Punch & Associates Investment Management Inc. Has $2.18 Million Holdings in Cherokee Inc. (CHKE)
Punch & Associates Investment Management Inc. boosted its holdings in Cherokee Inc. (NASDAQ:CHKE) by 2.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 314,050 shares of the company’s stock after purchasing an additional 7,700 shares during the quarter. Punch & Associates Investment Management Inc. owned 2.42% of Cherokee worth $2,183,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the business. Royce & Associates LP raised its position in shares of Cherokee by 114.1% in the 1st quarter. Royce & Associates LP now owns 546,000 shares of the company’s stock valued at $4,696,000 after buying an additional 291,000 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new position in shares of Cherokee in the 1st quarter valued at approximately $538,000. Trellus Management Company LLC raised its position in shares of Cherokee by 136.0% in the 2nd quarter. Trellus Management Company LLC now owns 75,000 shares of the company’s stock valued at $521,000 after buying an additional 43,227 shares in the last quarter. Cove Street Capital LLC raised its position in shares of Cherokee by 6.5% in the 1st quarter. Cove Street Capital LLC now owns 2,581,189 shares of the company’s stock valued at $22,198,000 after buying an additional 157,369 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Cherokee by 17.9% in the 1st quarter. Russell Investments Group Ltd. now owns 401,539 shares of the company’s stock valued at $3,453,000 after buying an additional 60,867 shares in the last quarter. Institutional investors and hedge funds own 72.50% of the company’s stock.
CHKE has been the subject of several analyst reports. Zacks Investment Research cut shares of Cherokee from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 7th. FBR & Co reaffirmed a “buy” rating and set a $8.00 price target on shares of Cherokee in a report on Wednesday, September 6th. Finally, Roth Capital decreased their price target on shares of Cherokee from $18.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, August 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. Cherokee currently has a consensus rating of “Hold” and a consensus target price of $7.19.
Cherokee Inc. (NASDAQ:CHKE) traded up 2.33% during midday trading on Thursday, reaching $2.20. 31,655 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $3.74 and a 200-day moving average of $6.40. The stock’s market cap is $30.69 million. Cherokee Inc. has a 12 month low of $2.10 and a 12 month high of $11.87.
Cherokee (NASDAQ:CHKE) last announced its earnings results on Thursday, September 7th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06). The company had revenue of $14.00 million during the quarter, compared to analysts’ expectations of $7.81 million. Cherokee had a negative net margin of 42.78% and a positive return on equity of 1.52%. The company’s revenue for the quarter was up 64.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.22 earnings per share. On average, equities research analysts predict that Cherokee Inc. will post $0.17 earnings per share for the current year.
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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