Highfields Capital Management LP Has Upped Its Michaels Cos INC (MIK) Position by $17.71 Million

June 17, 2018 - By Louis Casey

The Michaels Companies, Inc. (NASDAQ:MIK) LogoInvestors sentiment increased to 1.32 in 2018 Q1. Its up 0.04, from 1.28 in 2017Q4. It is positive, as 26 investors sold MIK shares while 74 reduced holdings. 42 funds opened positions while 90 raised stakes. 190.77 million shares or 1.73% more from 187.52 million shares in 2017Q4 were reported. Campbell & Invest Adviser Lc has invested 0.28% of its portfolio in The Michaels Companies, Inc. (NASDAQ:MIK). 16,934 are held by Magnetar Financial Ltd Liability Company. First Mercantile Tru Commerce reported 0.04% of its portfolio in The Michaels Companies, Inc. (NASDAQ:MIK). 2,961 were accumulated by Point72 Asia (Hong Kong) Ltd. California Employees Retirement Sys reported 198,286 shares. Fincl Bank Of America De, North Carolina-based fund reported 1.23 million shares. Nordea Invest Mgmt holds 0.01% or 118,876 shares in its portfolio. Alphaone Inv Svcs Limited Liability Company reported 4,339 shares. Putnam Invests Ltd Llc has invested 0.01% in The Michaels Companies, Inc. (NASDAQ:MIK). 22,197 are owned by State Of Wisconsin Investment Board. Balyasny Asset Mngmt Limited Liability Com invested in 0.12% or 1.43M shares. State Street Corp reported 0.01% stake. Td Asset Mgmt Inc invested 0.01% of its portfolio in The Michaels Companies, Inc. (NASDAQ:MIK). Bluecrest Cap Mngmt stated it has 0.01% of its portfolio in The Michaels Companies, Inc. (NASDAQ:MIK). Segall Bryant & Hamill Lc holds 30,300 shares.

Jonathon Jacobson increased its stake in Michaels Cos Inc (MIK) by 8.58% based on its latest 2018Q1 regulatory filing with the SEC. Highfields Capital Management Lp bought 932,118 shares as the company’s stock declined 21.77% with the market. The hedge fund run by Jonathon Jacobson held 11.79 million shares of the consumer services company at the end of 2018Q1, valued at $232.38 million, up from 10.86M at the end of the previous reported quarter. Highfields Capital Management Lp who had been investing in Michaels Cos Inc for a number of months, seems to be bullish on the $3.28 billion market cap company. The stock decreased 4.56% or $0.86 during the last trading session, reaching $18. About 7.32 million shares traded or 193.60% up from the average. The Michaels Companies, Inc. (NASDAQ:MIK) has declined 3.71% since June 17, 2017 and is downtrending. It has underperformed by 16.28% the S&P500.

Highfields Capital Management Lp, which manages about $22.71 billion and $11.05 billion US Long portfolio, decreased its stake in Hilton Worldwide Hldgs Inc by 1.50M shares to 6.49M shares, valued at $510.91 million in 2018Q1, according to the filing. It also reduced its holding in Cannae Hldgs Inc by 2.93M shares in the quarter, leaving it with 1.48M shares, and cut its stake in Vereit Inc.

More notable recent The Michaels Companies, Inc. (NASDAQ:MIK) news were published by: Seekingalpha.com which released: “The Michaels Companies’ (MIK) CEO, Chuck Rubin on Q1 2018 Results – Earnings Call Transcript” on June 14, 2018, also Streetinsider.com with their article: “Pre-Open Movers 06/14: (DEST) (ETSY) (TLGT) Higher; (MIK) (TLRD) (AQMS) Lower (more…)” published on June 14, 2018, Investorplace.com published: “Etsy Inc Stock May Very Well Be an Unstoppable Force in the near Term” on June 16, 2018. More interesting news about The Michaels Companies, Inc. (NASDAQ:MIK) were released by: Nasdaq.com and their article: “3 Things to Watch in the Stock Market This Week” published on June 10, 2018 as well as Nasdaq.com‘s news article titled: “What Happened in the Stock Market Today” with publication date: June 14, 2018.

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

Among 11 analysts covering Michaels Companies (NASDAQ:MIK), 8 have Buy rating, 1 Sell and 2 Hold. Therefore 73% are positive. Michaels Companies had 14 analyst reports since January 3, 2018 according to SRatingsIntel. The rating was maintained by Deutsche Bank on Monday, March 19 with “Buy”. The stock has “Outperform” rating by Telsey Advisory Group on Thursday, January 25. The firm has “Overweight” rating by Morgan Stanley given on Friday, March 23. On Thursday, March 22 the stock rating was maintained by Piper Jaffray with “Sell”. Stephens maintained the stock with “Buy” rating in Thursday, March 22 report. Guggenheim maintained the shares of MIK in report on Thursday, March 22 with “Buy” rating. The stock of The Michaels Companies, Inc. (NASDAQ:MIK) has “Buy” rating given on Thursday, March 22 by Telsey Advisory. Guggenheim maintained the shares of MIK in report on Wednesday, January 3 with “Buy” rating. As per Friday, March 23, the company rating was maintained by JP Morgan. The rating was maintained by Loop Capital with “Hold” on Friday, March 23.

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

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