SEC Filing: As Michaels Cos INC (MIK) Shares Declined, Shareholder Bain Capital Investors LLC Has Cut Its Holding by $132.00 Million

SEC Filing: As Michaels Cos INC (MIK) Shares Declined, Shareholder Bain Capital Investors LLC Has Cut Its Holding by $132.00 Million

Bain Capital Investors Llc decreased its stake in Michaels Cos Inc (MIK) by 9.43% based on its latest 2016Q3 regulatory filing with the SEC. Bain Capital Investors Llc sold 5.50 million shares as the company’s stock declined 13.74% while stock markets rallied. The institutional investor held 52.80M shares of the consumer services company at the end of 2016Q3, valued at $1.28 billion, down from 58.30 million at the end of the previous reported quarter. Bain Capital Investors Llc who had been investing in Michaels Cos Inc for a number of months, seems to be less bullish one the $4.25 billion market cap company. The stock is down 0.78% or $0.16 after the negative news, hitting $20.36 per share. About 1.15M shares traded hands. Michaels Companies Inc (NASDAQ:MIK) has declined 24.74% since June 7, 2016 and is downtrending. It has underperformed by 32.16% the S&P500.

Insitutional Activity: The institutional sentiment increased to 1.78 in Q3 2016. Its up 0.54, from 1.24 in 2016Q2. The ratio improved, as 25 funds sold all MIK shares owned while 40 reduced positions. 31 funds bought stakes while 85 increased positions. They now own 206.08 million shares or 0.41% less from 206.93 million shares in 2016Q2. Secor Cap Advsr Ltd Partnership, a New York-based fund reported 158,745 shares. Jefferies Grp Incorporated Lc has 19,632 shares for 0% of their US portfolio. Rhumbline Advisers holds 0.01% or 83,826 shares in its portfolio. Bankshares Of Ny Mellon Corp accumulated 0% or 511,658 shares. State Street last reported 0% of its portfolio in the stock. Marshall Wace Llp reported 1.04 million shares or 0.18% of all its holdings. The Maryland-based Calvert Mngmt has invested 0.13% in Michaels Companies Inc (NASDAQ:MIK). Ubs Asset Mgmt Americas has invested 0% of its portfolio in Michaels Companies Inc (NASDAQ:MIK). Suntrust Banks holds 10,677 shares or 0% of its portfolio. First Mercantile holds 26,420 shares or 0.09% of its portfolio. Segall Bryant & Hamill Ltd Co last reported 0.34% of its portfolio in the stock. Lord Abbett & Com has invested 0.02% of its portfolio in Michaels Companies Inc (NASDAQ:MIK). Citadel Advsrs Lc accumulated 1.74M shares or 0.04% of the stock. Vanguard Gru last reported 0.01% of its portfolio in the stock. Moreover, Cubist Systematic Strategies Lc has 0.09% invested in Michaels Companies Inc (NASDAQ:MIK) for 55,740 shares.

Another recent and important Michaels Companies Inc (NASDAQ:MIK) news was published by which published an article titled: “Market Cap Of The Michaels Companies, Inc. (NASDAQ:MIK) At $4.21B” on January 08, 2017.

According to Zacks Investment Research, “The Michaels Companies, Inc. is a specialty retailer of arts and crafts. The Company’s stores offer stock-keeping units in arts, crafts, scrapbooking, floral, framing, home décor, seasonal offerings, and children’s hobbies. It produces 11 exclusive private brands including Recollections(R), Studio Decor(R), Bead Landing(R), Creatology(R), Ashland(R), Celebrate It(R), Art Minds(R), Artist’s Loft(R), Craft Smart(R), Loops & Threads(R) and Imagin8(R). The Michaels Companies, Inc. is based in Irving, Texas.”

Michaels Companies Inc (NASDAQ:MIK) Ratings Coverage

Out of 10 analysts covering Michaels Companies Inc (NASDAQ:MIK), 3 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 30% are positive. Michaels Companies Inc has been the topic of 17 analyst reports since August 25, 2015 according to StockzIntelligence Inc. The rating was maintained by Telsey Advisory Group with “Market Perform” on Friday, December 4. Bank of America downgraded the shares of MIK in a report on Friday, November 4 to “Neutral” rating. The company was downgraded on Tuesday, July 19 by JP Morgan. The firm has “Neutral” rating given on Friday, May 6 by Goldman Sachs. The firm has “Buy” rating by Suntrust Robinson given on Tuesday, August 25. The firm has “Buy” rating given on Friday, March 18 by Goldman Sachs. The rating was downgraded by Raymond James on Wednesday, December 7 to “Market Perform”. The firm earned “Buy” rating on Wednesday, December 7 by Deutsche Bank. On Thursday, January 21 the stock rating was upgraded by Goldman Sachs to “Buy”. Macquarie Research maintained Michaels Companies Inc (NASDAQ:MIK) on Friday, December 4 with “Neutral” rating.

MIK Company Profile

The Michaels Companies, Inc., incorporated on July 17, 2013, is North America’s specialty well-known provider of arts, crafts, framing, floral, wall decor, and seasonal merchandise for the hobbyist and do-it-yourself home decorator. As of February 27, 2016, the Company owned and operated more than 1,340 stores in 49 states and Canada under the brands Michaels, Aaron Brothers and Pat Catan’s. The Michaels Companies, Inc. also owns Artistree, a maker of custom and specialty framing merchandise, and Darice, a premier wholesale distributor in the gift and decor industry.

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