Stone Ridge Asset Management LLC purchased a new stake in Michaels Companies Inc (NASDAQ:MIK) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 103,425 shares of the specialty retailer’s stock, valued at approximately $2,502,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Amundi Pioneer Asset Management Inc. acquired a new stake in Michaels Companies in the 4th quarter valued at $166,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Michaels Companies by 40.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,792 shares of the specialty retailer’s stock valued at $188,000 after purchasing an additional 2,236 shares during the period. Hikari Power Ltd acquired a new stake in Michaels Companies in the 4th quarter valued at $204,000. Cetera Advisor Networks LLC acquired a new stake in Michaels Companies in the 4th quarter valued at $208,000. Finally, State of Alaska Department of Revenue acquired a new stake in Michaels Companies in the 4th quarter valued at $214,000.
Michaels Companies Inc (NASDAQ MIK) opened at $22.20 on Tuesday. The company has a debt-to-equity ratio of -1.56, a quick ratio of 0.25 and a current ratio of 1.39. The stock has a market cap of $4,078.09, a price-to-earnings ratio of 11.33, a price-to-earnings-growth ratio of 0.73 and a beta of 1.14. Michaels Companies Inc has a fifty-two week low of $17.25 and a fifty-two week high of $27.87.
In related news, CEO Carl Rubin sold 220,930 shares of the business’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $27.15, for a total value of $5,998,249.50. Following the transaction, the chief executive officer now directly owns 444,796 shares of the company’s stock, valued at approximately $12,076,211.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is owned by insiders.
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Michaels Companies Company Profile
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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