Parametrica Management Ltd Invests $131,000 in Michaels Companies Inc (MIK) Stock

Parametrica Management Ltd acquired a new stake in shares of Michaels Companies Inc (NASDAQ:MIK) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 11,491 shares of the specialty retailer’s stock, valued at approximately $131,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in MIK. Norges Bank purchased a new stake in shares of Michaels Companies during the 4th quarter valued at about $30,536,000. Prudential Financial Inc. boosted its holdings in shares of Michaels Companies by 1,135.5% during the 4th quarter. Prudential Financial Inc. now owns 1,503,157 shares of the specialty retailer’s stock valued at $20,353,000 after acquiring an additional 1,381,497 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of Michaels Companies by 5,916.2% during the 4th quarter. Teacher Retirement System of Texas now owns 776,266 shares of the specialty retailer’s stock valued at $10,511,000 after acquiring an additional 763,363 shares during the last quarter. Bernzott Capital Advisors boosted its holdings in shares of Michaels Companies by 43.3% during the 4th quarter. Bernzott Capital Advisors now owns 1,778,180 shares of the specialty retailer’s stock valued at $24,077,000 after acquiring an additional 537,170 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its holdings in shares of Michaels Companies by 1,108.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 525,907 shares of the specialty retailer’s stock valued at $39,000 after acquiring an additional 482,395 shares during the last quarter.

Shares of NASDAQ:MIK opened at $10.45 on Friday. Michaels Companies Inc has a twelve month low of $10.39 and a twelve month high of $22.15. The company has a market capitalization of $1.65 billion, a PE ratio of 4.45, a price-to-earnings-growth ratio of 0.56 and a beta of 1.08.

Michaels Companies (NASDAQ:MIK) last issued its quarterly earnings data on Tuesday, March 19th. The specialty retailer reported $1.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.42 by $0.02. Michaels Companies had a net margin of 6.06% and a negative return on equity of 24.50%. The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the prior year, the business earned $1.19 EPS. The business’s quarterly revenue was down 5.4% on a year-over-year basis. On average, research analysts expect that Michaels Companies Inc will post 2.46 earnings per share for the current fiscal year.

A number of brokerages have recently issued reports on MIK. BidaskClub raised shares of Michaels Companies from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Bank of America downgraded shares of Michaels Companies from a “buy” rating to a “neutral” rating and dropped their price target for the company from $21.00 to $15.00 in a report on Wednesday, March 20th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $17.00 price target (down previously from $20.00) on shares of Michaels Companies in a report on Wednesday, March 20th. Zacks Investment Research downgraded shares of Michaels Companies from a “hold” rating to a “sell” rating in a report on Friday, March 15th. Finally, Piper Jaffray Companies dropped their price target on shares of Michaels Companies from $11.00 to $9.00 and set an “underweight” rating on the stock in a report on Friday, March 15th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $16.30.

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Michaels Companies Company Profile

The Michaels Companies, Inc owns and operates arts and crafts specialty retail stores for Makers and do-it-yourself home decorators in North America. It operates Michaels stores that offer approximately 45,000 stock-keeping units (SKUs) in crafts, home decor and seasonal, framing, and paper crafting; and Aaron Brothers stores, which offer approximately 5,600 SKUs, including photo frames, a line of ready-made frames, art prints, framed art, art supplies, and custom framing services.

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

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