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

Kirkland’s, Inc. (NASDAQ:KIRK) was the recipient of some unusual options trading activity on Wednesday. Stock traders bought 3,175 put options on the stock. This is an increase of approximately 1,274% compared to the average daily volume of 231 put options.

Institutional Trading of Kirkland’s

A hedge fund recently raised its stake in Kirkland’s stock. Dupree Financial Group LLC raised its stake in shares of Kirkland’s, Inc. (NASDAQ:KIRK) by 28.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,700 shares of the specialty retailer’s stock after purchasing an additional 7,000 shares during the period. Dupree Financial Group LLC owned 0.24% of Kirkland’s worth $69,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 15.38% of the company’s stock.

Wall Street Analyst Weigh In

KIRK has been the topic of several analyst reports. Craig Hallum dropped their price target on shares of Kirkland’s from $2.50 to $2.00 and set a “hold” rating on the stock in a research note on Friday, September 6th. Benchmark restated a “buy” rating and set a $7.00 target price on shares of Kirkland’s in a research note on Wednesday, October 23rd.

Kirkland’s Stock Down 0.9 %

KIRK stock traded down $0.02 during mid-day trading on Thursday, hitting $1.66. The company had a trading volume of 14,003 shares, compared to its average volume of 149,048. The company has a 50-day moving average price of $1.87 and a 200 day moving average price of $1.80. Kirkland’s has a 12-month low of $1.39 and a 12-month high of $3.54. The company has a market capitalization of $21.71 million, a price-to-earnings ratio of -1.11 and a beta of 2.42.

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

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.