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

Kirkland’s, Inc. (NASDAQ:KIRK) was the target of unusually large options trading on Wednesday. Traders purchased 3,175 put options on the company. This is an increase of 1,274% compared to the typical volume of 231 put options.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. PEAK6 Investments LLC bought a new position in Kirkland’s during the 1st quarter worth $564,000. Wolverine Trading LLC acquired a new stake in Kirkland’s during the third quarter worth approximately $26,000. Geode Capital Management LLC increased its stake 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 acquiring an additional 9,431 shares during the period. Finally, Dupree Financial Group LLC raised its holdings in Kirkland’s by 28.3% in the 3rd quarter. Dupree Financial Group LLC now owns 31,700 shares of the specialty retailer’s stock valued at $69,000 after acquiring an additional 7,000 shares in the last quarter. Institutional investors and hedge funds own 15.38% of the company’s stock.

Kirkland’s Stock Up 2.3 %

NASDAQ:KIRK opened at $1.75 on Thursday. The company has a market cap of $22.96 million, a P/E ratio of -1.16 and a beta of 2.42. Kirkland’s has a twelve month low of $1.39 and a twelve month high of $3.54. The business has a 50 day moving average price of $1.87 and a two-hundred day moving average price of $1.78.

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on KIRK shares. Benchmark reaffirmed a “buy” rating and issued a $7.00 price target on shares of Kirkland’s in a research note on Wednesday, October 23rd. Craig Hallum dropped their price objective on shares of Kirkland’s from $2.50 to $2.00 and set a “hold” rating on the stock in a report on Friday, September 6th.

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.