Capital Partners LLP Raises Position in Michaels Companies Inc (MIK)

GSA Capital Partners LLP boosted its stake in Michaels Companies Inc (NASDAQ:MIK) by 12.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,046 shares of the specialty retailer’s stock after purchasing an additional 5,842 shares during the period. GSA Capital Partners LLP’s holdings in Michaels Companies were worth $1,139,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the stock. Alliancebernstein L.P. raised its stake in shares of Michaels Companies by 52.1% during the second quarter. Alliancebernstein L.P. now owns 6,090,904 shares of the specialty retailer’s stock valued at $112,804,000 after acquiring an additional 2,086,817 shares during the last quarter. State Street Corp raised its stake in shares of Michaels Companies by 15.5% during the second quarter. State Street Corp now owns 5,872,512 shares of the specialty retailer’s stock valued at $108,763,000 after acquiring an additional 787,225 shares during the last quarter. Freestone Capital Holdings LLC raised its stake in shares of Michaels Companies by 2,260.8% during the second quarter. Freestone Capital Holdings LLC now owns 639,903 shares of the specialty retailer’s stock valued at $11,851,000 after acquiring an additional 612,798 shares during the last quarter. BlackRock Inc. raised its stake in shares of Michaels Companies by 7.1% during the second quarter. BlackRock Inc. now owns 8,752,674 shares of the specialty retailer’s stock valued at $162,099,000 after acquiring an additional 583,585 shares during the last quarter. Finally, Sapience Investments LLC raised its stake in shares of Michaels Companies by 70.9% during the second quarter. Sapience Investments LLC now owns 1,171,775 shares of the specialty retailer’s stock valued at $21,701,000 after acquiring an additional 486,295 shares during the last quarter.

Shares of Michaels Companies Inc (NASDAQ:MIK) opened at $23.64 on Friday. Michaels Companies Inc has a 12-month low of $17.25 and a 12-month high of $24.24. 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 cap of $4,163.28, a price-to-earnings ratio of 12.06, a PEG ratio of 1.03 and a beta of 0.92.

Michaels Companies (NASDAQ:MIK) last posted its quarterly earnings data on Thursday, November 30th. The specialty retailer reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.01. Michaels Companies had a net margin of 7.33% and a negative return on equity of 22.16%. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the prior year, the company posted $0.40 earnings per share. Michaels Companies’s revenue for the quarter was up 1.1% compared to the same quarter last year. research analysts anticipate that Michaels Companies Inc will post 2.16 EPS for the current year.

Several research firms have recently issued reports on MIK. Piper Jaffray Companies set a $18.00 price target on shares of Michaels Companies and gave the company a “hold” rating in a research note on Friday, August 25th. Zacks Investment Research downgraded shares of Michaels Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, October 25th. BidaskClub downgraded shares of Michaels Companies from a “hold” rating to a “sell” rating in a research note on Friday, October 13th. ValuEngine downgraded shares of Michaels Companies from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Bank of America reaffirmed a “buy” rating and set a $29.00 price target on shares of Michaels Companies in a research note on Tuesday, September 5th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $23.63.

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About Michaels Companies

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

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