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

Kirkland’s, Inc. (NASDAQ:KIRK) saw unusually large options trading activity on Wednesday. Traders purchased 3,175 put options on the stock. This represents an increase of 1,274% compared to the average volume of 231 put options.

Institutional Investors Weigh In On Kirkland’s

Institutional investors and hedge funds have recently bought and sold shares of the business. Wolverine Trading LLC bought a new position in shares of Kirkland’s during the 3rd quarter worth about $26,000. Dupree Financial Group LLC raised its position in 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 purchasing an additional 7,000 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Kirkland’s by 7.7% during the third 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 period. Institutional investors own 15.38% of the company’s stock.

Kirkland’s Trading Down 1.2 %

Shares of NASDAQ:KIRK opened at $1.65 on Friday. The firm has a market capitalization of $21.64 million, a PE ratio of -1.03 and a beta of 2.46. Kirkland’s has a 1-year low of $1.39 and a 1-year high of $3.30. The business’s 50 day moving average is $1.71 and its 200-day moving average is $1.73.

Analyst Upgrades and Downgrades

Separately, Benchmark reaffirmed a “buy” rating and set a $7.00 price objective on shares of Kirkland’s in a research report on Wednesday, October 23rd.

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.