Michaels Companies, Inc. (MIK): Carl Rubin , CEO of Michaels Companies, Inc. sold 75,000 shares on Apr 18, 2016. The Insider selling transaction was reported by the company on Apr 19, 2016 to the Securities and Exchange Commission. The shares were sold at $29.50 per share for a total value of $2,212,500.00 , the company said in a SEC Form 4 Filing.
Other Insider transactions have been reported by the company according to SEC Form 4, on Mar 21, 2016, Charles M Sonsteby (CAO and CFO) sold 185,566 shares at $27.27 per share price.On Sep 17, 2015, Michael J Veitenheimer (EVP-General Counsel & Sec.) sold 50,000 shares at $26.19 per share price.Also, On Sep 3, 2015, Philo Pappas (EVP-Merchandising) sold 2,758 shares at $25.48 per share price.On Sep 1, 2015, Thomas C Decaro (EVP-Supply Chain) sold 60,003 shares at $25.84 per share price.
Michaels Companies Inc: On Monday, Apr 18, 2016 heightened volatility was witnessed in Michaels Companies Inc which led to swings in the share price. The shares opened for trading at $28.76 and hit $29.56 on the upside , eventually ending the session at $29.16, with a gain of 0.24% or 0.07 points. The heightened volatility saw the trading volume jump to 14,61,144 shares. The 52-week high of the share price is $29.56 and the company has a market cap of $6,094 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.Michaels Companies Inc is Upgraded by Goldman to Buy. Earlier the firm had a rating of Neutral on the company shares. The Rating was issued on Jan 21, 2016.
Currently the company Insiders own 1.6% of Michaels Companies Inc shares according to the proxy statements.
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.