Maverick Capital Ltd. purchased a new position in shares of The Michaels Companies, Inc. (NASDAQ:MIK) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 292,570 shares of the specialty retailer’s stock, valued at approximately $5,418,000. Maverick Capital Ltd. owned 0.15% of The Michaels Companies at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of The Michaels Companies by 6.9% during the 1st quarter. Vanguard Group Inc. now owns 9,477,211 shares of the specialty retailer’s stock valued at $212,194,000 after purchasing an additional 615,723 shares during the period. BlackRock Inc. boosted its position in shares of The Michaels Companies by 7.1% in the second quarter. BlackRock Inc. now owns 8,752,674 shares of the specialty retailer’s stock worth $162,099,000 after buying an additional 583,585 shares during the period. Alliancebernstein L.P. boosted its position in shares of The Michaels Companies by 52.1% in the second quarter. Alliancebernstein L.P. now owns 6,090,904 shares of the specialty retailer’s stock worth $112,804,000 after buying an additional 2,086,817 shares during the period. State Street Corp boosted its position in shares of The Michaels Companies by 86.7% in the first quarter. State Street Corp now owns 5,085,287 shares of the specialty retailer’s stock worth $113,853,000 after buying an additional 2,361,331 shares during the period. Finally, William Blair Investment Management LLC boosted its position in shares of The Michaels Companies by 3.6% in the second quarter. William Blair Investment Management LLC now owns 4,392,319 shares of the specialty retailer’s stock worth $81,346,000 after buying an additional 152,308 shares during the period. Institutional investors and hedge funds own 98.43% of the company’s stock.

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The Michaels Companies, Inc. (MIK) traded down 0.25% during trading on Friday, hitting $20.15. 2,746,196 shares of the stock were exchanged. The Michaels Companies, Inc. has a 52 week low of $17.25 and a 52 week high of $25.57. The firm has a market cap of $3.65 billion, a PE ratio of 10.51 and a beta of 0.91. The firm’s 50-day moving average is $21.70 and its 200 day moving average is $20.68.

The Michaels Companies (NASDAQ:MIK) last posted its earnings results on Thursday, August 24th. The specialty retailer reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.03. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.06 billion. The Michaels Companies had a net margin of 7.29% and a negative return on equity of 22.53%. The Michaels Companies’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.17 EPS. Analysts expect that The Michaels Companies, Inc. will post $2.14 earnings per share for the current fiscal year.

A number of analysts recently issued reports on MIK shares. Bank of America Corporation reissued a “buy” rating and set a $29.00 price objective on shares of The Michaels Companies in a research report on Tuesday, September 5th. ValuEngine lowered The Michaels Companies from a “buy” rating to a “hold” rating in a report on Friday, September 1st. BidaskClub upgraded The Michaels Companies from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. Piper Jaffray Companies set a $18.00 price objective on The Michaels Companies and gave the stock a “hold” rating in a research note on Friday, August 25th. Finally, Zacks Investment Research upgraded The Michaels Companies from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. The Michaels Companies has a consensus rating of “Hold” and an average target price of $24.29.

The 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.

Institutional Ownership by Quarter for The Michaels Companies (NASDAQ:MIK)

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