Insider Buying: Carl Rubin Acquires 10,000 Shares of Michaels Companies Stock (MIK)
Michaels Companies (NYSE:MIK) CEO Carl Rubin bought 10,000 shares of the stock on the open market in a transaction that occurred on Wednesday, July 2nd. The stock was purchased at an average price of $17.00 per share, with a total value of $170,000.00. Following the acquisition, the chief executive officer now directly owns 325,353 shares in the company, valued at approximately $5,531,001. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Michaels Companies (NYSE:MIK) traded down 0.70% during mid-day trading on Monday, hitting $16.91. The stock had a trading volume of 358,089 shares. Michaels Companies has a 1-year low of $16.47 and a 1-year high of $17.28. The stock’s 50-day moving average is $16.93 and its 200-day moving average is $16.93. The company has a market cap of $3.434 billion and a price-to-earnings ratio of 14.40.
The Michaels Companies, Inc is an arts and crafts specialty retailer in North America. The Company also operates a vertically integrated custom framing business.
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