Twinbeech Capital LP Invests $590,000 in Deckers Outdoor Co. (NYSE:DECK)

Twinbeech Capital LP purchased a new position in shares of Deckers Outdoor Co. (NYSE:DECK) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,787 shares of the textile maker’s stock, valued at approximately $590,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Crossmark Global Holdings Inc. grew its holdings in shares of Deckers Outdoor by 0.9% during the 1st quarter. Crossmark Global Holdings Inc. now owns 3,423 shares of the textile maker’s stock worth $1,131,000 after purchasing an additional 30 shares during the period. Franklin Resources Inc. lifted its stake in Deckers Outdoor by 3.4% during the 1st quarter. Franklin Resources Inc. now owns 1,307 shares of the textile maker’s stock worth $432,000 after acquiring an additional 43 shares in the last quarter. Private Advisory Group LLC lifted its stake in Deckers Outdoor by 2.2% during the 1st quarter. Private Advisory Group LLC now owns 2,082 shares of the textile maker’s stock worth $688,000 after acquiring an additional 44 shares in the last quarter. Duality Advisers LP lifted its stake in Deckers Outdoor by 0.6% during the 1st quarter. Duality Advisers LP now owns 7,558 shares of the textile maker’s stock worth $2,497,000 after acquiring an additional 46 shares in the last quarter. Finally, Spectrum Management Group LLC lifted its stake in Deckers Outdoor by 1.0% during the 1st quarter. Spectrum Management Group LLC now owns 4,998 shares of the textile maker’s stock worth $1,651,000 after acquiring an additional 48 shares in the last quarter. Institutional investors and hedge funds own 96.56% of the company’s stock.

Shares of NYSE DECK opened at $387.00 on Thursday. Deckers Outdoor Co. has a fifty-two week low of $192.58 and a fifty-two week high of $396.23. The firm has a market cap of $10.90 billion, a price-to-earnings ratio of 28.65, a PEG ratio of 1.52 and a beta of 0.80. The stock’s 50-day simple moving average is $353.01.

Deckers Outdoor (NYSE:DECK) last released its quarterly earnings results on Wednesday, May 19th. The textile maker reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.60. The firm had revenue of $561.20 million for the quarter, compared to the consensus estimate of $434.41 million. Deckers Outdoor had a return on equity of 28.64% and a net margin of 15.03%. The firm’s quarterly revenue was up 49.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.57 EPS. Research analysts anticipate that Deckers Outdoor Co. will post 14.95 earnings per share for the current year.

Deckers Outdoor announced that its board has authorized a share buyback plan on Thursday, May 20th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the textile maker to repurchase up to 8.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

In other Deckers Outdoor news, COO David E. Lafitte sold 500 shares of Deckers Outdoor stock in a transaction that occurred on Friday, July 9th. The stock was sold at an average price of $387.68, for a total value of $193,840.00. Following the transaction, the chief operating officer now directly owns 27,624 shares in the company, valued at approximately $10,709,272.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Powers sold 2,225 shares of Deckers Outdoor stock in a transaction that occurred on Friday, July 9th. The shares were sold at an average price of $387.68, for a total value of $862,588.00. Following the completion of the transaction, the chief executive officer now owns 105,479 shares in the company, valued at $40,892,098.72. The disclosure for this sale can be found here. Insiders have sold a total of 3,225 shares of company stock worth $1,226,393 in the last 90 days. 1.33% of the stock is currently owned by company insiders.

Several equities analysts recently issued reports on DECK shares. Zacks Investment Research lowered Deckers Outdoor from a “buy” rating to a “hold” rating and set a $363.00 target price on the stock. in a research note on Tuesday, May 4th. Jefferies Financial Group increased their target price on Deckers Outdoor from $436.00 to $444.00 and gave the stock a “buy” rating in a research note on Thursday, July 1st. They noted that the move was a valuation call. Robert W. Baird increased their price target on Deckers Outdoor from $415.00 to $440.00 and gave the company an “outperform” rating in a research report on Monday, June 14th. BTIG Research increased their price target on Deckers Outdoor from $420.00 to $447.00 and gave the company a “buy” rating in a research report on Wednesday, May 26th. Finally, Pivotal Research increased their price target on Deckers Outdoor from $365.00 to $390.00 and gave the company a “buy” rating in a research report on Monday, May 17th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $372.47.

Deckers Outdoor Company Profile

Deckers Outdoor Corporation, together with its subsidiaries, designs, markets, and distributes footwear, apparel, and accessories for casual lifestyle use and high-performance activities. The company offers premium footwear, apparel, and accessories under the UGG brand name; sandals, shoes, and boots under the Teva brand name; and relaxed casual shoes and sandals under the Sanuk brand name.

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Institutional Ownership by Quarter for Deckers Outdoor (NYSE:DECK)

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