Investors Purchase High Volume of Put Options on Michaels Companies (MIK)

Michaels Companies Inc (NASDAQ:MIK) saw unusually large options trading activity on Thursday. Stock traders acquired 2,108 put options on the stock. This is an increase of approximately 3,733% compared to the average volume of 55 put options.

Shares of Michaels Companies (MIK) opened at $24.55 on Friday. The company has a debt-to-equity ratio of -1.56, a quick ratio of 0.25 and a current ratio of 1.39. Michaels Companies has a 12 month low of $17.25 and a 12 month high of $24.63. The company has a market cap of $4,510.00, a P/E ratio of 12.46, a price-to-earnings-growth ratio of 1.08 and a beta of 0.92.

Michaels Companies (NASDAQ:MIK) last announced its quarterly earnings data on Thursday, November 30th. The specialty retailer reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. Michaels Companies had a net margin of 7.33% and a negative return on equity of 22.16%. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the business posted $0.40 EPS. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. equities research analysts predict that Michaels Companies will post 2.16 earnings per share for the current year.

MIK has been the subject of several research reports. BidaskClub upgraded shares of Michaels Companies from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. ValuEngine cut shares of Michaels Companies from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Zacks Investment Research upgraded shares of Michaels Companies from a “sell” rating to a “hold” rating in a research note on Thursday, November 2nd. Deutsche Bank cut shares of Michaels Companies from a “buy” rating to a “hold” rating and set a $25.00 price objective for the company. in a research note on Tuesday, December 12th. Finally, Piper Jaffray Companies cut shares of Michaels Companies from a “neutral” rating to an “underweight” rating in a research note on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $23.63.

Several institutional investors and hedge funds have recently bought and sold shares of MIK. Schwab Charles Investment Management Inc. lifted its stake in shares of Michaels Companies by 19.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 434,870 shares of the specialty retailer’s stock valued at $8,054,000 after purchasing an additional 70,414 shares during the period. Rhumbline Advisers lifted its stake in shares of Michaels Companies by 12.2% in the 2nd quarter. Rhumbline Advisers now owns 204,645 shares of the specialty retailer’s stock valued at $3,790,000 after purchasing an additional 22,190 shares during the period. State of Wisconsin Investment Board lifted its stake in shares of Michaels Companies by 36.2% in the 2nd quarter. State of Wisconsin Investment Board now owns 23,045 shares of the specialty retailer’s stock valued at $427,000 after purchasing an additional 6,130 shares during the period. Legal & General Group Plc lifted its stake in shares of Michaels Companies by 22.8% in the 2nd quarter. Legal & General Group Plc now owns 91,506 shares of the specialty retailer’s stock valued at $1,695,000 after purchasing an additional 17,016 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of Michaels Companies by 31.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 48,739 shares of the specialty retailer’s stock valued at $903,000 after purchasing an additional 11,679 shares during the period.

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About 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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