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Why Deckers Outdoors, YRC Worldwide, and Three Other Stocks Are Trading Higher Today

U.S. stock markets are mixed on Friday, following analogous corporate earnings, with the S&P and NASDAQ trading modestly up, and Dow Jones marginally down, mostly driven by a decline in energy stocks and weaker-than-anticipated GDP growth in the second quarter that was disclosed earlier today.

However, a few stocks, including Deckers Outdoor Corp (NYSE:DECK), Skypeople Fruit Juice Inc (NASDAQ:SPU), YRC Worldwide Inc (NASDAQ:YRCW), Anavex Life Sciences Corp. (NASDAQ:AVXL) and Amira Nature Foods Ltd (NYSE:ANFI) are gaining ground today. With this in mind, let’s take a look into the events that sent these stocks higher today, and assess what the funds in our database think about the companies in question.

While there are many metrics that investors can assess in the investment process, the hedge fund sentiment is something that is often overlooked. However, hedge funds and other institutional investors allocate significant resources while making their bets and their long-term focus makes them the perfect investors to emulate. This is supported by our research, which determined that following the small-cap stocks that hedge funds are collectively bullish on can help a smaller investor to beat the S&P 500 by around 95 basis points per month (see the details here).

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Deckers Outdoor Thrives On Double-Beat

Let’s start with Deckers Outdoor Corp (NYSE:DECK), which has risen by more than 2.8% on Friday, driven by better-than-expected fiscal first-quarter results. The company posted a net loss of $1.80 per share, beating the estimates by $0.27, while its revenue of $174.39 million topped the consensus estimate by $4.13 million, although same-store sales slid by 7.3%. The stock was also helped by a strong guidance, which includes fiscal second-quarter EPS between $1.12 and $1.22, compared to estimates of $1.19, while for the full fiscal 2017, the company expects EPS of $4.05 to $4.40. As of the end of the first quarter, 21 funds among those we track hold long stakes in Deckers Outdoor Corp (NYSE:DECK). The largest position was held by Richard Mashaal’s Senvest Management, which disclosed ownership of almost 1.5 million shares, valued at more than $89 million.

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Skypeople Fruit Juice Skyrockets On Entry To Export Market

Next up is Skypeople Fruit Juice Inc (NASDAQ:SPU), which has gained roughly 5% today, after announcing it had formed a new unit that will operate “as a global trading and marketing platform to optimize Skypeople’s Hedetang fruit juice product portfolio,” according to a statement. Some analysts have already weighed in on the development, arguing that it should be value-accretive over the long-term, helping the company diversify geographically. At the end of the first quarter, Skypeople Fruit Juice Inc (NASDAQ:SPU) saw only five institutional investors among its shareholders, including Jim Simons’ Renaissance Technologies, which held 17,051 shares.

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YRC Worldwide Helped By Strong Results

Shares of YRC Worldwide Inc (NASDAQ:YRCW) are trading up by 18% on Friday, after the company posted financial results that beat top and bottom line estimates. EPS of $0.83 topped the Street’s consensus by $0.30, while revenue of $1.21 billion came in $10 million ahead of expectations. A total of 23 funds among those we track were long YRC Worldwide Inc (NASDAQ:YRCW) at the end of the first quarter, including Marc Lasry‘s Avenue Capital, which kept the largest stake of 4.8 million shares, down by 19% over the quarter.

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Anavex Life Sciences Rebounds On Clearer Results

Also on the rise on Friday is Anavex Life Sciences Corp. (NASDAQ:AVXL), which has gained nearly 8%, recuperating some of the ground lost over the week. Shares plummeted this week, on concerning results of its Phase 2a Alzheimer’s study for ANAVEX 2-73. Today’s rebound was a reaction to a company statement explaining that the trial was successful in determining the maximum dose patients can tolerate and revealing the doses range. At the end of March, only five funds in our database were bullish on Anavex Life Sciences Corp. (NASDAQ:AVXL), up from two funds registered three months earlier.

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Amira Nature Foods Thrives Despite Declining Sales

Finally, there’s Amira Nature Foods Ltd (NYSE:ANFI), which has surged by about 14% on Friday, following the announcement of the company’s financial results for fiscal 2016 ended March 31. The company  earned $1.17 per share during the year, on revenue of $563.45 million, which compares with EPS of $1.56 and revenue of $700.04 million reported for the previous fiscal year. At the end of the first quarter, Amira Nature Foods Ltd (NYSE:ANFI) saw four funds among those we track holding shares, including D E Shaw, which declared ownership of 124,564 shares as of March 31.

Disclosure: Javier Hasse holds no interest in any of the securities or entities mentioned above.

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