The Michaels Companies (MIK) : During the past 4 weeks, traders have been relatively bearish on The Michaels Companies (MIK), hence the stock is down -6.23% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -0.13% relative to the S&P 500. The 4-week change in the price of the stock is -5.26% and the stock has fallen -0.08% in the past 1 week.
The stock has recorded a 20-day Moving Average of 2.33% and the 50-Day Moving Average is 6.14%. The Michaels Companies (NASDAQ:MIK): stock turned positive on Friday. Though the stock opened at $25.17, the bulls momentum made the stock top out at $25.635 level for the day. The stock recorded a low of $24.93 and closed the trading day at $25.4, in the green by 0.99%. The total traded volume for the day was 680,484. The stock had closed at $25.15 in the previous days trading.
The company Insiders own 1.5% of The Michaels Companies shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -7.52% . During last six month period, the net percent change held by insiders has seen a change of -21.96%. Also, In a research note released to the investors, JP Morgan downgrades its rating on The Michaels Companies (NASDAQ:MIK).The analysts at the brokerage house have a current rating of Neutral on the shares. Earlier, the shares were rated a Overweight by the brokerage firm. The rating by the firm was issued on July 28, 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 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.