At this pace, it'll be a while before recently retired Kirkland's leader Robert Alderson unloads all of his shares in the home goods retailer. A trading plan set up by the 68-year-old, who is still a director of Brentwood-based Kirkland's, last Thursday sold 15,000 shares — about 2 percent of his total holdings — for more than $350,000. Shares of Kirkland's (Ticker: KIRK) are down slightly this morning to $22.45 and have slipped about 5 percent so far this year.
Newly installed Kirkland's CEO Mike Madden last week exercised more than 10,000 options that would have expired early next month — and didn't sell the resulting shares, even though it would have generated a profit of about $140,000. Kirkland's shares (Ticker: KIRK) are down almost 2 percent to $25 and change Wednesday morning but have climbed almost 40 percent over the past three months. Analysts see them rising to $28 in the coming year.
Two Texas investment firms have declared sizable stakes in local companies. First up, Vaughan Nelson Investment Management of Houston added to its stake in AmSurg late in 2014, finishing the year with more than 2.2 million shares, or 5.9 percent. Vaughan Nelson manages more than $6.6 billion. AmSurg shares (Ticker: AMSG) finished last week at $55.56 and have climbed 11 percent over the past three months.
Further up Interstate 45 in Dallas, Nokomis Capital filed papers to say it now owns almost 1.2 million shares, or 6.8 percent, of home goods retailer Kirkland's. The hedge fund, which was launched in 2008, manages almost $400 million. Kirkland's has been on a good sales and profits run of late, with its shares (Ticker: KIRK) having climbed 35 percent over the past three months.
Local analyst Mark Montagna at Avondale Partners has hiked his price target for shares of Kirkland's to $27 from $23 following the company's better-than-expected Q3 profit report. He notes that the start of the fourth quarter is tracking nicely and that the company is in line to beat its guidance if the backups many people fear at Western freight ports in the coming weeks turn out to cost less than expected. Also worth noting — and addressed briefly in the company's conference call Thursday — is that Kirkland's now has a cash pile that can enable it to buy back more shares and/or hike its dividend. Shares of the company (Ticker: KIRK) are down slightly today to about $22.35 but that was to be expected after climbing more than 24 percent Thursday.
POSTDATA: WARRANTY DEEDS