Tremblant Capital Group Invests $18.64 Million in Deckers Outdoor Corporation (DECK) Stock
Tremblant Capital Group bought a new stake in shares of Deckers Outdoor Corporation (NYSE:DECK) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 272,445 shares of the textile maker’s stock, valued at approximately $18,638,000. Deckers Outdoor comprises approximately 0.8% of Tremblant Capital Group’s holdings, making the stock its 26th largest position. Tremblant Capital Group owned about 0.85% of Deckers Outdoor at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the business. Flinton Capital Management LLC boosted its position in shares of Deckers Outdoor by 74.2% in the second quarter. Flinton Capital Management LLC now owns 1,728 shares of the textile maker’s stock worth $118,000 after purchasing an additional 736 shares during the period. Riverhead Capital Management LLC boosted its position in shares of Deckers Outdoor by 75.5% in the second quarter. Riverhead Capital Management LLC now owns 1,931 shares of the textile maker’s stock worth $132,000 after purchasing an additional 831 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Deckers Outdoor by 91.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,543 shares of the textile maker’s stock worth $175,000 after purchasing an additional 1,213 shares during the period. Parallax Volatility Advisers L.P. boosted its position in shares of Deckers Outdoor by 401.9% in the second quarter. Parallax Volatility Advisers L.P. now owns 2,654 shares of the textile maker’s stock worth $181,000 after purchasing an additional 3,533 shares during the period. Finally, Crossmark Global Holdings Inc. bought a new position in shares of Deckers Outdoor in the third quarter worth approximately $202,000. 99.57% of the stock is owned by institutional investors and hedge funds.
Deckers Outdoor Corporation (NYSE DECK) opened at $76.28 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.26 and a current ratio of 2.43. Deckers Outdoor Corporation has a 12-month low of $44.00 and a 12-month high of $77.76. The firm has a market cap of $2,422.36, a price-to-earnings ratio of 16.92, a P/E/G ratio of 1.66 and a beta of 1.26.
Deckers Outdoor (NYSE:DECK) last released its quarterly earnings data on Thursday, October 26th. The textile maker reported $1.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.52. Deckers Outdoor had a net margin of 1.80% and a return on equity of 15.23%. The business had revenue of $482.50 million during the quarter, compared to analyst estimates of $440.11 million. During the same quarter last year, the business earned $1.21 earnings per share. Deckers Outdoor’s quarterly revenue was down .7% compared to the same quarter last year. analysts expect that Deckers Outdoor Corporation will post 4.27 EPS for the current year.
Deckers Outdoor declared that its board has approved a stock buyback plan on Thursday, October 26th that allows the company to buyback $335.00 million in shares. This buyback authorization allows the textile maker to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.
A number of equities analysts have weighed in on the stock. Susquehanna Bancshares reiterated a “negative” rating and issued a $40.00 price target (down from $57.00) on shares of Deckers Outdoor in a research report on Monday, October 16th. BidaskClub upgraded shares of Deckers Outdoor from a “hold” rating to a “buy” rating in a research report on Tuesday, October 3rd. Morgan Stanley upped their price target on shares of Deckers Outdoor from $64.50 to $70.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 31st. Buckingham Research set a $68.00 price target on shares of Deckers Outdoor and gave the stock a “hold” rating in a research report on Friday, October 27th. Finally, Jefferies Group set a $82.00 target price on shares of Deckers Outdoor and gave the stock a “buy” rating in a research report on Sunday, October 29th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. Deckers Outdoor has an average rating of “Hold” and an average target price of $69.77.
Deckers Outdoor Profile
Deckers Outdoor Corporation is engaged in designing, marketing and distributing footwear, apparel and accessories for both everyday casual lifestyle use and high performance activities. The Company’s segments include operations of its brands, such as UGG, Teva, Sanuk and other brands; wholesale divisions, and Direct-to-Consumer (DTC) business, which includes E-Commerce business and retail store business.
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