Stock Traders 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 bought 3,175 put options on the company. This is an increase of 1,274% compared to the typical daily volume of 231 put options.

Kirkland’s Stock Up 0.6 %

KIRK stock opened at $1.73 on Thursday. The business’s 50-day moving average price is $1.76 and its 200-day moving average price is $1.75. The stock has a market cap of $22.69 million, a P/E ratio of -1.08 and a beta of 2.42. Kirkland’s has a twelve month low of $1.39 and a twelve month high of $3.37.

Analysts Set New Price Targets

Several research firms recently issued reports on KIRK. Craig Hallum lowered their price objective on Kirkland’s from $2.50 to $2.00 and set a “hold” rating on the stock in a research report on Friday, September 6th. Benchmark reaffirmed a “buy” rating and set a $7.00 price target on shares of Kirkland’s in a report on Wednesday, October 23rd.

Institutional Trading of Kirkland’s

Several hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC raised its holdings in Kirkland’s by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 132,445 shares of the specialty retailer’s stock valued at $290,000 after buying an additional 9,431 shares during the period. Wolverine Trading LLC purchased a new position in shares of Kirkland’s during the third quarter worth approximately $26,000. Finally, Dupree Financial Group LLC raised its stake in shares of Kirkland’s by 28.3% during the third 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. Hedge funds and other institutional investors 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, outdoor, and gifts.