322 institutions hold shares in The Michaels Companies Inc. (MIK), with 860.8k shares held by insiders accounting for 0.58% while institutional investors hold 122.66% of the company’s shares. The shares outstanding are 147.40M, and float is at 93.73M with Short Float at 14.78%. Institutions hold 121.94% of the Float.
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The top institutional shareholder in the company is Bain Capital Investors, LLC with over 52.8 million shares valued at $686.91 million. The investor’s holdings represent 35.76% of the MIK Shares outstanding. As of Dec 30, 2020, the second largest holder is Blackrock Inc. with 11.43 million shares valued at $148.72 million to account for 7.74% of the shares outstanding. The other top investors are Contrarius Investment Management Limited which holds 8.98 million shares representing 6.08% and valued at over $116.88 million, while Vanguard Group, Inc. (The) holds 5.54% of the shares totaling 8.18 million with a market value of $106.46 million.
The Michaels Companies Inc. (NASDAQ: MIK) is 13.37% higher on its value in year-to-date trading and has touched a low of $1.00 and a high of $17.90 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The MIK stock was last observed hovering at around $14.88 in the last trading session, with the day’s loss setting it -0.13% off its average median price target of $13.50 for the next 12 months. It is also 41.0% off the consensus price target high of $25.00 offered by 9 analysts, but current levels are -259.76% lower than the price target low of $4.10 for the same period.
Currently trading at $14.75, the stock is -5.30% and 2.88% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.71 million and changing -0.84% at the moment leaves the stock 54.03% off its SMA200. MIK registered 217.89% gain for a year compared to 6-month gain of 51.75%. The firm has a 50-day simple moving average (SMA 50) of $15.46 and a 200-day simple moving average (SMA200) of $11.41.
The stock witnessed a -3.91% loss in the last 1 month and extending the period to 3 months gives it a 57.08%, and is -4.35% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 5.53% over the week and 6.69% over the month.
The Michaels Companies Inc. (MIK) has around 4000 employees, a market worth around $2.16B and $5.08B in sales. Current P/E ratio is 9.89 and Fwd P/E is 6.40. Profit margin for the company is -0.50%. Distance from 52-week low is 1375.00% and -17.60% from its 52-week high. The company has generated returns on investments over the last 12 months (35.00%).
The Michaels Companies Inc. (MIK) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for The Michaels Companies Inc. (MIK) is a “Hold”. 9 analysts offering their recommendations for the stock have an average rating of 3.10, where 4 rate it as a Hold and 0 think it is a “Overweight”. 2 of the analysts rate the stock as a “Buy”. 2 analysts have rated the stock as a Sell or Underperform.
The Michaels Companies Inc. is expected to release its quarterly report on 06/08/2021 and quarterly earnings per share for the current quarter are estimated at $1.41 with sales reaching $1.81B over the same period.The EPS is expected to shrink by -4.80% this year, but quarterly earnings will post 2.00% year-over-year. Quarterly sales are estimated to grow 5.30% in year-over-year returns.
The Michaels Companies Inc. (MIK) Insider Activity
A total of 32 insider transactions have happened at The Michaels Companies Inc. (MIK) in the last six months, with sales accounting for 22 and purchases happening 10 times. The most recent transaction is an insider sale by Blackstone Group Management L., the company’s 10% Owner. SEC filings show that Blackstone Group Management L. sold 10,000,000 shares of the company’s common stock on Oct 01 at a price of $10.02 per share for a total of $100.2 million. Following the sale, the insider now owns 23857.0 shares.
The Michaels Companies Inc. disclosed in a document filed with the SEC on Oct 01 that Blackstone Management Associat (10% Owner) sold a total of 10,000,000 shares of the company’s common stock. The trade occurred on Oct 01 and was made at $10.02 per share for $100.2 million. Following the transaction, the insider now directly holds 23857.0 shares of the MIK stock.
The Michaels Companies Inc. (MIK): Who are the competitors?
The company’s main competitors (and peers) include GameStop Corp. (GME) that is trading 1115.41% up over the past 12 months. Penske Automotive Group Inc. (PAG) is 30.54% up on the 1-year trading charts. Short interest in the company’s stock has fallen -77.85% from the last report on Dec 30, 2020 to stand at a total of 24.65 million short shares sold with a short interest ratio of 2.49.