Renaissance Technologies LLC Has $4.71 Million Position in Cherokee Inc. (CHKE)
Renaissance Technologies LLC reduced its position in shares of Cherokee Inc. (NASDAQ:CHKE) by 9.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 547,403 shares of the company’s stock after selling 57,627 shares during the period. Renaissance Technologies LLC owned 4.23% of Cherokee worth $4,708,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in CHKE. Royce & Associates LP increased 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 worth $4,696,000 after buying an additional 291,000 shares in the last quarter. Northpointe Capital LLC increased its position in shares of Cherokee by 62.9% in the first quarter. Northpointe Capital LLC now owns 700,359 shares of the company’s stock worth $6,023,000 after buying an additional 270,535 shares in the last quarter. Cove Street Capital LLC increased its position in shares of 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 in the last quarter. Russell Investments Group Ltd. increased its position in shares of Cherokee by 17.9% in the first quarter. Russell Investments Group Ltd. now owns 401,539 shares of the company’s stock worth $3,453,000 after buying an additional 60,867 shares in the last quarter. Finally, Oxford Asset Management increased its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 80.07% of the company’s stock.
Shares of Cherokee Inc. (NASDAQ:CHKE) traded down 1.01% on Friday, hitting $4.90. The stock had a trading volume of 71,249 shares. Cherokee Inc. has a 12-month low of $4.10 and a 12-month high of $11.98. The stock has a 50 day moving average of $6.30 and a 200 day moving average of $8.06. The firm’s market cap is $63.46 million.
Cherokee (NASDAQ:CHKE) last announced its quarterly earnings data on Thursday, July 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by $0.20. The company had revenue of $6.80 million during the quarter, compared to analyst estimates of $9.25 million. Cherokee had a negative net margin of 33.53% and a positive return on equity of 6.32%. The firm’s revenue was down 36.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.34 earnings per share. Equities analysts predict that Cherokee Inc. will post $0.72 earnings per share for the current fiscal year.
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A number of research analysts have recently issued reports on CHKE shares. Zacks Investment Research upgraded Cherokee from a “sell” rating to a “hold” rating in a report on Wednesday, May 10th. Roth Capital set a $18.00 price target on Cherokee and gave the company a “buy” rating in a report on Monday, April 24th. ValuEngine upgraded Cherokee from a “hold” rating to a “buy” rating in a report on Thursday, June 1st. FBR & Co reiterated an “outperform” rating and issued a $8.00 price target on shares of Cherokee in a report on Tuesday, July 11th. Finally, B. Riley reiterated a “neutral” rating and issued a $9.00 price target on shares of Cherokee in a report on Friday, May 12th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Cherokee has a consensus rating of “Buy” and a consensus target price of $11.65.
In related news, major shareholder Strategic Opportunit Headlands acquired 91,780 shares of Cherokee stock in a transaction dated 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 9.20% of the stock is currently owned by company insiders.
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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