Kirkland’s (NASDAQ:KIRK) Shares Down 11.3%

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Kirkland’s, Inc. (NASDAQ:KIRK)’s share price dropped 11.3% during trading on Friday . The stock traded as low as $1.33 and last traded at $1.34, approximately 880,430 shares traded hands during mid-day trading. An increase of 143% from the average daily volume of 362,885 shares. The stock had previously closed at $1.51.

KIRK has been the topic of several research reports. ValuEngine raised Kirkland’s from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. TheStreet downgraded Kirkland’s from a “c” rating to a “d” rating in a research report on Thursday, June 6th. B. Riley set a $2.00 price target on Kirkland’s and gave the stock a “hold” rating in a research report on Friday, June 7th. Finally, Sidoti set a $9.00 price target on Kirkland’s and gave the stock a “buy” rating in a research report on Friday, May 24th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Kirkland’s has an average rating of “Buy” and an average target price of $7.67.

The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.35 and a current ratio of 1.11. The stock has a 50-day moving average of $1.62 and a 200-day moving average of $5.21.

Kirkland’s (NASDAQ:KIRK) last issued its quarterly earnings results on Thursday, June 6th. The specialty retailer reported ($0.53) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.36) by ($0.17). The company 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 company’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.06) EPS. Analysts forecast that Kirkland’s, Inc. will post -0.44 EPS for the current fiscal year.

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

Several hedge funds have recently modified their holdings of the business. Strs Ohio boosted its holdings in shares of Kirkland’s by 3.9% in the 1st quarter. Strs Ohio now owns 58,000 shares of the specialty retailer’s stock valued at $407,000 after purchasing an additional 2,200 shares in the last quarter. White Pine Capital LLC lifted its stake in shares of Kirkland’s by 1.7% in the 1st quarter. White Pine Capital LLC now owns 164,900 shares of the specialty retailer’s stock valued at $1,159,000 after acquiring an additional 2,715 shares during the last quarter. 6 Meridian lifted its stake in shares of Kirkland’s by 12.1% in the 2nd quarter. 6 Meridian now owns 72,691 shares of the specialty retailer’s stock valued at $164,000 after acquiring an additional 7,845 shares during the last quarter. Texas Permanent School Fund bought a new position in shares of Kirkland’s in the 1st quarter valued at $71,000. Finally, Parametric Portfolio Associates LLC lifted its stake in shares of Kirkland’s by 10.6% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 108,787 shares of the specialty retailer’s stock valued at $246,000 after acquiring an additional 10,417 shares during the last quarter. 98.94% of the stock is currently owned by hedge funds and other institutional investors.

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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