The Michaels Companies (NASDAQ:MIK) : Traders are bullish on The Michaels Companies (NASDAQ:MIK) as it has outperformed the S&P 500 by a wide margin of 4.53% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.1%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.39% in the last 1 week, and is up 6.22% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The company shares have rallied 8.43% from its 1 Year high price. On Jun 6, 2016, the shares registered one year high at $31.37 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $27.97 and the 200 Day Moving Average price is recorded at $25.64.
The stock has recorded a 20-day Moving Average of 5.1% and the 50-Day Moving Average is 1.9%.
The Michaels Companies (NASDAQ:MIK): stock turned positive on Friday. Though the stock opened at $28.49, the bulls momentum made the stock top out at $29.24 level for the day. The stock recorded a low of $28.37 and closed the trading day at $28.69, in the green by 1.59%. The total traded volume for the day was 994,014. The stock had closed at $28.24 in the previous days trading.
In an insider trading activity,The director officer (Chairman & CEO) of Michaels Companies, Inc., Rubin Carl sold 150,000 shares at $30.29 on June 6, 2016. The Insider selling transaction had a total value worth of $4,543,500. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
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 35,000 stock-keeping units (SKUs) in arts, crafts, scrapbooking, floral, framing, home decor, seasonal offerings and childrens 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 Companys subsidiaries include Aaron Brothers, Inc., Artistree of Canada, ULC, and Michaels Stores Procurement Company.