OppenheimerFunds Inc. boosted its position in shares of Michaels Companies Inc (NASDAQ:MIK) by 9.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 68,382 shares of the specialty retailer’s stock after purchasing an additional 5,719 shares during the period. OppenheimerFunds Inc.’s holdings in Michaels Companies were worth $1,654,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of MIK. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Michaels Companies by 40.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,792 shares of the specialty retailer’s stock worth $188,000 after purchasing an additional 2,236 shares in the last quarter. Hikari Power Ltd purchased a new position in shares of Michaels Companies during the 4th quarter valued at $204,000. Cetera Advisor Networks LLC purchased a new position in shares of Michaels Companies during the 4th quarter valued at $208,000. Jane Street Group LLC purchased a new position in shares of Michaels Companies during the 3rd quarter valued at $211,000. Finally, State of Alaska Department of Revenue purchased a new position in shares of Michaels Companies during the 4th quarter valued at $214,000.
Several research firms have recently commented on MIK. Piper Jaffray Companies restated a “sell” rating and set a $18.00 price target on shares of Michaels Companies in a report on Tuesday, March 6th. ValuEngine cut shares of Michaels Companies from a “buy” rating to a “hold” rating in a report on Thursday, March 1st. Loop Capital began coverage on shares of Michaels Companies in a report on Thursday, March 1st. They set a “hold” rating and a $25.00 price target on the stock. BidaskClub cut shares of Michaels Companies from a “buy” rating to a “hold” rating in a report on Thursday, March 1st. Finally, Zacks Investment Research upgraded shares of Michaels Companies from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Saturday, February 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $25.89.
Shares of Michaels Companies Inc (NASDAQ:MIK) opened at $22.25 on Wednesday. The stock has a market cap of $4,023.72, a price-to-earnings ratio of 11.27, a P/E/G ratio of 0.72 and a beta of 1.14. Michaels Companies Inc has a fifty-two week low of $17.25 and a fifty-two week high of $27.87. The company has a quick ratio of 0.25, a current ratio of 1.39 and a debt-to-equity ratio of -1.56.
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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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