Short Interest in Deckers Outdoor Corporation (NYSE:DECK) Declines By 16.4%

Deckers Outdoor Corporation (NYSE:DECK) was the recipient of a large decline in short interest in the month of January. As of January 30th, there was short interest totaling 3,040,684 shares, a decline of 16.4% from the January 15th total of 3,637,857 shares. Approximately 2.2% of the company’s shares are sold short. Based on an average daily trading volume, of 3,829,669 shares, the days-to-cover ratio is presently 0.8 days. Based on an average daily trading volume, of 3,829,669 shares, the days-to-cover ratio is presently 0.8 days. Approximately 2.2% of the company’s shares are sold short.

Deckers Outdoor Stock Down 0.3%

Shares of DECK traded down $0.34 during mid-day trading on Monday, reaching $115.68. 1,898,355 shares of the company’s stock were exchanged, compared to its average volume of 3,210,137. Deckers Outdoor has a 52-week low of $78.91 and a 52-week high of $158.00. The company has a market cap of $16.42 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 2.64 and a beta of 1.16. The company has a 50-day simple moving average of $104.96 and a two-hundred day simple moving average of $102.03.

Deckers Outdoor (NYSE:DECK) last released its quarterly earnings results on Thursday, January 29th. The textile maker reported $3.33 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.56. Deckers Outdoor had a return on equity of 41.60% and a net margin of 19.46%.The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter last year, the business posted $3.00 earnings per share. Deckers Outdoor’s revenue was up 7.1% compared to the same quarter last year. As a group, equities research analysts predict that Deckers Outdoor will post 5.89 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. UBS Group reiterated a “buy” rating and issued a $161.00 price objective (up from $157.00) on shares of Deckers Outdoor in a research note on Friday, January 30th. Raymond James Financial set a $115.00 price objective on Deckers Outdoor and gave the stock a “strong-buy” rating in a report on Friday, October 24th. Robert W. Baird cut shares of Deckers Outdoor from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 7th. Wells Fargo & Company set a $110.00 price objective on Deckers Outdoor and gave the stock an “equal weight” rating in a research report on Friday, January 30th. Finally, TD Cowen reiterated a “buy” rating on shares of Deckers Outdoor in a research note on Friday, October 24th. Three analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Deckers Outdoor currently has an average rating of “Hold” and a consensus price target of $125.20.

Insider Buying and Selling

In other news, insider Robin Spring-Green sold 347 shares of the stock in a transaction on Friday, February 13th. The stock was sold at an average price of $113.78, for a total transaction of $39,481.66. Following the completion of the transaction, the insider directly owned 42,461 shares in the company, valued at approximately $4,831,212.58. This represents a 0.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Anne Spangenberg sold 4,063 shares of the business’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $116.02, for a total transaction of $471,389.26. Following the completion of the sale, the insider owned 80,449 shares in the company, valued at approximately $9,333,692.98. This trade represents a 4.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.40% of the company’s stock.

Institutional Trading of Deckers Outdoor

Institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in Deckers Outdoor by 2.7% during the second quarter. Geode Capital Management LLC now owns 4,427,639 shares of the textile maker’s stock worth $454,662,000 after acquiring an additional 114,779 shares during the last quarter. Federated Hermes Inc. increased its position in Deckers Outdoor by 374.1% during the 4th quarter. Federated Hermes Inc. now owns 3,149,719 shares of the textile maker’s stock worth $326,531,000 after purchasing an additional 2,485,338 shares in the last quarter. Invesco Ltd. raised its holdings in Deckers Outdoor by 19.4% in the second quarter. Invesco Ltd. now owns 2,781,218 shares of the textile maker’s stock valued at $286,660,000 after buying an additional 452,081 shares during the period. Norges Bank acquired a new position in Deckers Outdoor during the fourth quarter valued at approximately $252,729,000. Finally, Viking Global Investors LP purchased a new stake in Deckers Outdoor during the third quarter worth approximately $175,058,000. 97.79% of the stock is currently owned by institutional investors and hedge funds.

About Deckers Outdoor

Deckers Outdoor Corporation is a global designer, marketer and distributor of footwear, apparel and accessories. The company’s product portfolio includes well‐known brands such as UGG, HOKA, Teva, Sanuk and Koolaburra by UGG, spanning a range of lifestyle, performance and outdoor categories. Deckers leverages a blend of proprietary manufacturing, strategic brand storytelling and direct‐to‐consumer retail to serve both fashion‐focused and performance‐oriented customers.

Founded in 1973 by Doug Otto and Karl F.