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

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

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Kirkland’s

Several institutional investors and hedge funds have recently bought and sold shares of KIRK. Wolverine Trading LLC purchased a new stake in Kirkland’s in the third quarter worth about $26,000. Dupree Financial Group LLC grew its stake in shares of Kirkland’s by 28.3% during the 3rd quarter. Dupree Financial Group LLC now owns 31,700 shares of the specialty retailer’s stock valued at $69,000 after acquiring an additional 7,000 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Kirkland’s by 7.7% in the 3rd 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 in the last quarter. 15.38% of the stock is currently owned by hedge funds and other institutional investors.

Kirkland’s Trading Up 6.8 %

KIRK opened at $1.65 on Thursday. The company’s 50 day moving average is $1.68 and its 200 day moving average is $1.72. The company has a market cap of $21.58 million, a price-to-earnings ratio of -1.03 and a beta of 2.44. Kirkland’s has a 12-month low of $1.39 and a 12-month high of $3.15.

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

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.