Michaels Stores INC Com (MIK) Stake Has Upped by Reinhart Partners Inc

September 16, 2018 - By Vernon Prom

The Michaels Companies, Inc. (NASDAQ:MIK) LogoInvestors sentiment increased to 1.33 in Q2 2018. Its up 0.01, from 1.32 in 2018Q1. It improved, as 28 investors sold MIK shares while 73 reduced holdings. 48 funds opened positions while 86 raised stakes. 194.44 million shares or 1.92% more from 190.77 million shares in 2018Q1 were reported. Raymond James & Associates has 0% invested in The Michaels Companies, Inc. (NASDAQ:MIK). Dupont Capital Mngmt invested in 0.02% or 37,704 shares. Cooper Creek Prtnrs Mgmt reported 3.36% in The Michaels Companies, Inc. (NASDAQ:MIK). State Treasurer State Of Michigan, a Michigan-based fund reported 40,900 shares. Da Davidson And Communication owns 17,841 shares for 0.01% of their portfolio. Aqr Capital Ltd Com invested 0.01% of its portfolio in The Michaels Companies, Inc. (NASDAQ:MIK). Arizona State Retirement System holds 0.01% or 77,100 shares in its portfolio. Price T Rowe Associates Inc Md has 12.00 million shares. Td Asset Mngmt has invested 0.01% in The Michaels Companies, Inc. (NASDAQ:MIK). Mutual Of America Capital Limited Co owns 95,902 shares. Moreover, Glenview Cap has 0.46% invested in The Michaels Companies, Inc. (NASDAQ:MIK) for 3.49 million shares. Zebra Capital Mngmt Limited holds 0.37% or 45,495 shares in its portfolio. Riverhead Mngmt Limited Com reported 0.24% in The Michaels Companies, Inc. (NASDAQ:MIK). Tower Research Capital Limited Liability Company (Trc) owns 40,973 shares. Federated Investors Pa invested 0.01% in The Michaels Companies, Inc. (NASDAQ:MIK).

Reinhart Partners Inc increased its stake in Michaels Stores Inc Com (MIK) by 38.72% based on its latest 2018Q2 regulatory filing with the SEC. Reinhart Partners Inc bought 480,819 shares as the company’s stock declined 20.57% while stock markets rallied. The institutional investor held 1.72M shares of the consumer services company at the end of 2018Q2, valued at $33.02 million, up from 1.24 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 bullish on the $2.96B market cap company. The stock increased 0.88% or $0.15 during the last trading session, reaching $17.26. About 3.14 million shares traded or 16.84% up from the average. The Michaels Companies, Inc. (NASDAQ:MIK) has declined 20.20% since September 16, 2017 and is downtrending. It has underperformed by 35.82% the S&P500.

Reinhart Partners Inc, which manages about $4.85 billion and $1.04 billion US Long portfolio, decreased its stake in Encompass Health Corp Com by 98,999 shares to 379,074 shares, valued at $25.67 million in 2018Q2, according to the filing. It also reduced its holding in Ryman Hospitality Ppty Com (NYSE:RHP) by 130,326 shares in the quarter, leaving it with 190,843 shares, and cut its stake in National Oilwell Varco Com (NYSE:NOV).

More recent The Michaels Companies, Inc. (NASDAQ:MIK) news were published by: Seekingalpha.com which released: “The Michaels Companies announces new share repurchase authorization” on September 07, 2018. Also Seekingalpha.com published the news titled: “Michaels: Is The Market Being Too Pessimistic?” on September 11, 2018. Seekingalpha.com‘s news article titled: “Mixed numbers from The Michaels Companies” with publication date: August 30, 2018 was also an interesting one.

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

Among 9 analysts covering Michaels Companies (NASDAQ:MIK), 5 have Buy rating, 1 Sell and 3 Hold. Therefore 56% are positive. Michaels Companies had 11 analyst reports since March 19, 2018 according to SRatingsIntel. The firm has “Buy” rating given on Monday, March 19 by Deutsche Bank. The stock has “Hold” rating by Deutsche Bank on Friday, August 31. Piper Jaffray maintained it with “Sell” rating and $1500 target in Thursday, March 22 report. The rating was maintained by Stephens with “Buy” on Thursday, March 22. The stock of The Michaels Companies, Inc. (NASDAQ:MIK) has “Hold” rating given on Friday, March 23 by Loop Capital. On Friday, March 23 the stock rating was maintained by JP Morgan with “Overweight”. The stock has “Overweight” rating by Morgan Stanley on Friday, March 23. The firm has “Market Perform” rating by Wells Fargo given on Friday, August 31. The stock of The Michaels Companies, Inc. (NASDAQ:MIK) has “Buy” rating given on Thursday, March 22 by Guggenheim. Telsey Advisory maintained the stock with “Buy” rating in Thursday, March 22 report.

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

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