Cherokee Inc (NASDAQ:CHKE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, April 18th.
According to Zacks, “Cherokee Inc. is a marketer and licensor of Cherokee and Sideout brand products, is continuing its negotiations for domestic and international licensing contracts covering multiple categories of merchandise. Cherokee currently has licensing agreements in many categories, including family apparel and fashion accessories, as well as luggage, cosmetics and footwear. (PRESS RELEASE) “
Several other analysts have also recently weighed in on the stock. B. Riley cut shares of Cherokee from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $17.00 to $10.00 in a research note on Friday, March 10th. Roth Capital set a $18.00 price objective on shares of Cherokee and gave the stock a “buy” rating in a research note on Tuesday, February 28th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Cherokee presently has a consensus rating of “Buy” and a consensus target price of $14.00.
Cherokee (NASDAQ:CHKE) last announced its quarterly earnings data on Thursday, May 11th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.06 by $0.09. The business had revenue of $8.40 million during the quarter, compared to the consensus estimate of $6.86 million. Cherokee had a net margin of 13.83% and a return on equity of 16.59%. The company’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.19 earnings per share.
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In other news, major shareholder Strategic Opportunit Headlands bought 91,780 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The shares were acquired at an average price of $8.50 per share, for a total transaction of $780,130.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.50% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. purchased a new position in Cherokee during the first quarter valued at about $538,000. Cove Street Capital LLC raised its position in Cherokee by 6.5% in the first quarter. Cove Street Capital LLC now owns 2,581,189 shares of the company’s stock valued at $22,198,000 after buying an additional 157,369 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Cherokee by 3.8% in the first quarter. Dimensional Fund Advisors LP now owns 285,040 shares of the company’s stock valued at $2,451,000 after buying an additional 10,531 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Cherokee by 8.5% in the first quarter. Vanguard Group Inc. now owns 478,885 shares of the company’s stock valued at $4,118,000 after buying an additional 37,358 shares in the last quarter. Finally, Royce & Associates LP raised its position in shares of Cherokee by 114.1% in the first quarter. Royce & Associates LP now owns 546,000 shares of the company’s stock valued at $4,696,000 after buying an additional 291,000 shares in the last quarter. Institutional investors and hedge funds own 60.27% of the company’s stock.
Cherokee Inc is a marketer and manager of a portfolio of fashion and lifestyle brands it owns or represents, licensing the Cherokee, Liz Lange, Completely Me by Liz Lange, Hawk, Tony Hawk, Sideout, Carole Little, Everyday California , Flip Flop Shops and ale by alessandra brands and related brands in various consumer product categories and sectors.
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