American International Group Inc. cut its position in shares of Kirkland’s, Inc. (NASDAQ:KIRK) by 15.9% during the first quarter, Holdings Channel reports. The fund owned 9,080 shares of the specialty retailer’s stock after selling 1,711 shares during the period. American International Group Inc.’s holdings in Kirkland’s were worth $113,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Algert Global LLC raised its position in Kirkland’s by 243.5% in the first quarter. Algert Global LLC now owns 180,144 shares of the specialty retailer’s stock worth $2,234,000 after buying an additional 127,696 shares during the last quarter. Adams Diversified Equity Fund Inc. raised its position in Kirkland’s by 60.9% in the first quarter. Adams Diversified Equity Fund Inc. now owns 87,700 shares of the specialty retailer’s stock worth $1,087,000 after buying an additional 33,200 shares during the last quarter. AlphaOne Investment Services LLC raised its position in Kirkland’s by 13.8% in the first quarter. AlphaOne Investment Services LLC now owns 197,503 shares of the specialty retailer’s stock worth $2,450,000 after buying an additional 23,990 shares during the last quarter. State Street Corp raised its position in Kirkland’s by 7.3% in the fourth quarter. State Street Corp now owns 344,056 shares of the specialty retailer’s stock worth $5,336,000 after buying an additional 23,412 shares during the last quarter. Finally, TFS Capital LLC bought a new position in Kirkland’s during the first quarter worth about $288,000. 89.16% of the stock is currently owned by institutional investors and hedge funds.
Kirkland’s, Inc. (NASDAQ KIRK) opened at 9.38 on Thursday. The stock has a 50 day moving average price of $9.65 and a 200-day moving average price of $10.95. Kirkland’s, Inc. has a 12-month low of $8.51 and a 12-month high of $17.41. The firm has a market cap of $149.29 million, a price-to-earnings ratio of 17.60 and a beta of 1.25.
Kirkland’s (NASDAQ:KIRK) last announced its quarterly earnings results on Tuesday, May 23rd. The specialty retailer reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by $0.03. The company had revenue of $132.80 million for the quarter, compared to analyst estimates of $134.32 million. Kirkland’s had a return on equity of 6.90% and a net margin of 1.46%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 earnings per share. Equities analysts forecast that Kirkland’s, Inc. will post $0.55 earnings per share for the current year.
Separately, B. Riley initiated coverage on Kirkland’s in a report on Saturday, July 1st. They issued a “buy” rating and a $13.50 target price on the stock. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $14.17.
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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