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

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Craig Hallum cut their price objective 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. Benchmark reaffirmed a “buy” rating and set a $7.00 target price on shares of Kirkland’s in a research note on Wednesday, October 23rd.

Institutional Trading of Kirkland’s

An institutional investor recently raised its position in Kirkland’s stock. Dupree Financial Group LLC increased its holdings in Kirkland’s, Inc. (NASDAQ:KIRK) by 28.3% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 31,700 shares of the specialty retailer’s stock after buying an additional 7,000 shares during the quarter. Dupree Financial Group LLC owned about 0.24% of Kirkland’s worth $69,000 at the end of the most recent reporting period. 15.38% of the stock is currently owned by institutional investors and hedge funds.

Kirkland’s Price Performance

Shares of Kirkland’s stock opened at $1.67 on Thursday. Kirkland’s has a 1 year low of $1.39 and a 1 year high of $3.54. The firm’s 50-day moving average is $1.87 and its 200 day moving average is $1.80. The stock has a market cap of $21.91 million, a price-to-earnings ratio of -1.11 and a beta of 2.42.

Kirkland’s (NASDAQ:KIRK) last posted 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.

Kirkland’s Company Profile

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.