Cherokee Inc (NASDAQ:CHKE) Major Shareholder Sells $43,524.00 in Stock

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Cherokee Inc (NASDAQ:CHKE) major shareholder Cove Street Capital, Llc sold 70,200 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $0.62, for a total transaction of $43,524.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Cove Street Capital, Llc also recently made the following trade(s):

  • On Wednesday, April 24th, Cove Street Capital, Llc sold 15,117 shares of Cherokee stock. The stock was sold at an average price of $0.71, for a total transaction of $10,733.07.

CHKE stock opened at $0.58 on Monday. The company has a debt-to-equity ratio of 4.12, a current ratio of 0.69 and a quick ratio of 0.69. Cherokee Inc has a one year low of $0.38 and a one year high of $1.25. The company has a market capitalization of $9.26 million, a price-to-earnings ratio of -1.76 and a beta of 1.96.

Cherokee (NASDAQ:CHKE) last released its quarterly earnings results on Tuesday, April 23rd. The company reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.03). Cherokee had a negative return on equity of 20.47% and a negative net margin of 49.15%. The company had revenue of $6.13 million during the quarter, compared to analysts’ expectations of $6.80 million.

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc lifted its holdings in shares of Cherokee by 8.1% in the 3rd quarter. Vanguard Group Inc now owns 341,339 shares of the company’s stock worth $253,000 after acquiring an additional 25,506 shares during the last quarter. Prudential PLC lifted its holdings in shares of Cherokee by 26.8% in the 4th quarter. Prudential PLC now owns 1,907,399 shares of the company’s stock worth $963,000 after acquiring an additional 403,134 shares during the last quarter. Finally, Cove Street Capital LLC lifted its holdings in shares of Cherokee by 41.2% in the 1st quarter. Cove Street Capital LLC now owns 3,909,474 shares of the company’s stock worth $2,713,000 after acquiring an additional 1,140,150 shares during the last quarter. 45.80% of the stock is owned by institutional investors and hedge funds.

Separately, ValuEngine cut shares of Cherokee from a “buy” rating to a “hold” rating in a research note on Monday, May 13th.

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.

See Also: Consumer Price Index (CPI)

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