Cherokee Inc. (CHKE) Announces Earnings Results, Misses Expectations By $0.20 EPS
Cherokee Inc. (NASDAQ:CHKE) announced its quarterly earnings data on Thursday, July 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by $0.20, RTT News reports. Cherokee had a positive return on equity of 6.32% and a negative net margin of 33.53%. The firm had revenue of $6.80 million for the quarter, compared to the consensus estimate of $9.25 million. The business’s revenue for the quarter was down 36.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.34 earnings per share.
Cherokee (NASDAQ:CHKE) traded down 7.50% during trading on Friday, reaching $5.55. The company’s stock had a trading volume of 292,555 shares. The stock’s market cap is $71.88 million. The company’s 50 day moving average price is $8.18 and its 200-day moving average price is $8.90. Cherokee has a 1-year low of $4.10 and a 1-year high of $11.98.
Several equities analysts have weighed in on the company. B. Riley reiterated a “neutral” rating and set a $9.00 price target on shares of Cherokee in a report on Friday, May 12th. Roth Capital set a $18.00 target price on Cherokee and gave the stock a “buy” rating in a report on Saturday, May 13th. Zacks Investment Research upgraded Cherokee from a “sell” rating to a “hold” rating in a report on Wednesday, May 10th. FBR & Co reaffirmed an “outperform” rating and issued a $8.00 price target on shares of Cherokee in a research report on Tuesday, July 11th. Finally, ValuEngine raised Cherokee from a “hold” rating to a “buy” rating in a research report on Thursday, June 1st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Cherokee presently has an average rating of “Buy” and a consensus target price of $11.65.
In related news, major shareholder Strategic Opportunit Headlands bought 91,780 shares of the company’s stock in a transaction on Friday, May 12th. The shares were acquired at an average cost of $8.50 per share, for a total transaction of $780,130.00. The purchase was disclosed in a filing with the SEC, which is available through this link. 9.20% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake 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. Trellus Management Company LLC boosted its stake in Cherokee by 203.2% in the first quarter. Trellus Management Company LLC now owns 31,773 shares of the company’s stock worth $273,000 after buying an additional 21,293 shares during the last quarter. Oxford Asset Management boosted its stake in Cherokee by 42.0% in the first quarter. Oxford Asset Management now owns 84,049 shares of the company’s stock worth $723,000 after buying an additional 24,866 shares during the last quarter. Two Sigma Investments LP boosted its stake in Cherokee by 62.1% in the fourth quarter. Two Sigma Investments LP now owns 80,929 shares of the company’s stock worth $850,000 after buying an additional 30,992 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Cherokee by 5.4% in the fourth quarter. Renaissance Technologies LLC now owns 605,030 shares of the company’s stock worth $6,353,000 after buying an additional 31,255 shares during the last quarter. 80.07% of the stock is owned by hedge funds and other institutional investors.
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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