122 institutional investors are raising stakes in The Michaels Companies, Inc. (MIK)

The Michaels Companies, Inc. (NASDAQ:MIK) enjoyed a 28.04% run-up in share price since hitting record low of $12.48. The stock managed 2.77% rise and now stands at $15.98 as of 01/11/2019. At recent session, the prices were hovering between $15.45 and $16.185. This company shares are 26.28% off its target price of $20.18 and the current market capitalization stands at $2.45B. The recent change has given its price a 1.33% lead over SMA 50 and -42.66% deficit over its 52-week high. The stock witnessed 3.83% gains, 2.77% gains and -18.76% declines for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found MIK’s volatility during a week at 4.4% and during a month it has been found around 4.97%.

The Michaels Companies, Inc. (MIK) Top Holders

Institutional investors currently hold around $2.88 billion or 0% in MIK stock. Look at its top three institutional owners. Bain Capital Investors Llc owns $843.73 million in The Michaels Companies, Inc., which represents roughly 34.44% of the company’s market cap and approximately 29.27% of the institutional ownership. Similar statistics are true for the second largest owner, Blackstone Group L.P., which owns 20,393,531 shares of the stock are valued at $325.89 million. The third largest holder is Price T Rowe Associates Inc /Md/, which currently holds $201.98 million worth of this stock and that ownership represents nearly 8.24% of its market capitalization.

The Michaels Companies, Inc. 13F Filings

At the end of September reporting period, 122 institutional holders increased their position in The Michaels Companies, Inc. (NASDAQ:MIK) by some 15,018,125 shares, 154 decreased positions by 33,815,403 and 38 held positions by 131,548,823. That puts total institutional holdings at 180,382,351 shares, according to SEC filings. The stock grabbed 35 new institutional investments totaling 3,375,109 shares while 48 institutional investors sold out their entire positions totaling 17,619,122 shares.

The Michaels Companies, Inc. (NASDAQ:MIK) Insider Trades

Multiple company employees have indulged in significant insider trading. The Michaels Companies, Inc. disclosed in a document filed with the US Securities and Exchange Commission (SEC) that Chairman & CEO Rubin Carl has sold 220,930 shares of The Michaels Companies, Inc. (MIK) in trading session dated Jan. 26, 2018. These shares are worth $5,998,250 and were traded at $27.15 each. The SEC filing shows that Sonsteby Charles M performed a sale of 80,566 shares. The Vice Chairman disposed these shares by way of transaction on Mar. 28, 2017. The company’s shares were given away at $22.12 per share worth to an income of some $1,782,120 on account of Sonsteby Charles M.

Vice Chairman, Sonsteby Charles M, sold 38,754 common shares of The Michaels Companies, Inc. (MIK) in the open market. In a transaction dated Mar. 09, 2017, the shares were put up for sale at an average price of $22.12, raking in a sum of $857,238. After this sale, 56,744 common shares of MIK are directly owned by the insider, with total stake valued at $906,769.

In the transaction dated Mar. 08, 2017, the great number of shares disposed came courtesy the EVP-Category Management; Pappas Philo disposed a total of 32,020 shares at an average price of $22, amounting to approximately $704,440. The insider now directly owns 41,435 shares worth $662,131.

The Michaels Companies, Inc. (MIK) Analyst Guide

Several analysts have released their opinion on The Michaels Companies, Inc. (NASDAQ:MIK), with 3 analysts believing it is a strong buy. Whereas 5 of them predict the stock is a hold. Also, there are 4 buy, 1 sell and 0 strong sell ratings, collectively assigning a 2.31 average brokerage recommendation.