Shares of Cherokee Inc (NASDAQ:CHKE) traded down 7.4% on Wednesday . The stock traded as low as $0.87 and last traded at $0.87. 3,075,965 shares changed hands during trading, an increase of 3,181% from the average session volume of 93,745 shares. The stock had previously closed at $0.94.
Several analysts recently weighed in on the company. Zacks Investment Research upgraded Cherokee from a “sell” rating to a “hold” rating in a research note on Tuesday, March 13th. ValuEngine upgraded Cherokee from a “sell” rating to a “hold” rating in a research note on Monday, April 2nd. Finally, Roth Capital set a $2.00 target price on Cherokee and gave the company a “buy” rating in a research note on Sunday, April 22nd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $3.58.
The stock has a market capitalization of $12.18 million, a P/E ratio of -1.25 and a beta of 1.03.
Cherokee (NASDAQ:CHKE) last announced its quarterly earnings data on Thursday, April 19th. The company reported ($0.40) EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.47). Cherokee had a negative return on equity of 13.63% and a negative net margin of 130.24%. The firm had revenue of $6.88 million during the quarter, compared to the consensus estimate of $9.48 million.
Hedge funds have recently made changes to their positions in the business. First Wilshire Securities Management Inc. lifted its position in shares of Cherokee by 200.0% in the 4th quarter. First Wilshire Securities Management Inc. now owns 90,000 shares of the company’s stock worth $171,000 after acquiring an additional 60,000 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Cherokee by 14.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 403,768 shares of the company’s stock worth $1,110,000 after buying an additional 50,530 shares in the last quarter. Northpointe Capital LLC raised its holdings in shares of Cherokee by 102.4% in the 4th quarter. Northpointe Capital LLC now owns 1,347,183 shares of the company’s stock worth $2,560,000 after buying an additional 681,445 shares in the last quarter. Finally, Cove Street Capital LLC raised its holdings in shares of Cherokee by 8.8% in the 4th quarter. Cove Street Capital LLC now owns 2,770,668 shares of the company’s stock worth $5,188,000 after buying an additional 223,971 shares in the last quarter. Institutional investors own 59.92% of the company’s stock.
Cherokee Company Profile
Cherokee Inc markets, manages, and licenses fashion and lifestyle brands for apparel, footwear, home products, and accessories worldwide. It owns or represents Cherokee, Hi-Tec, Magnum, 50 Peaks, Interceptor, Hawk Signature, Tony Hawk, Liz Lange, Completely Me by Liz Lange, Flip Flop Shops, Everyday California, Carole Little, Sideout, and other brands, as well as Saint Tropez-West, Chorus Line, All That Jazz, and Sideout Sport names.
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