Kirkland’s Target of Unusually Large Options Trading (NASDAQ:KIRK)

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Craig Hallum decreased their target price on shares of 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 restated a “buy” rating and set a $7.00 price objective on shares of Kirkland’s in a report on Wednesday, October 23rd.

Kirkland’s Price Performance

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 12 month low of $1.39 and a 12 month high of $3.54. The company has a 50-day moving average of $1.87 and a 200-day moving average of $1.78.

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

Institutional Trading of Kirkland’s

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC increased 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 acquiring an additional 9,431 shares during the last quarter. Wolverine Trading LLC acquired a new position in shares of Kirkland’s in the 3rd quarter valued at about $26,000. Dupree Financial Group LLC grew its holdings in shares of Kirkland’s by 28.3% during the 3rd 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 during the period. Finally, PEAK6 Investments LLC acquired a new stake in Kirkland’s during the 1st quarter worth approximately $564,000. 15.38% of the stock is currently owned by institutional investors and hedge funds.

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.