Investors Purchase Large Volume of Call Options on Kirkland’s (NASDAQ:KIRK)

Kirkland’s, Inc. (NASDAQ:KIRK) was the recipient of some unusual options trading activity on Wednesday. Investors purchased 9,808 call options on the stock. This represents an increase of 1,683% compared to the typical daily volume of 550 call options.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on KIRK. Benchmark restated a “buy” rating and issued a $7.00 price target on shares of Kirkland’s in a research report on Wednesday, October 23rd. 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 report on Friday, September 6th.

Hedge Funds Weigh In On Kirkland’s

A number of hedge funds and other institutional investors have recently made changes to their positions in KIRK. Wolverine Trading LLC bought a new stake in shares of Kirkland’s in the third quarter valued at about $26,000. Dupree Financial Group LLC increased its position in Kirkland’s by 28.3% during 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, PEAK6 Investments LLC bought a new stake in shares of Kirkland’s in the 1st quarter valued at about $564,000. Institutional investors own 15.38% of the company’s stock.

Kirkland’s Price Performance

KIRK traded down $0.03 during trading hours on Friday, reaching $1.59. 118,462 shares of the company’s stock traded hands, compared to its average volume of 149,584. The firm has a 50-day moving average price of $1.88 and a 200 day moving average price of $1.80. Kirkland’s has a 52-week low of $1.39 and a 52-week high of $3.54.

Kirkland’s (NASDAQ:KIRK) last posted its quarterly earnings results on Thursday, September 5th. The specialty retailer reported ($1.11) EPS for the quarter, topping analysts’ consensus estimates of ($1.31) by $0.20. The company had revenue of $86.29 million during the quarter.

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.