Cherokee Inc. (NASDAQ:CHKE) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Friday.

According to Zacks, “Cherokee Inc. is a marketer and licensor of Cherokee and Sideout brand products, is continuing its negotiations for domestic and international licensing contracts covering multiple categories of merchandise. Cherokee currently has licensing agreements in many categories, including family apparel and fashion accessories, as well as luggage, cosmetics and footwear. (PRESS RELEASE) “

Several other research firms also recently weighed in on CHKE. B. Riley restated a “neutral” rating and issued a $9.00 price target on shares of Cherokee in a research note on Wednesday, May 17th. Roth Capital set a $18.00 price target on Cherokee and gave the stock a “buy” rating in a research note on Saturday, May 13th. Finally, ValuEngine upgraded Cherokee from a “hold” rating to a “buy” rating in a research note on Thursday, June 1st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $14.00.

Cherokee (NASDAQ CHKE) traded down 36.13% on Friday, hitting $4.95. The stock had a trading volume of 1,302,561 shares. The company’s market cap is $64.11 million. The stock has a 50 day moving average price of $8.18 and a 200 day moving average price of $8.90. Cherokee has a 1-year low of $4.70 and a 1-year high of $11.98.

Cherokee (NASDAQ:CHKE) last posted its quarterly earnings results on Thursday, July 6th. The company reported ($0.07) earnings per share 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 analysts’ expectations of $9.25 million. Cherokee had a positive return on equity of 14.10% and a negative net margin of 19.51%. The business’s quarterly revenue was down 36.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.34 EPS. On average, equities research analysts expect that Cherokee will post $0.74 EPS for the current fiscal year.

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In other Cherokee news, major shareholder Strategic Opportunit Headlands bought 91,780 shares of the business’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 document filed with the SEC, which is available at this hyperlink. Company insiders own 9.20% of the company’s stock.

A number of hedge funds have recently modified their holdings of CHKE. Dimensional Fund Advisors LP boosted its position in Cherokee by 3.8% in the first quarter. Dimensional Fund Advisors LP now owns 285,040 shares of the company’s stock valued at $2,451,000 after buying an additional 10,531 shares during the last quarter. Trellus Management Company LLC boosted its position in Cherokee by 203.2% in the first quarter. Trellus Management Company LLC now owns 31,773 shares of the company’s stock valued at $273,000 after buying an additional 21,293 shares during the last quarter. Oxford Asset Management boosted its position in Cherokee by 42.0% in the first quarter. Oxford Asset Management now owns 84,049 shares of the company’s stock valued at $723,000 after buying an additional 24,866 shares during the last quarter. Two Sigma Investments LP boosted its position in Cherokee by 62.1% in the fourth quarter. Two Sigma Investments LP now owns 80,929 shares of the company’s stock valued at $850,000 after buying an additional 30,992 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in Cherokee by 5.4% in the fourth quarter. Renaissance Technologies LLC now owns 605,030 shares of the company’s stock valued at $6,353,000 after buying an additional 31,255 shares during the last quarter. Institutional investors and hedge funds own 80.07% of the company’s stock.

Cherokee Company Profile

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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