Stock traders buy high volume of Kirkland put options (NASDAQ:KIRK)

Kirkland’s, Inc. (NASDAQ:KIRK – Get Rating) saw unusual options trading activity on Wednesday. Investors bought 3,175 put options on the stock. This is a 1,274% increase from the average volume of 231 put options.

Analyst upgrades and downgrades

Several research analysts have recently released reports on the stock. TheStreet downgraded Kirkland’s shares from a ‘c’ rating to a ‘d+’ rating in a Tuesday, May 31 research note. Benchmark reduced its target price on Kirkland from $25.00 to $15.00 and set an “na” rating for the company in a Wednesday, May 18 report. Craig Hallum reduced his price target on Kirkland to $9.00 in a Friday, May 27 research note. Finally, downgraded Kirkland’s rating from a “hold” rating to a “sell” rating in a Wednesday, June 8 report.

Kirkland Price Performance

KIRK shares opened at $3.58 on Friday. The company has a fifty-day simple moving average of $3.79 and a two-hundred-day simple moving average of $8.27. The company has a market capitalization of $45.57 million, a PE ratio of 4.31 and a beta of 1.81. The company has a current ratio of 1.30, a quick ratio of 0.15 and a debt ratio of 0.54. Kirkland’s has a 1-year minimum of $2.98 and a 1-year maximum of $27.22.

Kirkland’s (NASDAQ:KIRK – Get Rating) last released quarterly earnings data on Tuesday, May 31. The specialty retailer reported EPS ($0.62) for the quarter. Kirkland’s had a net margin of 2.31% and a return on equity of 13.86%. The company had revenue of $103.29 million for the quarter.

Hedge funds weigh on Kirkland

A number of institutional investors and hedge funds have recently changed their positions in the company. UBS Group AG purchased a new stake in Kirkland’s during the second quarter worth approximately $56,000. Quantbot Technologies LP bought a new position in Kirkland’s in Q1 worth $68,000. JPMorgan Chase & Co. increased its position in Kirkland’s by 340.1% in the second quarter. JPMorgan Chase & Co. now owns 26,094 shares of the specialty retailer valued at $92,000 after buying an additional 20,165 shares last quarter. DCF Advisers LLC purchased a new stake in Kirkland’s in the first quarter worth approximately $224,000. Finally, SummerHaven Investment Management LLC increased its stake in Kirkland’s stock by 4.4% in the first quarter. SummerHaven Investment Management LLC now owns 43,156 shares of the specialty retailer worth $401,000 after purchasing an additional 1,828 shares during the period. Hedge funds and other institutional investors own 77.92% of the company’s shares.

About Kirkland

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Kirkland’s, Inc. operates as a home furnishings specialty retailer in the United States. The Company’s stores offer a variety of merchandise, including holiday decorations, furniture, textiles, ornamental wall decorations, decorative accessories, art, mirrors, home fragrances, lighting, flowers, household items and gifts.

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