First Quadrant L P CA Sells 227,788 Shares of The Michaels Companies, Inc. (NASDAQ:MIK)

First Quadrant L P CA trimmed its holdings in The Michaels Companies, Inc. (NASDAQ:MIK) by 18.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 994,092 shares of the specialty retailer’s stock after selling 227,788 shares during the period. First Quadrant L P CA owned 0.55% of The Michaels Companies worth $21,343,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MIK. Alliancebernstein L.P. boosted its stake in shares of The Michaels Companies by 52.1% in the 2nd quarter. Alliancebernstein L.P. now owns 6,090,904 shares of the specialty retailer’s stock worth $112,804,000 after buying an additional 2,086,817 shares during the last quarter. CenturyLink Investment Management Co boosted its holdings in shares of The Michaels Companies by 54.0% during the second quarter. CenturyLink Investment Management Co now owns 32,242 shares of the specialty retailer’s stock worth $597,000 after purchasing an additional 11,300 shares during the period. BlackRock Inc. boosted its holdings in shares of The Michaels Companies by 7.1% during the second quarter. BlackRock Inc. now owns 8,752,674 shares of the specialty retailer’s stock worth $162,099,000 after purchasing an additional 583,585 shares during the period. Rhumbline Advisers boosted its holdings in shares of The Michaels Companies by 12.2% during the second quarter. Rhumbline Advisers now owns 204,645 shares of the specialty retailer’s stock worth $3,790,000 after purchasing an additional 22,190 shares during the period. Finally, Flinton Capital Management LLC boosted its holdings in shares of The Michaels Companies by 75.9% during the second quarter. Flinton Capital Management LLC now owns 58,512 shares of the specialty retailer’s stock worth $1,084,000 after purchasing an additional 25,248 shares during the period.

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Shares of The Michaels Companies, Inc. (NASDAQ:MIK) remained flat at $$18.57 during midday trading on Tuesday. The company’s stock had a trading volume of 1,779,900 shares, compared to its average volume of 2,141,301. The company has a debt-to-equity ratio of -1.53, a current ratio of 1.44 and a quick ratio of 0.26. The stock has a market capitalization of $3,360.92, a PE ratio of 9.62, a P/E/G ratio of 0.84 and a beta of 0.86. The Michaels Companies, Inc. has a 52-week low of $17.25 and a 52-week high of $25.57.

The Michaels Companies (NASDAQ:MIK) last posted its quarterly earnings data on Thursday, August 24th. The specialty retailer reported $0.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.03. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.06 billion. The Michaels Companies had a net margin of 7.29% and a negative return on equity of 22.53%. The company’s revenue was up 1.2% compared to the same quarter last year. During the same period last year, the firm posted $0.17 earnings per share. analysts forecast that The Michaels Companies, Inc. will post 2.14 EPS for the current year.

Several analysts have commented on the stock. BidaskClub upgraded shares of The Michaels Companies from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. Bank of America Corporation reaffirmed a “buy” rating and issued a $29.00 target price on shares of The Michaels Companies in a research report on Tuesday, September 5th. ValuEngine upgraded shares of The Michaels Companies from a “hold” rating to a “buy” rating in a research note on Friday, October 27th. Piper Jaffray Companies set a $18.00 price target on shares of The Michaels Companies and gave the stock a “hold” rating in a research note on Friday, August 25th. Finally, Zacks Investment Research upgraded shares of The Michaels Companies from a “sell” rating to a “hold” rating in a report on Friday, August 25th. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. The Michaels Companies has a consensus rating of “Hold” and a consensus price target of $24.29.

The 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.

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

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