Cherokee Inc. (NASDAQ:CHKE) traded up 16% on Tuesday . The stock traded as high as $1.04 and last traded at $0.94. 631,246 shares were traded during mid-day trading, an increase of 897% from the average session volume of 63,315 shares. The stock had previously closed at $0.81.
Several equities research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Cherokee from a “buy” rating to a “hold” rating in a research note on Thursday, May 3rd. Roth Capital set a $2.00 target price on shares of Cherokee and gave the company a “buy” rating in a research note on Sunday, April 22nd. Finally, ValuEngine upgraded shares of Cherokee from a “sell” rating to a “hold” rating in a research note on Monday, April 2nd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Cherokee currently has an average rating of “Buy” and an average target price of $3.58.
The company has a market cap of $11.34 million, a price-to-earnings ratio of -1.32 and a beta of 1.03.
A number of institutional investors and hedge funds have recently made changes to their positions in CHKE. Dimensional Fund Advisors LP boosted its stake in Cherokee by 14.3% in the third quarter. Dimensional Fund Advisors LP now owns 403,768 shares of the company’s stock valued at $1,110,000 after acquiring an additional 50,530 shares in the last quarter. Northpointe Capital LLC lifted its stake in shares of Cherokee by 102.4% during the fourth 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 during the period. Cove Street Capital LLC lifted its stake in shares of Cherokee by 8.8% during the fourth 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 during the period. Finally, First Wilshire Securities Management Inc. lifted its stake in shares of Cherokee by 200.0% during the fourth quarter. First Wilshire Securities Management Inc. now owns 90,000 shares of the company’s stock worth $171,000 after buying an additional 60,000 shares during the period. Institutional investors own 59.92% of the company’s stock.
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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