First Quadrant L P CA Cuts Stake in Kirkland’s, Inc. (KIRK)
First Quadrant L P CA lessened its stake in shares of Kirkland’s, Inc. (NASDAQ:KIRK) by 84.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,407 shares of the specialty retailer’s stock after selling 55,673 shares during the quarter. First Quadrant L P CA owned approximately 0.06% of Kirkland’s worth $119,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of KIRK. JPMorgan Chase & Co. increased its position in Kirkland’s by 1,103.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 9,998 shares of the specialty retailer’s stock worth $103,000 after purchasing an additional 9,167 shares in the last quarter. Voya Investment Management LLC purchased a new stake in Kirkland’s during the 2nd quarter worth about $105,000. Texas Permanent School Fund increased its position in Kirkland’s by 0.9% during the 2nd quarter. Texas Permanent School Fund now owns 10,687 shares of the specialty retailer’s stock worth $110,000 after purchasing an additional 97 shares in the last quarter. Tudor Investment Corp ET AL purchased a new stake in Kirkland’s during the 2nd quarter worth about $112,000. Finally, Wells Fargo & Company MN increased its position in Kirkland’s by 3.6% during the 1st quarter. Wells Fargo & Company MN now owns 10,533 shares of the specialty retailer’s stock worth $131,000 after purchasing an additional 363 shares in the last quarter. Hedge funds and other institutional investors own 87.80% of the company’s stock.
A number of research firms recently commented on KIRK. Zacks Investment Research cut Kirkland’s from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 24th. B. Riley restated a “buy” rating and issued a $14.50 price target on shares of Kirkland’s in a report on Monday, August 28th. Finally, Sidoti upgraded Kirkland’s from a “neutral” rating to a “buy” rating and lifted their price target for the company from $10.00 to $12.00 in a report on Tuesday, August 22nd.
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Shares of Kirkland’s, Inc. (NASDAQ KIRK) opened at $11.51 on Wednesday. The company has a market capitalization of $192.64, a PE ratio of 23.15, a price-to-earnings-growth ratio of 1.43 and a beta of 1.23. Kirkland’s, Inc. has a fifty-two week low of $8.17 and a fifty-two week high of $17.41.
Kirkland’s (NASDAQ:KIRK) last posted its quarterly earnings results on Tuesday, August 22nd. The specialty retailer reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.04. The company had revenue of $131.68 million during the quarter, compared to analysts’ expectations of $125.44 million. Kirkland’s had a return on equity of 6.59% and a net margin of 1.40%. The firm’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.22) EPS. analysts forecast that Kirkland’s, Inc. will post 0.56 earnings per share for the current year.
Kirkland’s announced that its Board of Directors has initiated a share buyback program on Tuesday, August 22nd that permits the company to buyback $10.00 million in shares. This buyback authorization permits the specialty retailer to buy shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
Kirkland’s, Inc is a specialty retailer of home decor and gifts in the United States. The Company’s merchandise categories include wall decor, art, mirrors, lamps, decorative accessories, accent furniture, textiles, fragrance and accessories, frames, housewares, impulse and personal accessories, outdoor living and artificial floral products.
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