Michaels Companies, Inc. (MIK): Michael J Veitenheimer , EVP – General Counsel & Sec of Michaels Companies, Inc. sold 85,931 shares on May 3, 2016. The Insider selling transaction was reported by the company on May 4, 2016 to the Securities and Exchange Commission. The shares were sold at $28.61 per share for a total value of $2,458,486.00 , the company said in a SEC Form 4 Filing.
Other Insider transactions have been reported by the company according to SEC Form 4, on May 4, 2016, Stephen Jon Carlotti (EVP – Marketing) sold 40,000 shares at $29.00 per share price.On Apr 29, 2016, Philo Pappas (EVP-Category Management) sold 112,807 shares at $28.79 per share price.Also, On Apr 19, 2016, Carl Rubin (CEO) sold 75,000 shares at $29.50 per share price.On Mar 21, 2016, Charles M Sonsteby (CAO and CFO) sold 185,566 shares at $27.27 per share price.
Michaels Companies Inc: On Wednesday, May 4, 2016 heightened volatility was witnessed in Michaels Companies Inc which led to swings in the share price. The shares opened for trading at $28.71 and hit $29.16 on the upside , eventually ending the session at $29.15, with a gain of 0.83% or 0.24 points. The heightened volatility saw the trading volume jump to 7,93,181 shares. The 52-week high of the share price is $29.56 and the company has a market cap of $6,092 M . The 52-week low of the share price is at $19.46.
Company has been under the radar of several Street Analysts.Michaels Companies Inc is Reiterated by Telsey Advisory Group to Market Perform and the brokerage firm has raised the Price Target to $ 28 from a previous price target of $26 .The Rating was issued on Mar 18, 2016.Michaels Companies Inc is Downgraded by Morgan Stanley to Equal-Weight. Earlier the firm had a rating of Overweight on the company shares. The Rating was issued on Mar 7, 2016.
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.