Michaels Companies, Inc. (MIK) Files Form 4 Insider Selling : Carl Rubin Sells 100,000 Shares

Michaels Companies, Inc. (MIK): Carl Rubin , Chairman & CEO of Michaels Companies, Inc. sold 100,000 shares on Jun 2, 2016. The Insider selling transaction was reported by the company on Jun 6, 2016 to the Securities and Exchange Commission. The shares were sold at $30.00 per share for a total value of $3,000,000.00 , 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, Theodore J. Bachmeier (EVP – Store Operations) sold 40,000 shares at $29.00 per share price.On May 4, 2016, Michael J Veitenheimer (EVP – General Counsel & Sec) sold 85,931 shares at $28.61 per share price.Also, 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.

Michaels Companies Inc: On Friday, Jun 3, 2016 heightened volatility was witnessed in Michaels Companies Inc which led to swings in the share price. The shares opened for trading at $30.25 and hit $30.475 on the upside , eventually ending the session at $30.41, with a gain of 0.80% or 0.24 points. The heightened volatility saw the trading volume jump to 11,97,725 shares. The 52-week high of the share price is $30.475 and the company has a market cap of $6,355 M . The 52-week low of the share price is at $19.46.

Michaels Companies Inc Money Flow Index Chart

Company has been under the radar of several Street Analysts.Michaels Companies Inc is Downgraded by Goldman to Neutral. Earlier the firm had a rating of Buy on the company shares. The Rating was issued on May 6, 2016.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.

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.

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Michaels Companies Inc - Is it time to Sell?

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