Cherokee Inc (NASDAQ:CHKE) was the target of a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 500,711 shares, a drop of 33.9% from the November 30th total of 757,958 shares. Approximately 4.0% of the company’s shares are short sold. Based on an average daily trading volume, of 164,348 shares, the days-to-cover ratio is presently 3.0 days.

A number of hedge funds have recently added to or reduced their stakes in the business. Northern Trust Corp increased its holdings in Cherokee by 1.7% during the 2nd quarter. Northern Trust Corp now owns 30,839 shares of the company’s stock worth $215,000 after purchasing an additional 504 shares in the last quarter. Martin & Co. Inc. TN increased its holdings in Cherokee by 1.3% during the 2nd quarter. Martin & Co. Inc. TN now owns 60,355 shares of the company’s stock worth $419,000 after purchasing an additional 800 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in Cherokee by 3.6% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 64,827 shares of the company’s stock worth $451,000 after purchasing an additional 2,258 shares in the last quarter. Punch & Associates Investment Management Inc. increased its holdings in Cherokee by 2.5% during the 2nd quarter. Punch & Associates Investment Management Inc. now owns 314,050 shares of the company’s stock worth $2,183,000 after purchasing an additional 7,700 shares in the last quarter. Finally, Trellus Management Company LLC increased its holdings in Cherokee by 53.3% during the 3rd quarter. Trellus Management Company LLC now owns 115,000 shares of the company’s stock worth $316,000 after purchasing an additional 40,000 shares in the last quarter. Hedge funds and other institutional investors own 61.46% of the company’s stock.

Cherokee (NASDAQ CHKE) opened at $1.95 on Thursday. The stock has a market capitalization of $26.51, a PE ratio of -1.11 and a beta of 1.19. Cherokee has a 1-year low of $1.66 and a 1-year high of $11.15.

Cherokee (NASDAQ:CHKE) last released its earnings results on Wednesday, December 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.12). The firm had revenue of $11.04 million for the quarter, compared to the consensus estimate of $9.90 million. Cherokee had a negative return on equity of 0.68% and a negative net margin of 42.20%. Cherokee’s revenue for the quarter was up 69.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.10) EPS. equities analysts expect that Cherokee will post -0.1 earnings per share for the current year.

Several analysts recently commented on CHKE shares. FBR & Co reaffirmed a “buy” rating and set a $8.00 price objective on shares of Cherokee in a research note on Wednesday, September 6th. Zacks Investment Research downgraded Cherokee from a “hold” rating to a “strong sell” rating in a research note on Monday, December 11th. Roth Capital dropped their price objective on Cherokee from $10.00 to $6.50 and set a “buy” rating on the stock in a research note on Thursday, September 28th. ValuEngine upgraded Cherokee from a “hold” rating to a “buy” rating in a report on Wednesday, December 6th. Finally, B. Riley reiterated a “buy” rating on shares of Cherokee in a report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Cherokee has an average rating of “Buy” and an average price target of $7.19.

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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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