Stock Traders Buy High Volume of Kirkland’s Put Options (NASDAQ:KIRK)

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

Kirkland’s Price Performance

KIRK stock opened at $1.91 on Thursday. The firm’s 50-day moving average is $1.61 and its two-hundred day moving average is $1.92. The company has a market capitalization of $24.90 million, a price-to-earnings ratio of -1.00 and a beta of 2.36. Kirkland’s has a 52 week low of $1.39 and a 52 week high of $3.54. The company has a current ratio of 0.88, a quick ratio of 0.11 and a debt-to-equity ratio of 10.88.

Kirkland’s (NASDAQ:KIRK) last announced its earnings results on Thursday, September 5th. The specialty retailer reported ($1.11) EPS for the quarter, topping the consensus estimate of ($1.31) by $0.20. The firm had revenue of $86.29 million for the quarter. Kirkland’s had a negative return on equity of 870.01% and a negative net margin of 4.26%.

Analysts Set New Price Targets

KIRK has been the topic of several analyst reports. Craig Hallum dropped their price target on shares of 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 restated a “buy” rating and issued a $7.00 target price on shares of Kirkland’s in a research report on Thursday, September 12th. Finally, StockNews.com lowered Kirkland’s from a “hold” rating to a “sell” rating in a research report on Friday, June 7th.

Institutional Trading of Kirkland’s

Several institutional investors have recently modified their holdings of KIRK. PEAK6 Investments LLC acquired a new position in Kirkland’s during the first quarter worth about $564,000. Dupree Financial Group LLC bought a new position in shares of Kirkland’s during the 1st quarter valued at about $175,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Kirkland’s in the 4th quarter worth approximately $42,000. Institutional investors and hedge funds own 15.38% of the company’s stock.

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, and gifts.