CAPROCK Group Inc. Holds Stake in Cherokee Inc. (CHKE)
CAPROCK Group Inc. continued to hold its position in Cherokee Inc. (NASDAQ:CHKE) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,280 shares of the company’s stock at the end of the second quarter. CAPROCK Group Inc.’s holdings in Cherokee were worth $197,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Trellus Management Company LLC raised its position in Cherokee by 136.0% in the second quarter. Trellus Management Company LLC now owns 75,000 shares of the company’s stock worth $521,000 after buying an additional 43,227 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in Cherokee during the first quarter worth 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 worth $22,198,000 after buying an additional 157,369 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Cherokee by 3.8% in the first quarter. Dimensional Fund Advisors LP now owns 285,040 shares of the company’s stock worth $2,451,000 after buying an additional 10,531 shares during the last quarter. Finally, Royce & Associates LP raised its position in Cherokee by 114.1% in the first quarter. Royce & Associates LP now owns 546,000 shares of the company’s stock worth $4,696,000 after buying an additional 291,000 shares during the last quarter. 80.07% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cherokee Inc. (NASDAQ CHKE) opened at 4.65 on Tuesday. Cherokee Inc. has a 1-year low of $4.10 and a 1-year high of $11.98. The stock’s market capitalization is $60.22 million. The company has a 50 day moving average price of $6.30 and a 200-day moving average price of $8.06.
Cherokee (NASDAQ:CHKE) last posted its earnings results on Thursday, July 6th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.13 by $0.20. Cherokee had a negative net margin of 33.53% and a positive return on equity of 6.32%. The business had revenue of $6.80 million during the quarter, compared to analyst estimates of $9.25 million. During the same quarter in the prior year, the business earned $0.34 earnings per share. The firm’s revenue was down 36.4% compared to the same quarter last year. On average, equities research analysts forecast that Cherokee Inc. will post $0.72 EPS for the current fiscal year.
A number of research analysts have recently issued reports on the company. Zacks Investment Research raised Cherokee from a “hold” rating to a “buy” rating and set a $5.25 target price on the stock in a report on Tuesday, July 11th. FBR & Co reissued an “outperform” rating and issued a $8.00 target price on shares of Cherokee in a report on Tuesday, July 11th. ValuEngine raised Cherokee from a “hold” rating to a “buy” rating in a report on Thursday, June 1st. B. Riley reissued a “neutral” rating and issued a $9.00 target price on shares of Cherokee in a report on Wednesday, May 17th. Finally, Roth Capital set a $18.00 target price on Cherokee and gave the company a “buy” rating in a report on Saturday, May 13th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $11.65.
In other Cherokee news, major shareholder Strategic Opportunit Headlands bought 91,780 shares of the stock in a transaction that occurred on Friday, May 12th. The shares were purchased at an average cost of $8.50 per share, for a total transaction of $780,130.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 9.20% of the stock is owned by company insiders.
Cherokee Company Profile
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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