Tyvor Capital buys $19,357,061 stake in Michaels Companies Inc (MIK)

Michaels Companies Inc (MIK) : Tyvor Capital scooped up 684,089 additional shares in Michaels Companies Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 762,089 shares of Michaels Companies Inc which is valued at $19,357,061.Michaels Companies Inc makes up approximately 5.05% of Tyvor Capital’s portfolio.

Other Hedge Funds, Including , Panagora Asset Management Inc reduced its stake in MIK by selling 21,597 shares or 42.12% in the most recent quarter. The Hedge Fund company now holds 29,676 shares of MIK which is valued at $753,770. Quadrature Capital Ltd sold out all of its stake in MIK during the most recent quarter. The investment firm sold 100,088 shares of MIK which is valued $2,542,235.Vanguard Group Inc boosted its stake in MIK in the latest quarter, The investment management firm added 248,720 additional shares and now holds a total of 7,195,028 shares of Michaels Companies Inc which is valued at $182,753,711. Michaels Companies Inc makes up approx 0.01% of Vanguard Group Inc’s portfolio.New York State Common Retirement Fund boosted its stake in MIK in the latest quarter, The investment management firm added 156,924 additional shares and now holds a total of 306,441 shares of Michaels Companies Inc which is valued at $7,783,601. Michaels Companies Inc makes up approx 0.01% of New York State Common Retirement Fund’s portfolio.Public Employees Retirement Association Of Colorado boosted its stake in MIK in the latest quarter, The investment management firm added 972 additional shares and now holds a total of 2,983 shares of Michaels Companies Inc which is valued at $78,632.

Michaels Companies Inc opened for trading at $23.94 and hit $24.2 on the upside on Thursday, eventually ending the session at $24.19, with a gain of 0.96% or 0.23 points. The heightened volatility saw the trading volume jump to 12,78,961 shares. Company has a market cap of $4,979 M.

On the company’s financial health, Michaels Companies Inc reported $0.17 EPS for the quarter, based on the information available during the earnings call on Aug 25, 2016. Analyst had a consensus estimate of $0.17. The company had revenue of $1060.40 million for the quarter, compared to analysts expectations of $1052.49 million. The company’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 EPS.

Many Wall Street Analysts have commented on Michaels Companies Inc. Michaels Companies Inc was Upgraded by Credit Suisse to ” Outperform” on Sep 6, 2016. Shares were Downgraded by JP Morgan on Jul 19, 2016 to ” Neutral” and Lowered the Price Target to $ 30 from a previous price target of $33 .

The Michaels Companies Inc. is an arts and crafts specialty retailer in North America. The Company owns and operates a chain of retail stores in 49 states and Canada featuring arts crafts framing floral home decor and seasonal merchandise for the hobbyist and do-it-yourself home decorator. The Company also operates a vertically integrated custom framing business. The Company provides materials project ideas and education for creative activities. The Company has approximately 35000 stock-keeping units (SKUs) in arts crafts scrapbooking floral framing home decor seasonal offerings and children’s hobbies. It has developed an online platform which promotes social networking and includes tips project ideas marketing content and information on upcoming store events. The Company’s subsidiaries include Aaron Brothers Inc. Artistree of Canada ULC and Michaels Stores Procurement Company.

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