Traders Buy Large Volume of Call Options on Kirkland’s (NASDAQ:KIRK)

Posted by Defense World Staff on Jul 13th, 2023

Kirkland’s, Inc. (NASDAQ:KIRK – Get Free Report) was the target of some unusual options trading activity on Wednesday. Traders bought 9,808 call options on the stock. This is an increase of approximately 1,683% compared to the average daily volume of 550 call options.

Institutional Trading of Kirkland’s

Hedge funds have recently made changes to their positions in the business. Millennium Management LLC bought a new position in Kirkland’s during the 2nd quarter worth $355,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Kirkland’s in the 1st quarter valued at about $673,000. Vanguard Group Inc. increased its holdings in Kirkland’s by 12.1% during the 3rd quarter. Vanguard Group Inc. now owns 665,653 shares of the specialty retailer’s stock worth $2,004,000 after purchasing an additional 71,900 shares in the last quarter. PDT Partners LLC bought a new position in shares of Kirkland’s in the second quarter valued at approximately $218,000. Finally, Goldman Sachs Group Inc. purchased a new position in Kirkland’s in the first quarter valued at approximately $419,000. 16.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Craig Hallum raised their target price on shares of Kirkland’s from $2.50 to $2.75 in a report on Friday, June 9th. Benchmark cut their price target on Kirkland’s from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, April 5th. Finally, StockNews.com upgraded Kirkland’s from a “sell” rating to a “hold” rating in a report on Friday, June 9th.

Kirkland’s Stock Down 0.3 %

Shares of Kirkland’s stock opened at $2.86 on Thursday. The firm has a market cap of $36.65 million, a price-to-earnings ratio of -0.74 and a beta of 1.78. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.91 and a quick ratio of 0.11. Kirkland’s has a 52-week low of $2.55 and a 52-week high of $7.19. The stock has a 50-day simple moving average of $2.90 and a 200-day simple moving average of $3.08.

Kirkland’s (NASDAQ:KIRK – Get Free Report) last posted its quarterly earnings data on Thursday, June 8th. The specialty retailer reported ($0.95) EPS for the quarter. Kirkland’s had a negative return on equity of 118.19% and a negative net margin of 9.94%. The business had revenue of $96.88 million during the quarter.

About Kirkland’s

(Get Free Report)

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.