The stock of Cherokee Inc (NASDAQ:CHKE) hit a new 52-week low and has $7.89 target or 13.00% below today’s $9.07 share price. The 5 months bearish chart indicates high risk for the $79.07 million company. The 1-year low was reported on Nov, 3 by Barchart.com. If the $7.89 price target is reached, the company will be worth $10.28M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 14,972 shares traded hands. Cherokee Inc (NASDAQ:CHKE) has declined 46.61% since April 1, 2016 and is downtrending. It has underperformed by 47.82% the S&P500.
Cherokee Inc (NASDAQ:CHKE) Ratings Coverage
Out of 5 analysts covering Cherokee (NASDAQ:CHKE), 5 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Cherokee has been the topic of 9 analyst reports since August 4, 2015 according to StockzIntelligence Inc. As per Tuesday, August 4, the company rating was maintained by Wunderlich. TH Capital maintained it with “Buy” rating and $22 target price in Tuesday, October 20 report. The rating was maintained by TH Capital on Thursday, September 17 with “Buy”. The rating was maintained by Brean Capital with “Buy” on Wednesday, September 2. Roth Capital maintained it with “Buy” rating and $22 target price in Tuesday, October 20 report. Roth Capital maintained Cherokee Inc (NASDAQ:CHKE) on Thursday, September 17 with “Buy” rating. The rating was maintained by Wunderlich on Friday, September 9 with “Buy”. The firm earned “Buy” rating on Friday, September 11 by Wunderlich.
According to Zacks Investment Research, “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)”
Insitutional Activity: The institutional sentiment decreased to 0.69 in Q2 2016. Its down 0.12, from 0.81 in 2016Q1. The ratio fall, as 16 funds sold all Cherokee Inc shares owned while 20 reduced positions. 13 funds bought stakes while 12 increased positions. They now own 4.93 million shares or 31.68% less from 7.21 million shares in 2016Q1.
Citigroup last reported 700 shares in the company. Envestnet Asset Management has 0% invested in the company for 14,106 shares. The Connecticut-based Paloma Prtn Mngmt has invested 0% in Cherokee Inc (NASDAQ:CHKE). Menta Cap Ltd Liability holds 16,637 shares or 0.03% of its portfolio. Park Circle has 2.67% invested in the company for 332,531 shares. Diker Management Limited Com holds 20,700 shares or 0.09% of its portfolio. Martin And Tn last reported 0.2% of its portfolio in the stock. Morgan Stanley accumulated 0% or 4,575 shares. Dimensional Fund Advsrs Ltd Partnership accumulated 277,242 shares or 0% of the stock. Cadence Capital Mngmt Ltd Liability Co accumulated 0.02% or 28,068 shares. Millennium Mgmt Ltd Llc holds 0% of its portfolio in Cherokee Inc (NASDAQ:CHKE) for 44,756 shares. Oxford Asset has 0.01% invested in the company for 15,933 shares. The Us-based Ancora Advsrs Limited Liability Com has invested 0.14% in Cherokee Inc (NASDAQ:CHKE). The Illinois-based Perritt has invested 0.55% in Cherokee Inc (NASDAQ:CHKE). Goldman Sachs Grp holds 0% of its portfolio in Cherokee Inc (NASDAQ:CHKE) for 20,451 shares.
Insider Transactions: Since May 6, 2016, the stock had 9 buys, and 0 insider sales for $1.32 million net activity. $94,175 worth of shares were bought by HEADLANDS STRATEGIC OPPORTUNITIES FUND – LP (THE PARTNERSHIP) on Tuesday, September 13. $166,745 worth of Cherokee Inc (NASDAQ:CHKE) shares were bought by RAVICH JESS M.
Another recent and important Cherokee Inc (NASDAQ:CHKE) news was published by Zacks.com which published an article titled: “Why Cherokee Inc. (CHKE) Could Be Positioned for a Slump” on July 05, 2016.
CHKE Company Profile
Cherokee Inc., incorporated on May 17, 1988, 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. The Firm operates in the segment of marketing and licensing of brand names and trademarks for apparel, footwear and accessories. The Firm is a licensor of style focused lifestyle brands for apparel, footwear, home products and accessories. It performs a range of services, including marketing, solicitation of licensees, contract negotiations, and administration and maintenance of license or distribution agreements, among others. The Firm operates in the United States, Canada, Latin America, Asia, the United Kingdom and Europe. The Company’s brands are licensed with retail and wholesale licensees in over 50 countries and approximately 9,000 retail locations.
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