Cherokee Inc (NASDAQ:CHKE) was the target of a significant decrease in short interest during the month of May. As of May 31st, there was short interest totalling 222,500 shares, a decrease of 23.0% from the April 30th total of 288,800 shares. Currently, 2.0% of the company’s stock are sold short. Based on an average trading volume of 20,600 shares, the days-to-cover ratio is presently 10.8 days.
Several hedge funds and other institutional investors have recently bought and sold shares of CHKE. Vanguard Group Inc boosted its holdings in Cherokee by 8.1% in the third quarter. Vanguard Group Inc now owns 341,339 shares of the company’s stock worth $253,000 after purchasing an additional 25,506 shares in the last quarter. Prudential PLC boosted its holdings in Cherokee by 26.8% in the fourth quarter. Prudential PLC now owns 1,907,399 shares of the company’s stock worth $963,000 after purchasing an additional 403,134 shares in the last quarter. Finally, Cove Street Capital LLC boosted its holdings in Cherokee by 41.2% in the first quarter. Cove Street Capital LLC now owns 3,909,474 shares of the company’s stock worth $2,713,000 after purchasing an additional 1,140,150 shares in the last quarter. 45.80% of the stock is currently owned by institutional investors and hedge funds.
Separately, ValuEngine downgraded shares of Cherokee from a “buy” rating to a “hold” rating in a research note on Monday, May 13th.
Shares of NASDAQ CHKE traded down $0.20 during mid-day trading on Wednesday, reaching $0.61. The company had a trading volume of 140,080 shares, compared to its average volume of 25,863. Cherokee has a twelve month low of $0.38 and a twelve month high of $1.25. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.71. The company has a market capitalization of $12.72 million, a PE ratio of -1.83 and a beta of 1.97.
Cherokee (NASDAQ:CHKE) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported ($0.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.03). Cherokee had a negative return on equity of 20.60% and a negative net margin of 50.42%. The company had revenue of $6.13 million during the quarter, compared to analyst estimates of $6.80 million.
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Cherokee Inc markets, manages, and licenses fashion and lifestyle brands for apparel, footwear, home products, and accessories worldwide. It owns or licenses 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, Saint Tropez-West, Chorus Line, All That Jazz, Sideout Sport, and other brands.
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