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

Kirkland’s, Inc. (NASDAQ:KIRK) saw some unusual options trading activity on Wednesday. Investors bought 3,175 put options on the company. This is an increase of 1,274% compared to the average volume of 231 put options.

Kirkland’s Trading Up 1.0 %

Shares of Kirkland’s stock opened at $1.93 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.11 and a debt-to-equity ratio of 10.88. The company has a fifty day simple moving average of $1.62 and a 200-day simple moving average of $1.92. The stock has a market cap of $25.17 million, a price-to-earnings ratio of -1.01 and a beta of 2.36. Kirkland’s has a 12-month low of $1.39 and a 12-month high of $3.54.

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

Analysts Set New Price Targets

A number of brokerages recently commented on KIRK. Craig Hallum lowered their target price on shares of Kirkland’s from $2.50 to $2.00 and set a “hold” rating for the company in a research note 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 Thursday, September 12th. Finally, StockNews.com downgraded Kirkland’s from a “hold” rating to a “sell” rating in a report on Friday, June 7th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Quadrature Capital Ltd purchased a new position in Kirkland’s during the 4th quarter worth $42,000. Dupree Financial Group LLC purchased a new stake in shares of Kirkland’s in the first quarter valued at about $175,000. Finally, PEAK6 Investments LLC acquired a new stake in shares of Kirkland’s during the first quarter worth about $564,000. Hedge funds and other institutional investors own 15.38% of the company’s stock.

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, and gifts.