Stock Traders Buy Large Volume of Put Options on Kirkland’s (NASDAQ:KIRK)

Kirkland’s, Inc. (NASDAQ:KIRK) was the recipient of some unusual options trading on Wednesday. Investors purchased 3,175 put options on the stock. This represents an increase of 1,274% compared to the typical volume of 231 put options.

Analyst Ratings Changes

Several research firms have commented on KIRK. Benchmark reissued a “buy” rating and issued a $7.00 price objective on shares of Kirkland’s in a research report on Wednesday, October 23rd. Craig Hallum reduced their price target on Kirkland’s from $2.50 to $2.00 and set a “hold” rating on the stock in a research report on Friday, September 6th.

Kirkland’s Trading Up 2.3 %

Shares of KIRK stock opened at $1.75 on Thursday. Kirkland’s has a twelve month low of $1.39 and a twelve month high of $3.54. The company has a market capitalization of $22.96 million, a PE ratio of -1.16 and a beta of 2.42. The firm has a fifty day simple moving average of $1.87 and a 200-day simple moving average of $1.78.

Kirkland’s (NASDAQ:KIRK) last posted its quarterly earnings data on Thursday, September 5th. The specialty retailer reported ($1.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.31) by $0.20. The firm had revenue of $86.29 million during the quarter.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of KIRK. Geode Capital Management LLC increased its holdings in Kirkland’s by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 132,445 shares of the specialty retailer’s stock worth $290,000 after purchasing an additional 9,431 shares during the last quarter. Wolverine Trading LLC bought a new stake in shares of Kirkland’s in the third quarter worth $26,000. Dupree Financial Group LLC increased its stake in shares of Kirkland’s by 28.3% in the third quarter. Dupree Financial Group LLC now owns 31,700 shares of the specialty retailer’s stock worth $69,000 after buying an additional 7,000 shares during the last quarter. Finally, PEAK6 Investments LLC acquired a new stake in Kirkland’s in the first quarter valued at $564,000. Hedge funds and other institutional investors own 15.38% of the company’s stock.

About Kirkland’s

Kirkland’s, Inc operates as a specialty retailer of home décor and furnishings in the United States. Its stores provide various merchandise, including holiday décor, furniture, textiles, ornamental wall décor, decorative accessories, art, mirrors, home fragrance, lighting, floral, housewares, outdoor, and gifts.