Hedge Funds Are Betting On Deckers Outdoor Corp (DECK)

Consequently, key money managers have been driving this bullishness. Buckingham Capital Management, managed by David Keidan, created the most valuable position in Deckers Outdoor Corp (NYSE:DECK). Buckingham Capital Management had $20.7 million invested in the company at the end of the quarter. Gilchrist Berg’s Water Street Capital also initiated a $15.1 million position during the quarter. The other funds with new positions in the stock are Steven Boyd’s Armistice Capital, Gilchrist Berg’s Water Street Capital, and Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital.

Let’s now review hedge fund activity in other stocks similar to Deckers Outdoor Corp (NYSE:DECK). We will take a look at Anixter International Inc. (NYSE:AXE), Superior Energy Services, Inc. (NYSE:SPN), Meredith Corporation (NYSE:MDP), and HNI Corp (NYSE:HNI). All of these stocks’ market caps are closest to Deckers Outdoor Corp (NYSE:DECK)’s market cap.

As you can see, these stocks had an average of 21 hedge funds with bullish positions and the average amount invested in these stocks was $316 million. That figure was $364 million in Deckers Outdoor Corp (NYSE:DECK)’s case. Anixter International Inc. (NYSE:AXE) is the most popular stock in this table. On the other hand, HNI Corp (NYSE:HNI) is the least popular one with only 14 bullish hedge fund positions. Compared to these stocks, Deckers Outdoor Corp (NYSE:DECK) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.