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

Kirkland’s, Inc. (NASDAQ:KIRK) was the recipient of unusually large options trading on Wednesday. Investors bought 3,175 put options on the stock. This is an increase of approximately 1,274% compared to the average volume of 231 put options.

Kirkland’s Stock Performance

Shares of Kirkland’s stock traded down $0.03 during trading on Friday, hitting $1.59. The stock had a trading volume of 118,462 shares, compared to its average volume of 149,584. Kirkland’s has a 1 year low of $1.39 and a 1 year high of $3.54. The stock has a 50 day simple moving average of $1.88 and a 200 day simple moving average of $1.80.

Kirkland’s (NASDAQ:KIRK) last released its earnings results on Thursday, September 5th. The specialty retailer reported ($1.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.31) by $0.20. The business had revenue of $86.29 million during the quarter.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. 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. Benchmark reiterated a “buy” rating and issued a $7.00 price target on shares of Kirkland’s in a research report on Wednesday, October 23rd.

Institutional Trading of Kirkland’s

Institutional investors have recently made changes to their positions in the stock. Wolverine Trading LLC acquired a new position in Kirkland’s in the 3rd quarter valued at approximately $26,000. Dupree Financial Group LLC grew its holdings 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 in the last quarter. Finally, PEAK6 Investments LLC acquired a new position in shares of Kirkland’s in the first quarter worth $564,000. 15.38% of the stock is currently owned by institutional investors and hedge funds.

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.