Kirkland’s (NASDAQ:KIRK) Trading Down 8%

Kirkland’s, Inc. (NASDAQ:KIRK)’s share price fell 8% during mid-day trading on Thursday . The stock traded as low as $1.85 and last traded at $1.85, 649,081 shares were traded during mid-day trading. An increase of 99% from the average session volume of 326,820 shares. The stock had previously closed at $2.01.

Several brokerages have recently issued reports on KIRK. B. Riley set a $2.00 target price on shares of Kirkland’s and gave the company a “hold” rating in a report on Friday, June 7th. TheStreet cut shares of Zumiez from a “b” rating to a “c+” rating in a research note on Thursday, June 6th. Finally, Sidoti set a $9.00 price target on shares of Kirkland’s and gave the stock a “buy” rating in a research note on Friday, May 24th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $7.67.

The firm has a market cap of $28.19 million, a PE ratio of 4.87 and a beta of 0.69. The stock has a 50 day simple moving average of $2.83. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.35 and a current ratio of 1.11.

Kirkland’s (NASDAQ:KIRK) last issued its quarterly earnings results on Thursday, June 6th. The specialty retailer reported ($0.53) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.36) by ($0.17). The business had revenue of $129.60 million for the quarter, compared to analyst estimates of $132.37 million. Kirkland’s had a negative return on equity of 1.45% and a negative net margin of 0.67%. The firm’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.06) EPS. On average, equities analysts anticipate that Kirkland’s, Inc. will post -0.44 EPS for the current fiscal year.

In other news, CEO Steven C. Woodward acquired 42,918 shares of the business’s stock in a transaction on Monday, June 10th. The stock was bought at an average price of $2.36 per share, for a total transaction of $101,286.48. Following the transaction, the chief executive officer now owns 167,954 shares in the company, valued at $396,371.44. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles Pleas III acquired 100,000 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were purchased at an average price of $2.39 per share, with a total value of $239,000.00. Following the transaction, the director now owns 112,000 shares in the company, valued at approximately $267,680. The disclosure for this purchase can be found here. 1.90% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in KIRK. Rhumbline Advisers grew its stake in shares of Kirkland’s by 18.7% in the fourth quarter. Rhumbline Advisers now owns 44,640 shares of the specialty retailer’s stock worth $425,000 after purchasing an additional 7,024 shares during the last quarter. Oregon Public Employees Retirement Fund bought a new stake in shares of Kirkland’s in the fourth quarter worth about $54,000. First Trust Advisors LP grew its stake in shares of Kirkland’s by 12.4% in the fourth quarter. First Trust Advisors LP now owns 26,780 shares of the specialty retailer’s stock worth $255,000 after purchasing an additional 2,957 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of Kirkland’s by 3.0% in the fourth quarter. California Public Employees Retirement System now owns 95,638 shares of the specialty retailer’s stock worth $911,000 after purchasing an additional 2,783 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC bought a new stake in shares of Kirkland’s in the fourth quarter worth about $38,000. Institutional investors and hedge funds own 99.59% of the company’s stock.

About Kirkland’s (NASDAQ:KIRK)

Kirkland's, Inc operates as a specialty retailer of home décor in the United States. The company's stores provide various merchandise, including holiday décor, furniture, art, fragrance and accessories, ornamental wall décor, decorative accessories, mirrors, lamps, textiles, artificial floral products, gifts, housewares, outdoor living items, frames, and clocks.

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