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

September 16, 2018 - By Mary Markley

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 is positive, 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. Highfields Mngmt LP owns 12.25 million shares. Zurcher Kantonalbank (Zurich Cantonalbank) holds 0% or 7,792 shares in its portfolio. Panagora Asset Mgmt reported 410,374 shares. Morgan Stanley accumulated 278,374 shares. Vanguard Gp owns 9.62 million shares for 0.01% of their portfolio. Sei Invests holds 150,302 shares or 0.01% of its portfolio. Hikari Pwr Ltd stated it has 14,120 shares or 0.03% of all its holdings. Mutual Of America Ltd owns 95,902 shares. Washington Com holds 0% of its portfolio in The Michaels Companies, Inc. (NASDAQ:MIK) for 47 shares. Federated Pa has 129,542 shares. Hawk Ridge Cap Mgmt LP reported 1.87% in The Michaels Companies, Inc. (NASDAQ:MIK). Barclays Public Limited holds 35,727 shares. Utah Retirement stated it has 0.01% in The Michaels Companies, Inc. (NASDAQ:MIK). Tyvor reported 9.21% in The Michaels Companies, Inc. (NASDAQ:MIK). Ny State Common Retirement Fund owns 232,000 shares.

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 1.72 million shares of the consumer services company at the end of 2018Q2, valued at $33.02M, 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 $2.96 billion market cap company. The stock increased 0.88% or $0.15 during the last trading session, reaching $17.26. About 3.14M 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 Ryman Hospitality Ppty Com (NYSE:RHP) by 130,326 shares to 190,843 shares, valued at $15.87M in 2018Q2, according to the filing. It also reduced its holding in National Oilwell Varco Com (NYSE:NOV) by 139,720 shares in the quarter, leaving it with 414,295 shares, and cut its stake in Gentex Corp Com (NASDAQ:GNTX).

More recent The Michaels Companies, Inc. (NASDAQ:MIK) news were published by: Seekingalpha.com which released: “Mixed numbers from The Michaels Companies” on August 30, 2018. Also Seekingalpha.com published the news titled: “The Michaels Companies announces new share repurchase authorization” on September 07, 2018. Seekingalpha.com‘s news article titled: “Michaels: Is The Market Being Too Pessimistic?” with publication date: September 11, 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. On Thursday, March 22 the stock rating was maintained by Stephens with “Buy”. The firm has “Hold” rating given on Friday, March 23 by Loop Capital. The stock of The Michaels Companies, Inc. (NASDAQ:MIK) has “Overweight” rating given on Friday, March 23 by Morgan Stanley. Guggenheim maintained the stock with “Buy” rating in Thursday, March 22 report. The company was maintained on Monday, March 19 by Deutsche Bank. The firm has “Market Perform” rating by Wells Fargo given on Friday, August 31. JP Morgan maintained it with “Overweight” rating and $27 target in Friday, March 23 report. Telsey Advisory maintained the shares of MIK in report on Thursday, March 22 with “Buy” rating. The stock of The Michaels Companies, Inc. (NASDAQ:MIK) has “Hold” rating given on Friday, August 31 by Deutsche Bank. The stock of The Michaels Companies, Inc. (NASDAQ:MIK) earned “Sell” rating by Piper Jaffray on Thursday, March 22.

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

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