The Michaels Companies, Inc. (NASDAQ:MIK) has a beta value of 2.63 and has seen 2,207,889 shares traded in the recent trading session. The company, currently valued at $1.03 Billion, closed the recent trade at $6.96 per share which meant it gained $0.4 on the day or 7.08% during that session. The MIK stock price is -59.48% off its 52-week high price of $11.1 and 85.63% above the 52-week low of $1. If we look at the company’s 10-day average daily trading volume, we find that it stood at 5.65 Million shares traded. The 3-month trading volume is 5.63 Million shares.
The Michaels Companies, Inc. (NASDAQ:MIK) trade information
Sporting 5.85% in the green today, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, Jun 23 when the MIK stock price touched $7.25-5 or saw a rise of 5.72%. Year-to-date, The Michaels Companies, Inc. shares have moved -15.51%, while the 5-day performance has seen it change -1.51%. Over the past 30 days, the shares of The Michaels Companies, Inc. (NASDAQ:MIK) have changed 77.07%. Short interest in the company has seen 24.89 Million shares shorted with days to cover at 4.42.
The Michaels Companies, Inc. (MIK) estimates and forecasts
Figures show that The Michaels Companies, Inc. shares have underperformed across the wider relevant industry. The company’s shares have gained +7.97% over the past 6 months, with this year growth rate of -52.61%, compared to -21.8% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2020 fiscal year revenue. Growth estimates for the current quarter are -157.9% and -30% for the next quarter. Revenue growth from the last financial year stood is estimated to be -5.7%.
8 analysts offering their estimates for the company have set an average revenue estimate of $1.01 Billion for the current quarter. 8 have an estimated revenue figure of $1.21 Billion for the next quarter concluding in October 01, 2020. Year-ago sales stood $1.03 Billion and $1.22 Billion respectively for this quarter and the next, and analysts expect sales will grow by -2.3% for the current quarter and -1.3% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was +11.1% over the past 5 years. Earnings growth for 2020 is a modest -4.8% while over the next 5 years, the company’s earnings are expected to increase by 0%.
The Michaels Companies, Inc. (NASDAQ:MIK)’s Major holders
Insiders own 0.47% of the company shares, while shares held by institutions stand at 117.4% with a share float percentage of 117.96%. Investors are also buoyed by the number of investors in a company, with The Michaels Companies, Inc. having a total of 280 institutions that hold shares in the company. The top two institutional holders are Bain Capital Investors, LLC with over 52.8 Million shares worth more than $85.53 Million. As of March 30, 2020, Bain Capital Investors, LLC held 35.83% of shares outstanding.
The other major institutional holder is Blackstone Group Inc., with the holding of over 20.39 Million shares as of March 30, 2020. The firm’s total holdings are worth over $33.04 Million and represent 13.84% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are iShares Core S&P Smallcap ETF and Fidelity Value Fund. As of March 30, 2020, the former fund manager holds about 3.12% shares in the company for having 4591949 shares of worth $7.44 Million while later fund manager owns 4.18 Million shares of worth $6.77 Million as of March 30, 2020, which makes it owner of about 2.84% of company’s outstanding stock.