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

Kirkland’s, Inc. (NASDAQ:KIRK) was the target of some unusual options trading on Wednesday. Stock traders purchased 3,175 put options on the stock. This is an increase of 1,274% compared to the average volume of 231 put options.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum raised Kirkland’s from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 18th.

Kirkland’s Stock Up 3.1 %

Shares of KIRK stock opened at $1.34 on Thursday. The company has a 50 day moving average price of $1.46 and a 200-day moving average price of $1.68. Kirkland’s has a 52 week low of $1.10 and a 52 week high of $3.00. The firm has a market capitalization of $17.58 million, a PE ratio of -0.84 and a beta of 2.59.

Institutional Investors Weigh In On Kirkland’s

A number of hedge funds have recently added to or reduced their stakes in KIRK. Geode Capital Management LLC boosted its stake in shares of 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 buying an additional 9,431 shares during the last quarter. Wolverine Trading LLC bought a new position in Kirkland’s in the third quarter valued at about $26,000. Dupree Financial Group LLC boosted its position in Kirkland’s by 47.3% in the fourth quarter. Dupree Financial Group LLC now owns 46,700 shares of the specialty retailer’s stock worth $76,000 after purchasing an additional 15,000 shares during the last quarter. Shay Capital LLC grew its stake in shares of Kirkland’s by 118.7% during the 4th quarter. Shay Capital LLC now owns 116,655 shares of the specialty retailer’s stock valued at $189,000 after purchasing an additional 63,310 shares during the period. Finally, PEAK6 LLC purchased a new stake in shares of Kirkland’s during the 4th quarter valued at about $379,000. 15.38% of the stock is currently owned by hedge funds and other institutional investors.

Kirkland’s Company Profile

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.