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

Kirkland’s, Inc. (NASDAQ:KIRK) was the recipient of unusually large options trading activity on Wednesday. Stock traders bought 3,175 put options on the company. This is an increase of 1,274% compared to the typical volume of 231 put options.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Kirkland’s from a “sell” rating to a “hold” rating in a research note on Friday, March 22nd.

Institutional Investors Weigh In On Kirkland’s

Several large investors have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd purchased a new stake in Kirkland’s in the 4th quarter valued at about $42,000. Mercer Global Advisors Inc. ADV purchased a new stake in Kirkland’s in the 3rd quarter valued at about $32,000. LPL Financial LLC boosted its position in Kirkland’s by 89.6% in the 3rd quarter. LPL Financial LLC now owns 24,270 shares of the specialty retailer’s stock valued at $42,000 after buying an additional 11,468 shares during the period. Envestnet Asset Management Inc. purchased a new stake in Kirkland’s in the 3rd quarter valued at about $31,000. Finally, Renaissance Technologies LLC lifted its position in shares of Kirkland’s by 9.3% in the 2nd quarter. Renaissance Technologies LLC now owns 97,300 shares of the specialty retailer’s stock worth $271,000 after purchasing an additional 8,300 shares during the period. 15.38% of the stock is owned by hedge funds and other institutional investors.

Kirkland’s Price Performance

KIRK stock opened at $1.97 on Friday. Kirkland’s has a 12 month low of $1.40 and a 12 month high of $3.88. The company has a current ratio of 0.78, a quick ratio of 0.10 and a debt-to-equity ratio of 10.88. The company has a 50-day moving average price of $2.53 and a 200 day moving average price of $2.46. The stock has a market cap of $25.47 million, a PE ratio of -0.90 and a beta of 2.20.

Kirkland’s (NASDAQ:KIRK) last released its quarterly earnings data on Thursday, March 21st. The specialty retailer reported $0.78 earnings per share (EPS) for the quarter. The company had revenue of $165.95 million during the quarter. Kirkland’s had a negative net margin of 5.92% and a negative return on equity of 870.01%.

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, and gifts.