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

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on KIRK. Benchmark reissued a “buy” rating and set a $7.00 price objective on shares of Kirkland’s in a report on Wednesday, October 23rd. Craig Hallum decreased their price target on Kirkland’s from $2.50 to $2.00 and set a “hold” rating for the company in a research note on Friday, September 6th.

Hedge Funds Weigh In On Kirkland’s

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wolverine Trading LLC acquired a new stake in shares of Kirkland’s in the third quarter valued at approximately $26,000. Dupree Financial Group LLC increased its position 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 during the period. Finally, PEAK6 Investments LLC acquired a new position in Kirkland’s during the 1st quarter worth $564,000. 15.38% of the stock is currently owned by institutional investors and hedge funds.

Kirkland’s Stock Performance

KIRK traded down $0.03 during trading hours on Friday, hitting $1.59. 118,462 shares of the stock were exchanged, compared to its average volume of 149,584. The stock has a 50-day simple moving average of $1.88 and a 200-day simple moving average of $1.80. Kirkland’s has a 12 month low of $1.39 and a 12 month high of $3.54.

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