Cherokee Inc (CHKE) Director John Mcclain Purchases 10,000 Shares of Stock

Cherokee Inc (NASDAQ:CHKE) Director John Mcclain purchased 10,000 shares of the business’s stock in a transaction on Tuesday, December 19th. The stock was bought at an average cost of $2.04 per share, for a total transaction of $20,400.00. Following the purchase, the director now owns 27,977 shares of the company’s stock, valued at approximately $57,073.08. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Shares of Cherokee Inc (NASDAQ CHKE) traded down $0.05 during mid-day trading on Friday, hitting $2.00. 105,789 shares of the stock were exchanged, compared to its average volume of 107,085. The company has a market capitalization of $28.60, a price-to-earnings ratio of -1.14 and a beta of 1.18. Cherokee Inc has a twelve month low of $1.66 and a twelve month high of $11.15.

Cherokee (NASDAQ:CHKE) last announced its quarterly earnings data on Wednesday, December 6th. The company reported ($0.05) EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.12). The business had revenue of $11.04 million during the quarter, compared to the consensus estimate of $9.90 million. Cherokee had a negative return on equity of 0.68% and a negative net margin of 42.20%. The business’s revenue for the quarter was up 69.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.10) EPS. analysts forecast that Cherokee Inc will post -0.1 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Northern Trust Corp lifted its position in shares of Cherokee by 1.7% in the second quarter. Northern Trust Corp now owns 30,839 shares of the company’s stock worth $215,000 after purchasing an additional 504 shares in the last quarter. Martin & Co. Inc. TN raised its position in Cherokee by 1.3% during the second quarter. Martin & Co. Inc. TN now owns 60,355 shares of the company’s stock worth $419,000 after acquiring an additional 800 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in Cherokee by 3.6% during the second quarter. Oppenheimer Asset Management Inc. now owns 64,827 shares of the company’s stock worth $451,000 after acquiring an additional 2,258 shares in the last quarter. Punch & Associates Investment Management Inc. raised its position in Cherokee by 2.5% during the second quarter. Punch & Associates Investment Management Inc. now owns 314,050 shares of the company’s stock worth $2,183,000 after acquiring an additional 7,700 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Cherokee by 3.8% during the first quarter. Dimensional Fund Advisors LP now owns 285,040 shares of the company’s stock worth $2,451,000 after acquiring an additional 10,531 shares in the last quarter. 61.46% of the stock is currently owned by institutional investors and hedge funds.

CHKE has been the topic of a number of research reports. FBR & Co reaffirmed a “buy” rating and issued a $8.00 price target on shares of Cherokee in a research note on Wednesday, September 6th. Roth Capital cut their price target on shares of Cherokee from $10.00 to $6.50 and set a “buy” rating on the stock in a research note on Thursday, September 28th. B. Riley reaffirmed a “buy” rating on shares of Cherokee in a research note on Wednesday, November 1st. Zacks Investment Research raised shares of Cherokee from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 28th. Finally, ValuEngine raised shares of Cherokee from a “hold” rating to a “buy” rating in a research report on Wednesday, December 6th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $7.19.

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About Cherokee

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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