Marshall Wace LLP Decreases Position in Deckers Outdoor Corp (DECK)
Marshall Wace LLP reduced its stake in Deckers Outdoor Corp (NYSE:DECK) by 21.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 216,048 shares of the textile maker’s stock after selling 59,670 shares during the period. Marshall Wace LLP’s holdings in Deckers Outdoor were worth $25,619,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans increased its stake in shares of Deckers Outdoor by 5.8% during the third quarter. Thrivent Financial for Lutherans now owns 7,340 shares of the textile maker’s stock valued at $870,000 after purchasing an additional 403 shares in the last quarter. Martingale Asset Management L P increased its stake in shares of Deckers Outdoor by 3.2% during the third quarter. Martingale Asset Management L P now owns 16,224 shares of the textile maker’s stock valued at $1,924,000 after purchasing an additional 506 shares in the last quarter. Point72 Hong Kong Ltd increased its stake in shares of Deckers Outdoor by 30.0% during the second quarter. Point72 Hong Kong Ltd now owns 2,641 shares of the textile maker’s stock valued at $298,000 after purchasing an additional 610 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Deckers Outdoor by 57.3% during the second quarter. Tower Research Capital LLC TRC now owns 1,770 shares of the textile maker’s stock valued at $200,000 after purchasing an additional 645 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its stake in shares of Deckers Outdoor by 2.6% during the third quarter. DekaBank Deutsche Girozentrale now owns 25,157 shares of the textile maker’s stock valued at $2,994,000 after purchasing an additional 646 shares in the last quarter.
In related news, insider Caroti Stefano sold 1,750 shares of the firm’s stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $130.00, for a total value of $227,500.00. Following the sale, the insider now owns 24,252 shares in the company, valued at $3,152,760. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Powers sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 31st. The stock was sold at an average price of $128.31, for a total transaction of $192,465.00. Following the completion of the sale, the chief executive officer now owns 66,047 shares in the company, valued at approximately $8,474,490.57. The disclosure for this sale can be found here. Insiders sold 6,250 shares of company stock worth $821,965 in the last 90 days. 0.40% of the stock is currently owned by corporate insiders.
Deckers Outdoor (NYSE:DECK) last issued its earnings results on Thursday, October 25th. The textile maker reported $2.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.66. Deckers Outdoor had a net margin of 7.69% and a return on equity of 23.27%. The company had revenue of $501.91 million for the quarter, compared to analysts’ expectations of $496.22 million. During the same quarter last year, the company posted $1.54 earnings per share. As a group, equities analysts predict that Deckers Outdoor Corp will post 6.82 earnings per share for the current fiscal year.
A number of brokerages have weighed in on DECK. ValuEngine downgraded shares of Deckers Outdoor from a “buy” rating to a “hold” rating in a research note on Friday. Zacks Investment Research cut shares of Deckers Outdoor from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 16th. Pivotal Research set a $120.00 price target on shares of Deckers Outdoor and gave the company a “hold” rating in a report on Wednesday, October 24th. Susquehanna Bancshares upgraded shares of Deckers Outdoor from a “neutral” rating to a “positive” rating in a report on Friday, October 26th. Finally, Buckingham Research increased their price target on shares of Deckers Outdoor from $99.00 to $109.00 and gave the company a “neutral” rating in a report on Thursday, August 16th. Twelve equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Deckers Outdoor has an average rating of “Hold” and an average price target of $118.14.
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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. It offers premium footwear, apparel, and accessories under the UGG brand name; sandals, shoes, and boots under the Teva brand name; and footwear under the Sanuk brand name.
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