Kirkland’s, Inc. (NASDAQ:KIRK)’s share price fell 23.4% on Friday following a dissappointing earnings announcement. The stock traded as low as $7.45 and last traded at $7.90. 1,423,097 shares changed hands during mid-day trading, an increase of 914% from the average session volume of 140,306 shares. The stock had previously closed at $10.31.

The specialty retailer reported $0.95 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.02). The firm had revenue of $216.10 million for the quarter, compared to analysts’ expectations of $222.68 million. Kirkland’s had a net margin of 0.38% and a return on equity of 3.32%. The firm’s revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.79 EPS.

A number of research firms recently commented on KIRK. B. Riley set a $16.00 price objective on Kirkland’s and gave the company a “buy” rating in a research report on Friday, November 30th. Zacks Investment Research cut Kirkland’s from a “hold” rating to a “sell” rating in a research report on Wednesday, November 28th. Finally, ValuEngine cut Kirkland’s from a “buy” rating to a “hold” rating in a research report on Wednesday, November 21st.

Institutional investors and hedge funds have recently modified their holdings of the business. Adams Asset Advisors LLC increased its position in Kirkland’s by 23.1% in the fourth quarter. Adams Asset Advisors LLC now owns 112,376 shares of the specialty retailer’s stock worth $1,070,000 after buying an additional 21,052 shares in the last quarter. BlackRock Inc. increased its position in Kirkland’s by 1.0% in the third quarter. BlackRock Inc. now owns 2,365,235 shares of the specialty retailer’s stock worth $23,866,000 after buying an additional 23,664 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in Kirkland’s in the fourth quarter worth about $1,529,000. Signia Capital Management LLC increased its position in Kirkland’s by 63.7% in the fourth quarter. Signia Capital Management LLC now owns 683,337 shares of the specialty retailer’s stock worth $6,512,000 after buying an additional 265,972 shares in the last quarter. Finally, Putnam Investments LLC increased its position in Kirkland’s by 83.1% in the third quarter. Putnam Investments LLC now owns 141,160 shares of the specialty retailer’s stock worth $1,424,000 after buying an additional 64,060 shares in the last quarter. Institutional investors and hedge funds own 97.15% of the company’s stock.

The stock has a market capitalization of $117.38 million, a P/E ratio of 20.79 and a beta of 1.02.

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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, framed arts, furniture, ornamental wall décor, fragrance and accessories, mirrors, lamps, decorative accessories, textiles, housewares, gifts, artificial floral products, frames, clocks, and outdoor living items.

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