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

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

Kirkland’s Trading Down 1.2 %

Shares of KIRK opened at $1.65 on Thursday. The firm has a market capitalization of $21.64 million, a price-to-earnings ratio of -1.03 and a beta of 2.46. 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 twelve month low of $1.39 and a twelve month high of $3.30.

Analysts Set New Price Targets

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

Institutional Trading of Kirkland’s

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wolverine Trading LLC acquired a new position in Kirkland’s in the third quarter valued at $26,000. Dupree Financial Group LLC boosted its position in shares of Kirkland’s by 28.3% in the 3rd quarter. Dupree Financial Group LLC now owns 31,700 shares of the specialty retailer’s stock valued at $69,000 after purchasing an additional 7,000 shares during the period. Finally, Geode Capital Management LLC grew its stake 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 worth $290,000 after buying an additional 9,431 shares during the last quarter. 15.38% of the stock is currently owned by institutional investors and hedge funds.

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.