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

Kirkland’s, Inc. (NASDAQ:KIRK) was the target of unusually large options trading activity on Wednesday. Stock investors purchased 9,808 call options on the stock. This is an increase of approximately 1,683% compared to the typical daily volume of 550 call options.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wolverine Trading LLC acquired a new stake in shares of Kirkland’s in the 3rd quarter valued at $26,000. Dupree Financial Group LLC increased its holdings in Kirkland’s by 28.3% in the third quarter. Dupree Financial Group LLC now owns 31,700 shares of the specialty retailer’s stock valued at $69,000 after buying an additional 7,000 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake 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 valued at $290,000 after buying an additional 9,431 shares in the last quarter. Institutional investors and hedge funds own 15.38% of the company’s stock.

Kirkland’s Stock Performance

Shares of Kirkland’s stock opened at $1.73 on Thursday. The business has a 50-day simple moving average of $1.76 and a 200-day simple moving average of $1.75. Kirkland’s has a one year low of $1.39 and a one year high of $3.37. The company has a market cap of $22.69 million, a PE ratio of -1.08 and a beta of 2.42.

Analysts Set New Price Targets

KIRK has been the subject of several recent research reports. Benchmark reissued a “buy” rating and issued a $7.00 price objective on shares of Kirkland’s in a research note on Wednesday, October 23rd. Craig Hallum dropped their price target on shares of Kirkland’s from $2.50 to $2.00 and set a “hold” rating for the company in a research note on Friday, September 6th.

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.