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

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

Hedge Funds Weigh In On Kirkland’s

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dupree Financial Group LLC lifted its position in shares of Kirkland’s by 28.3% in the 3rd quarter. Dupree Financial Group LLC now owns 31,700 shares of the specialty retailer’s stock worth $69,000 after acquiring an additional 7,000 shares during the period. Geode Capital Management LLC lifted its position in Kirkland’s by 7.7% in the third quarter. Geode Capital Management LLC now owns 132,445 shares of the specialty retailer’s stock worth $290,000 after purchasing an additional 9,431 shares during the period. Wolverine Trading LLC bought a new position in Kirkland’s in the third quarter worth $26,000. Finally, PEAK6 Investments LLC acquired a new stake in Kirkland’s during the first quarter worth $564,000. 15.38% of the stock is currently owned by institutional investors.

Kirkland’s Stock Performance

Shares of Kirkland’s stock opened at $1.75 on Friday. Kirkland’s has a 1 year low of $1.39 and a 1 year high of $3.54. The company’s fifty day simple moving average is $1.87 and its 200-day simple moving average is $1.78.

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Benchmark reiterated a “buy” rating and issued a $7.00 target price on shares of Kirkland’s in a report on Wednesday, October 23rd. Craig Hallum dropped their price objective on Kirkland’s from $2.50 to $2.00 and set a “hold” rating on the stock in a research note on Friday, September 6th.

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.