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

Kirkland’s, Inc. (NASDAQ:KIRK) was the target of unusually large options trading on Wednesday. Traders bought 3,175 put options on the stock. This represents an increase of approximately 1,274% compared to the average daily volume of 231 put options.

Wall Street Analysts Forecast Growth

KIRK has been the topic of several recent analyst reports. Benchmark reissued a “buy” rating and issued a $7.00 target price on shares of Kirkland’s in a report on Wednesday, October 23rd. Craig Hallum lowered their target price 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.

Institutional Trading of Kirkland’s

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position 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 valued at $290,000 after purchasing an additional 9,431 shares during the period. Wolverine Trading LLC acquired a new stake in shares of Kirkland’s during the 3rd quarter worth approximately $26,000. Dupree Financial Group LLC raised its stake in shares of Kirkland’s by 28.3% during the third quarter. Dupree Financial Group LLC now owns 31,700 shares of the specialty retailer’s stock worth $69,000 after buying an additional 7,000 shares during the last quarter. Finally, PEAK6 Investments LLC bought a new stake in shares of Kirkland’s during the first quarter worth approximately $564,000. 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 $1.75 on Friday. The firm has a 50 day simple moving average of $1.87 and a 200 day simple moving average of $1.78. Kirkland’s has a fifty-two week low of $1.39 and a fifty-two week high of $3.54.

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