Kirkland’s Target of Unusually High Options Trading (NASDAQ:KIRK)

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in KIRK. Wolverine Trading LLC acquired a new stake in shares of Kirkland’s in the third quarter valued at approximately $26,000. Dupree Financial Group LLC boosted its position in Kirkland’s by 28.3% during the third quarter. Dupree Financial Group LLC now owns 31,700 shares of the specialty retailer’s stock worth $69,000 after acquiring an additional 7,000 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake 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 during the period. Institutional investors and hedge funds own 15.38% of the company’s stock.

Kirkland’s Stock Down 1.2 %

NASDAQ:KIRK opened at $1.65 on Thursday. The firm’s fifty day simple moving average is $1.71 and its 200-day simple moving average is $1.74. Kirkland’s has a fifty-two week low of $1.39 and a fifty-two week high of $3.30. The stock has a market cap of $21.64 million, a PE ratio of -1.03 and a beta of 2.46.

Analyst Ratings Changes

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

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.