The Michaels Companies, Inc. (NASDAQ:MIK) was the target of a large growth in short interest in September. As of September 29th, there was short interest totalling 14,545,135 shares, a growth of 12.5% from the September 15th total of 12,931,240 shares. Based on an average daily volume of 2,335,200 shares, the short-interest ratio is currently 6.2 days. Approximately 13.6% of the shares of the stock are short sold.

Shares of The Michaels Companies (NASDAQ MIK) opened at 19.82 on Tuesday. The company’s 50-day moving average price is $21.70 and its 200-day moving average price is $20.66. The Michaels Companies has a one year low of $17.25 and a one year high of $25.57. The stock has a market cap of $3.59 billion, a PE ratio of 10.33 and a beta of 0.92.

The Michaels Companies (NASDAQ:MIK) last released its quarterly earnings data on Thursday, August 24th. The specialty retailer reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.06 billion. The Michaels Companies had a negative return on equity of 22.53% and a net margin of 7.29%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.17 earnings per share. Equities research analysts anticipate that The Michaels Companies will post $2.14 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd bought a new position in shares of The Michaels Companies in the second quarter worth about $771,000. WINTON GROUP Ltd bought a new position in shares of The Michaels Companies in the second quarter worth about $845,000. Public Employees Retirement System of Ohio boosted its stake in shares of The Michaels Companies by 51.7% in the second quarter. Public Employees Retirement System of Ohio now owns 45,874 shares of the specialty retailer’s stock worth $850,000 after acquiring an additional 15,629 shares during the period. Verition Fund Management LLC lifted its position in shares of The Michaels Companies by 240.1% in the second quarter. Verition Fund Management LLC now owns 34,008 shares of the specialty retailer’s stock worth $630,000 after buying an additional 24,008 shares in the last quarter. Finally, California State Teachers Retirement System lifted its position in shares of The Michaels Companies by 22.6% in the second quarter. California State Teachers Retirement System now owns 207,723 shares of the specialty retailer’s stock worth $3,847,000 after buying an additional 38,317 shares in the last quarter. 98.43% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently issued reports on MIK. BidaskClub raised The Michaels Companies from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. Piper Jaffray Companies reissued a “hold” rating and set a $18.00 price objective on shares of The Michaels Companies in a report on Friday, September 29th. Zacks Investment Research raised The Michaels Companies from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. TheStreet raised The Michaels Companies from a “d+” rating to a “c” rating in a report on Monday, June 26th. Finally, Guggenheim reissued a “buy” rating and set a $26.00 price objective on shares of The Michaels Companies in a report on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $24.29.

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About The Michaels Companies

The Michaels Companies, Inc (Michaels) is an arts and crafts specialty retailer in North America. The Company’s segments include Michaels-U.S., Michaels-Canada, Aaron Brothers, Pat Catan’s and Darice. As of January 28, 2017, the Company operated 1,223 Michaels retail stores in 49 states and Canada, with approximately 18,000 average square feet of selling space per store.

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