Balter Liquid Alternatives LLC Raises Stake in Michaels Companies Inc (MIK)

Balter Liquid Alternatives LLC boosted its stake in shares of Michaels Companies Inc (NASDAQ:MIK) by 56.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,992 shares of the specialty retailer’s stock after purchasing an additional 16,600 shares during the quarter. Balter Liquid Alternatives LLC’s holdings in Michaels Companies were worth $887,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. WP Advisors LLC acquired a new position in Michaels Companies during the 2nd quarter valued at approximately $113,000. Cerebellum GP LLC acquired a new position in Michaels Companies during the 2nd quarter valued at approximately $162,000. Cambridge Investment Research Advisors Inc. acquired a new position in Michaels Companies during the 4th quarter valued at approximately $218,000. Verition Fund Management LLC acquired a new position in Michaels Companies during the 1st quarter valued at approximately $205,000. Finally, Atria Investments LLC acquired a new position in Michaels Companies during the 2nd quarter valued at approximately $256,000.

Shares of Michaels Companies stock opened at $20.10 on Friday. The company has a debt-to-equity ratio of -1.82, a quick ratio of 0.60 and a current ratio of 1.79. The firm has a market cap of $3.69 billion, a price-to-earnings ratio of 9.26, a price-to-earnings-growth ratio of 1.14 and a beta of 1.24. Michaels Companies Inc has a 1-year low of $17.66 and a 1-year high of $27.87.

Michaels Companies (NASDAQ:MIK) last announced its earnings results on Thursday, June 14th. The specialty retailer reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. Michaels Companies had a negative return on equity of 24.87% and a net margin of 6.44%. The firm’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.38 EPS. research analysts forecast that Michaels Companies Inc will post 2.32 EPS for the current fiscal year.

A number of research firms recently issued reports on MIK. Zacks Investment Research lowered Michaels Companies from a “hold” rating to a “sell” rating in a research report on Saturday, June 16th. JPMorgan Chase & Co. reaffirmed a “focus list” rating on shares of Michaels Companies in a research note on Thursday, June 21st. Credit Suisse Group reaffirmed a “buy” rating on shares of Michaels Companies in a research note on Thursday, August 9th. BidaskClub raised Michaels Companies from a “sell” rating to a “hold” rating in a research note on Wednesday, June 6th. Finally, Wells Fargo & Co started coverage on Michaels Companies in a research note on Monday, April 23rd. They set a “market perform” rating and a $20.00 target price on the stock. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $23.80.

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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