Campbell & CO Investment Adviser LLC Invests $120,000 in Michaels Companies Inc (NASDAQ:MIK)

Campbell & CO Investment Adviser LLC bought a new position in Michaels Companies Inc (NASDAQ:MIK) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 12,217 shares of the specialty retailer’s stock, valued at approximately $120,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. First Trust Advisors LP lifted its holdings in Michaels Companies by 21.9% during the 2nd quarter. First Trust Advisors LP now owns 345,676 shares of the specialty retailer’s stock valued at $3,007,000 after buying an additional 62,039 shares in the last quarter. BBT Capital Management LLC lifted its holdings in Michaels Companies by 8.3% during the 2nd quarter. BBT Capital Management LLC now owns 51,994 shares of the specialty retailer’s stock valued at $452,000 after buying an additional 3,993 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Michaels Companies by 40.9% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 82,475 shares of the specialty retailer’s stock valued at $718,000 after buying an additional 23,925 shares in the last quarter. Bernzott Capital Advisors lifted its holdings in Michaels Companies by 0.7% during the 2nd quarter. Bernzott Capital Advisors now owns 2,046,073 shares of the specialty retailer’s stock valued at $17,801,000 after buying an additional 14,813 shares in the last quarter. Finally, APG Asset Management N.V. lifted its holdings in Michaels Companies by 1.1% during the 2nd quarter. APG Asset Management N.V. now owns 1,346,300 shares of the specialty retailer’s stock valued at $10,285,000 after buying an additional 14,500 shares in the last quarter.

NASDAQ:MIK opened at $10.66 on Wednesday. Michaels Companies Inc has a one year low of $4.96 and a one year high of $18.04. The firm has a market cap of $1.51 billion, a P/E ratio of 4.54, a P/E/G ratio of 0.91 and a beta of 1.18. The firm has a 50-day simple moving average of $9.07 and a 200-day simple moving average of $9.00.

Michaels Companies (NASDAQ:MIK) last posted its quarterly earnings results on Wednesday, September 4th. The specialty retailer reported $0.19 EPS for the quarter, beating the consensus estimate of $0.14 by $0.05. Michaels Companies had a net margin of 6.31% and a negative return on equity of 23.40%. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the business posted $0.15 EPS. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. Sell-side analysts expect that Michaels Companies Inc will post 2.38 EPS for the current fiscal year.

In other Michaels Companies news, Director Beryl Raff purchased 6,700 shares of Michaels Companies stock in a transaction dated Friday, September 6th. The stock was acquired at an average price of $7.47 per share, for a total transaction of $50,049.00. Following the acquisition, the director now owns 30,993 shares in the company, valued at approximately $231,517.71. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.51% of the company’s stock.

MIK has been the subject of a number of research analyst reports. Bank of America reiterated an “underperform” rating and set a $4.00 price objective (down previously from $5.00) on shares of Michaels Companies in a report on Tuesday, August 20th. ValuEngine upgraded shares of Michaels Companies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Morgan Stanley set a $7.00 price objective on shares of Michaels Companies and gave the company a “hold” rating in a report on Monday, September 9th. Loop Capital set a $15.00 price objective on shares of Michaels Companies and gave the company a “buy” rating in a report on Friday, July 12th. Finally, Goldman Sachs Group initiated coverage on shares of Michaels Companies in a report on Thursday, July 11th. They set a “neutral” rating and a $8.00 price objective for the company. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $8.73.

Michaels Companies 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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