6,785 Shares in Deckers Outdoor Corporation (NYSE:DECK) Acquired by Virtu Financial LLC

Key Points

• Virtu Financial LLC has acquired a new stake in Deckers Outdoor Corporation, purchasing 6,785 shares valued at approximately $759,000 during the first quarter.
• Several institutional investors have made significant adjustments to their holdings, with Cynosure Group LLC increasing its stake by 419.3% in the same period.
• Deckers Outdoor reported a 16.9% increase in revenue year-over-year, with earnings of $0.93 per share beating estimates, and has a stock buyback program authorized for $2.25 billion.

Virtu Financial LLC bought a new stake in Deckers Outdoor Corporation (NYSE:DECK - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,785 shares of the textile maker's stock, valued at approximately $759,000.

A number of other institutional investors also recently bought and sold shares of the company. Mpwm Advisory Solutions LLC purchased a new stake in Deckers Outdoor in the fourth quarter worth about $26,000. Vega Investment Solutions purchased a new stake in Deckers Outdoor in the fourth quarter worth about $29,000. Mountain Hill Investment Partners Corp. purchased a new stake in Deckers Outdoor in the first quarter worth about $34,000. Fourth Dimension Wealth LLC purchased a new stake in Deckers Outdoor in the fourth quarter worth about $41,000. Finally, Itau Unibanco Holding S.A. increased its position in Deckers Outdoor by 352.1% in the fourth quarter. Itau Unibanco Holding S.A. now owns 217 shares of the textile maker's stock worth $44,000 after buying an additional 169 shares in the last quarter. Institutional investors own 97.79% of the company's stock.

Insider Activity

In other news, insider Angela Ogbechie sold 6,244 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $103.89, for a total value of $648,689.16. Following the completion of the sale, the insider directly owned 19,980 shares of the company's stock, valued at $2,075,722.20. This trade represents a 23.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Cindy L. Davis acquired 1,825 shares of the stock in a transaction dated Friday, June 6th. The stock was bought at an average cost of $109.76 per share, with a total value of $200,312.00. Following the completion of the purchase, the director directly owned 13,340 shares in the company, valued at approximately $1,464,198.40. The trade was a 15.85% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.40% of the company's stock.

Deckers Outdoor Stock Down 1.0%

Deckers Outdoor stock traded down $1.05 during midday trading on Friday, reaching $102.81. 2,655,669 shares of the stock traded hands, compared to its average volume of 3,417,954. The stock has a market cap of $15.25 billion, a P/E ratio of 15.77, a PEG ratio of 4.04 and a beta of 0.99. Deckers Outdoor Corporation has a 12 month low of $93.72 and a 12 month high of $223.98. The stock's fifty day moving average is $104.61 and its 200-day moving average is $119.64.

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

Deckers Outdoor announced that its Board of Directors has initiated a share buyback program on Thursday, May 22nd that allows the company to buyback $2.25 billion in shares. This buyback authorization allows the textile maker to repurchase up to 11.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have commented on DECK. Bank of America reduced their price target on Deckers Outdoor from $128.00 to $114.00 and set a "neutral" rating for the company in a research report on Thursday, July 17th. Raymond James Financial upped their price target on Deckers Outdoor from $123.00 to $137.00 and gave the stock a "strong-buy" rating in a research report on Friday, July 25th. Argus began coverage on Deckers Outdoor in a research report on Friday, June 13th. They issued a "hold" rating for the company. KeyCorp restated a "sector weight" rating and issued a $150.00 price target on shares of Deckers Outdoor in a research report on Friday, May 23rd. Finally, Telsey Advisory Group reiterated a "market perform" rating and set a $120.00 target price on shares of Deckers Outdoor in a research report on Friday, July 25th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $137.50.

Deckers Outdoor Profile

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.