Traders Buy Large Volume of Put Options on Kirkland’s (NASDAQ:KIRK)

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

Institutional Trading of Kirkland’s

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

Kirkland’s Stock Performance

Kirkland’s stock opened at $1.52 on Thursday. The stock has a market cap of $19.82 million, a P/E ratio of -0.80 and a beta of 2.39. Kirkland’s has a 12 month low of $1.39 and a 12 month high of $3.54. The company has a quick ratio of 0.10, a current ratio of 0.85 and a debt-to-equity ratio of 10.88. The company’s fifty day simple moving average is $1.60 and its 200-day simple moving average is $1.99.

Kirkland’s (NASDAQ:KIRK) last posted its earnings results on Thursday, June 6th. The specialty retailer reported ($0.68) earnings per share (EPS) for the quarter. The business had revenue of $91.75 million during the quarter. Kirkland’s had a negative net margin of 5.28% and a negative return on equity of 870.01%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on KIRK. StockNews.com cut Kirkland’s from a “hold” rating to a “sell” rating in a research report on Friday, June 7th. Benchmark reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Kirkland’s in a research note on Friday, June 7th.

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.