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

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Virtu Financial LLC purchased a new stake in shares of Kirkland’s in the 4th quarter valued at $30,000. Geode Capital Management LLC lifted 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 worth $290,000 after purchasing an additional 9,431 shares during the last quarter. Wolverine Trading LLC bought a new stake in Kirkland’s in the third quarter worth $26,000. Dupree Financial Group LLC boosted its position in Kirkland’s by 47.3% during the fourth quarter. Dupree Financial Group LLC now owns 46,700 shares of the specialty retailer’s stock valued at $76,000 after buying an additional 15,000 shares during the period. Finally, Shay Capital LLC grew its stake in shares of Kirkland’s by 118.7% during the fourth quarter. Shay Capital LLC now owns 116,655 shares of the specialty retailer’s stock valued at $189,000 after buying an additional 63,310 shares during the last quarter. 15.38% of the stock is owned by hedge funds and other institutional investors.

Kirkland’s Trading Up 1.6 %

Shares of Kirkland’s stock opened at $1.31 on Thursday. The business’s 50-day moving average price is $1.41 and its 200-day moving average price is $1.66. The firm has a market capitalization of $17.18 million, a PE ratio of -0.82 and a beta of 2.59. Kirkland’s has a 12 month low of $1.10 and a 12 month high of $2.57.

Wall Street Analyst Weigh In

Separately, Craig Hallum upgraded shares of Kirkland’s from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 18th.

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.