Cherokee Inc (CHKE) Sees Large Decrease in Short Interest
Cherokee Inc (NASDAQ:CHKE) saw a significant drop in short interest in the month of March. As of March 29th, there was short interest totalling 309,129 shares, a drop of 41.0% from the March 15th total of 524,200 shares. Approximately 2.7% of the shares of the company are sold short. Based on an average daily volume of 25,903 shares, the short-interest ratio is presently 11.9 days.
CHKE has been the topic of a number of research analyst reports. Zacks Investment Research raised Cherokee from a “hold” rating to a “buy” rating and set a $0.75 price target on the stock in a report on Tuesday, February 5th. ValuEngine lowered Cherokee from a “buy” rating to a “hold” rating in a report on Saturday, February 2nd.
A hedge fund recently raised its stake in Cherokee stock. Prudential PLC grew its holdings in shares of Cherokee Inc (NASDAQ:CHKE) by 26.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,907,399 shares of the company’s stock after purchasing an additional 403,134 shares during the period. Prudential PLC owned approximately 13.41% of Cherokee worth $963,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 43.93% of the company’s stock.
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Cherokee Company Profile
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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