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

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

Kirkland’s Stock Performance

Shares of NASDAQ KIRK opened at $1.57 on Thursday. The company has a market capitalization of $20.60 million, a PE ratio of -0.98 and a beta of 2.46. The company’s fifty day moving average price is $1.70 and its 200 day moving average price is $1.73. Kirkland’s has a 1 year low of $1.39 and a 1 year high of $3.30.

Kirkland’s (NASDAQ:KIRK) last issued its quarterly earnings data on Friday, December 6th. The specialty retailer reported ($0.29) earnings per share for the quarter.

Hedge Funds Weigh In On Kirkland’s

Hedge funds have recently bought and sold shares of the business. Wolverine Trading LLC acquired a new position in shares of Kirkland’s during the 3rd quarter worth approximately $26,000. Dupree Financial Group LLC increased its holdings 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 worth $69,000 after acquiring an additional 7,000 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Kirkland’s by 7.7% during the third quarter. Geode Capital Management LLC now owns 132,445 shares of the specialty retailer’s stock worth $290,000 after acquiring an additional 9,431 shares during the period. Hedge funds and other institutional investors own 15.38% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Benchmark reaffirmed a “buy” rating and set a $7.00 target price on shares of Kirkland’s in a report on Wednesday, October 23rd.

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.