The SVP – CAO & Controller of Michaels Companies is Exercising Options

By Carrie Williams

Yesterday it was reported that the SVP – CAO & Controller of Michaels Companies (MIKResearch Report), Jim Sullivan, exercised options to sell 11,437 MIK shares at $13.72 a share, for a total transaction value of $251.2K.

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Based on Michaels Companies’ latest earnings report for the quarter ending January 31, the company posted quarterly revenue of $1.92 billion and quarterly net profit of $255 million. In comparison, last year the company earned revenue of $1.72 billion and had a net profit of $182 million. The company has a one-year high of $22.42 and a one-year low of $1.86. MIK’s market cap is $3.11 billion and the company has a P/E ratio of 11.20.

Based on 3 analyst ratings, the analyst consensus is Hold with an average price target of $22.00, reflecting a -0.2% downside.

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Michaels Cos., Inc. is an arts and crafts specialty retailer, which engages in the provision of materials, project ideas, and education for creative activities. It operates through the following segments: Michaels-U.S., Michaels-Canada, Aaron Brothers, Pat Catan’s, and Darice. The company was founded by Michael Dupey in 1973 and is headquartered in Irving, TX.