Sapience Investments LLC cut its position in shares of Michaels Companies Inc (NASDAQ:MIK) by 41.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 798,507 shares of the specialty retailer’s stock after selling 567,370 shares during the quarter. Michaels Companies comprises about 2.6% of Sapience Investments LLC’s holdings, making the stock its 9th largest position. Sapience Investments LLC owned 0.44% of Michaels Companies worth $19,316,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of MIK. Ellington Management Group LLC bought a new position in shares of Michaels Companies during the fourth quarter valued at about $2,972,000. Stone Ridge Asset Management LLC bought a new position in shares of Michaels Companies during the fourth quarter valued at about $2,502,000. Guggenheim Capital LLC lifted its position in shares of Michaels Companies by 11.3% during the fourth quarter. Guggenheim Capital LLC now owns 21,380 shares of the specialty retailer’s stock valued at $518,000 after purchasing an additional 2,167 shares in the last quarter. Brandywine Global Investment Management LLC raised its position in Michaels Companies by 20.6% in the fourth quarter. Brandywine Global Investment Management LLC now owns 486,645 shares of the specialty retailer’s stock worth $11,772,000 after acquiring an additional 83,240 shares during the period. Finally, AMP Capital Investors Ltd bought a new stake in Michaels Companies in the fourth quarter worth about $465,000.
Several analysts have commented on MIK shares. Zacks Investment Research lowered shares of Michaels Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, December 5th. Deutsche Bank lowered shares of Michaels Companies from a “buy” rating to a “hold” rating and set a $25.00 price objective on the stock. in a research report on Tuesday, December 12th. Telsey Advisory Group raised shares of Michaels Companies from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $23.00 to $32.00 in a research report on Thursday, January 25th. ValuEngine lowered shares of Michaels Companies from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, BidaskClub raised shares of Michaels Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $25.89.
Shares of Michaels Companies Inc (NASDAQ:MIK) opened at $22.50 on Monday. Michaels Companies Inc has a 12-month low of $17.25 and a 12-month high of $27.87. The company has a debt-to-equity ratio of -1.56, a current ratio of 1.39 and a quick ratio of 0.25. The stock has a market cap of $4,078.09, a P/E ratio of 11.48, a PEG ratio of 0.73 and a beta of 1.14.
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Michaels Companies 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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