Michaels Stores INC Com (MIK) Holder Reinhart Partners INC Lowered Its Stake as Market Value Declined

March 17, 2018 - By Ellis Scott

Investors sentiment decreased to 1.36 in Q3 2017. Its down 0.45, from 1.81 in 2017Q2. It dived, as 27 investors sold MIK shares while 63 reduced holdings. 42 funds opened positions while 80 raised stakes. 187.41 million shares or 1.58% less from 190.43 million shares in 2017Q2 were reported. 135,683 were reported by Rafferty Asset Limited Co. Employees Retirement Association Of Colorado stated it has 3,637 shares or 0% of all its holdings. Schroder Invest Gp, Maine-based fund reported 425,193 shares. Cipher Capital Lp reported 101,103 shares stake. Panagora Asset Management owns 417,919 shares. Hawk Ridge Cap Management LP reported 350,300 shares stake. Cubist Systematic Strategies Lc invested in 0.05% or 38,254 shares. Cadence Capital Mngmt Ltd has invested 0.08% in The Michaels Companies, Inc. (NASDAQ:MIK). Winfield Assoc has invested 0% in The Michaels Companies, Inc. (NASDAQ:MIK). Citigroup stated it has 129,976 shares. Gsa Cap Llp has 53,046 shares for 0.08% of their portfolio. Cantab Prtn Ltd Liability Partnership accumulated 41,804 shares. Gargoyle Inv Advisor Limited Liability Com holds 15,800 shares or 0.12% of its portfolio. California State Teachers Retirement Systems accumulated 187,907 shares or 0.01% of the stock. Geode Mngmt Ltd Liability Com holds 1.01M shares or 0.01% of its portfolio.

Reinhart Partners Inc decreased its stake in Michaels Stores Inc Com (MIK) by 8.83% based on its latest 2017Q3 regulatory filing with the SEC. Reinhart Partners Inc sold 142,935 shares as the company’s stock declined 4.62% while stock markets rallied. The institutional investor held 1.48M shares of the consumer services company at the end of 2017Q3, valued at $31.69M, down from 1.62 million at the end of the previous reported quarter. Reinhart Partners Inc who had been investing in Michaels Stores Inc Com for a number of months, seems to be less bullish one the $3.99B market cap company. The stock decreased 0.14% or $0.03 during the last trading session, reaching $22. About 1.63 million shares traded. The Michaels Companies, Inc. (NASDAQ:MIK) has declined 29.62% since March 17, 2017 and is downtrending. It has underperformed by 46.32% the S&P500.

Reinhart Partners Inc, which manages about $4.85 billion and $947.17M US Long portfolio, upped its stake in Envision Healthcare Co Com by 235,355 shares to 625,713 shares, valued at $28.13 million in 2017Q3, according to the filing. It also increased its holding in Amerco Com (NASDAQ:UHAL) by 10,342 shares in the quarter, for a total of 61,495 shares, and has risen its stake in Interpublic Group (NYSE:IPG).

Analysts await The Michaels Companies, Inc. (NASDAQ:MIK) to report earnings on March, 22 before the open. They expect $1.21 earnings per share, up 26.04 % or $0.25 from last year’s $0.96 per share. MIK’s profit will be $219.29 million for 4.55 P/E if the $1.21 EPS becomes a reality. After $0.44 actual earnings per share reported by The Michaels Companies, Inc. for the previous quarter, Wall Street now forecasts 175.00 % EPS growth.

The Michaels Companies, Inc. (NASDAQ:MIK) Ratings Coverage

Among 16 analysts covering Michaels Companies Inc (NASDAQ:MIK), 10 have Buy rating, 2 Sell and 4 Hold. Therefore 63% are positive. Michaels Companies Inc has $32 highest and $16.0 lowest target. $26.42’s average target is 20.09% above currents $22 stock price. Michaels Companies Inc had 35 analyst reports since August 25, 2015 according to SRatingsIntel. The stock of The Michaels Companies, Inc. (NASDAQ:MIK) has “Neutral” rating given on Friday, December 4 by Macquarie Research. PiperJaffray downgraded The Michaels Companies, Inc. (NASDAQ:MIK) on Friday, October 27 to “Underweight” rating. The rating was maintained by Piper Jaffray on Friday, September 29 with “Hold”. The firm has “Buy” rating by Suntrust Robinson given on Tuesday, August 25. The firm has “Equal-Weight” rating given on Monday, March 7 by Morgan Stanley. The rating was downgraded by Raymond James to “Market Perform” on Wednesday, December 7. Goldman Sachs downgraded The Michaels Companies, Inc. (NASDAQ:MIK) rating on Friday, May 6. Goldman Sachs has “Neutral” rating and $30 target. The firm earned “Sell” rating on Monday, March 5 by Piper Jaffray. The stock has “Buy” rating by Guggenheim on Wednesday, January 3. The company was upgraded on Thursday, January 25 by Telsey Advisory Group.

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