New Age Alpha Advisors LLC Has $2.03 Million Stake in Deckers Outdoor Corporation (NYSE:DECK)

Key Points

• New Age Alpha Advisors LLC decreased its stake in Deckers Outdoor Corporation by 29.6% during the first quarter, after selling 7,652 shares, now holding 18,182 shares worth approximately $2.03 million.
• Insider trading revealed that Director Cindy L. Davis purchased 1,825 shares for about $200,312, while Angela Ogbechie sold 6,244 shares valued at $648,689, showcasing differing sentiments on the stock.
• Deckers Outdoor recently reported $0.93 EPS for the quarter, surpassing estimates and showcasing a 16.9% year-over-year revenue growth, prompting analysts to revise their price targets amid stock buyback plans worth $2.25 billion.

New Age Alpha Advisors LLC cut its holdings in Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 29.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,182 shares of the textile maker's stock after selling 7,652 shares during the period. New Age Alpha Advisors LLC's holdings in Deckers Outdoor were worth $2,033,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Gerber Kawasaki Wealth & Investment Management increased its holdings in shares of Deckers Outdoor by 4.6% during the 4th quarter. Gerber Kawasaki Wealth & Investment Management now owns 1,902 shares of the textile maker's stock valued at $386,000 after acquiring an additional 84 shares during the last quarter. Cumberland Partners Ltd grew its holdings in Deckers Outdoor by 0.4% during the first quarter. Cumberland Partners Ltd now owns 27,991 shares of the textile maker's stock valued at $3,130,000 after purchasing an additional 98 shares during the last quarter. Utah Retirement Systems raised its position in shares of Deckers Outdoor by 0.4% in the fourth quarter. Utah Retirement Systems now owns 25,136 shares of the textile maker's stock valued at $5,105,000 after purchasing an additional 100 shares during the period. Mpwm Advisory Solutions LLC acquired a new stake in shares of Deckers Outdoor in the fourth quarter worth $26,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Deckers Outdoor by 0.8% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,106 shares of the textile maker's stock worth $1,913,000 after buying an additional 140 shares during the period. 97.79% of the stock is owned by institutional investors and hedge funds.

Deckers Outdoor Trading Down 0.3%

Shares of Deckers Outdoor stock traded down $0.30 during mid-day trading on Friday, reaching $101.59. 2,253,155 shares of the stock were exchanged, compared to its average volume of 4,555,924. Deckers Outdoor Corporation has a fifty-two week low of $93.72 and a fifty-two week high of $223.98. The company has a market cap of $15.07 billion, a price-to-earnings ratio of 15.58, a price-to-earnings-growth ratio of 3.89 and a beta of 0.99. The firm has a 50-day simple moving average of $104.81 and a 200 day simple moving average of $122.73.

Deckers Outdoor (NYSE:DECK - Get Free Report) last posted its earnings results on Thursday, July 24th. The textile maker reported $0.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.68 by $0.25. The company had revenue of $964.54 million during the quarter, compared to analysts' expectations of $901.45 million. Deckers Outdoor had a net margin of 19.42% and a return on equity of 40.49%. Deckers Outdoor's quarterly revenue was up 16.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.52 earnings per share. On average, research analysts predict that Deckers Outdoor Corporation will post 5.89 EPS for the current fiscal year.

Deckers Outdoor declared that its board has initiated a stock buyback program on Thursday, May 22nd that authorizes the company to repurchase $2.25 billion in outstanding shares. This repurchase authorization authorizes the textile maker to repurchase up to 11.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Insider Activity

In related news, Director Cindy L. Davis acquired 1,825 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was purchased at an average price of $109.76 per share, for a total transaction of $200,312.00. Following the transaction, the director directly owned 13,340 shares of the company's stock, valued at approximately $1,464,198.40. This trade represents a 15.85% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Maha Saleh Ibrahim sold 300 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $109.08, for a total value of $32,724.00. Following the transaction, the director directly owned 10,681 shares in the company, valued at approximately $1,165,083.48. This represents a 2.73% decrease in their position. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on DECK. Bank of America dropped their target price on shares of Deckers Outdoor from $128.00 to $114.00 and set a "neutral" rating on the stock in a report on Thursday, July 17th. The Goldman Sachs Group dropped their price objective on Deckers Outdoor from $90.00 to $87.00 and set a "sell" rating on the stock in a research note on Tuesday, July 22nd. Citigroup decreased their target price on Deckers Outdoor from $215.00 to $150.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Barclays upped their price target on Deckers Outdoor from $128.00 to $134.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Finally, Cowen reissued a "buy" rating on shares of Deckers Outdoor in a research report on Tuesday, May 20th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $137.50.

About Deckers Outdoor

Deckers Outdoor Corporation, together with its subsidiaries, designs, markets, and distributes footwear, apparel, and accessories for casual lifestyle use and high-performance activities in the United States and internationally. The company offers premium footwear, apparel, and accessories under the UGG brand name; footwear, apparel, and accessories for ultra-runners and athletes under the HOKA brand name; and sandals, shoes, and boots under the Teva brand name.