GAMMA Investing LLC Increases Stock Position in Deckers Outdoor Co. (NYSE:DECK)

GAMMA Investing LLC grew its stake in shares of Deckers Outdoor Co. (NYSE:DECK - Free Report) by 6,893.4% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 202,600 shares of the textile maker's stock after purchasing an additional 199,703 shares during the period. GAMMA Investing LLC owned about 0.13% of Deckers Outdoor worth $22,653,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Central Pacific Bank Trust Division grew its holdings in Deckers Outdoor by 7.9% during the first quarter. Central Pacific Bank Trust Division now owns 6,335 shares of the textile maker's stock worth $708,000 after buying an additional 464 shares in the last quarter. California State Teachers Retirement System increased its position in shares of Deckers Outdoor by 1.9% during the fourth quarter. California State Teachers Retirement System now owns 244,605 shares of the textile maker's stock valued at $49,677,000 after acquiring an additional 4,576 shares during the last quarter. 111 Capital bought a new stake in Deckers Outdoor during the fourth quarter worth $580,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Deckers Outdoor by 113.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 69,094 shares of the textile maker's stock worth $14,032,000 after acquiring an additional 36,712 shares during the period. Finally, Siemens Fonds Invest GmbH grew its stake in Deckers Outdoor by 258.6% in the 4th quarter. Siemens Fonds Invest GmbH now owns 5,874 shares of the textile maker's stock valued at $1,121,000 after purchasing an additional 4,236 shares during the period. 97.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Cowen reiterated a "buy" rating on shares of Deckers Outdoor in a research note on Tuesday, May 20th. TD Securities lifted their price target on shares of Deckers Outdoor from $150.00 to $175.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. Bank of America dropped their price objective on Deckers Outdoor from $154.00 to $128.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Evercore ISI reissued an "in-line" rating and issued a $110.00 target price (down from $235.00) on shares of Deckers Outdoor in a research report on Friday, May 23rd. Finally, UBS Group set a $169.00 target price on Deckers Outdoor and gave the company a "buy" rating in a research note on Friday, May 23rd. Thirteen investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Deckers Outdoor has a consensus rating of "Moderate Buy" and an average target price of $134.68.

Deckers Outdoor Price Performance

Shares of NYSE:DECK traded up $0.97 on Friday, hitting $109.29. The company's stock had a trading volume of 3,148,153 shares, compared to its average volume of 2,580,559. The company has a 50-day simple moving average of $112.40 and a 200 day simple moving average of $153.81. The company has a market capitalization of $16.33 billion, a PE ratio of 17.72, a PEG ratio of 1.68 and a beta of 1.11. Deckers Outdoor Co. has a 1 year low of $93.72 and a 1 year high of $223.98.

Deckers Outdoor (NYSE:DECK - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The textile maker reported $1.00 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.43. The business had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.01 billion. Deckers Outdoor had a net margin of 19.14% and a return on equity of 41.71%. The business's quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.82 EPS. On average, equities research analysts expect that Deckers Outdoor Co. will post 5.89 earnings per share for the current fiscal year.

Deckers Outdoor declared that its Board of Directors has approved a stock repurchase program on Thursday, May 22nd that permits the company to repurchase $2.25 billion in outstanding shares. This repurchase authorization permits the textile maker to repurchase up to 11.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

Insider Activity at Deckers Outdoor

In other Deckers Outdoor news, insider Angela Ogbechie sold 6,244 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $103.89, for a total transaction of $648,689.16. Following the transaction, the insider now directly owns 19,980 shares in the company, valued at $2,075,722.20. This trade represents a 23.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.40% of the stock is owned by insiders.

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.