|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||74.40 - 76.52|
|52 Week Range||44.00 - 78.77|
|PE Ratio (TTM)||75.23|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Deckers Outdoor Corp beat back a challenge from activist hedge fund Marcato Capital Management, but shares of the maker of UGG boots fell more than 4 percent on news that all its directors had been re-elected. Its main portfolio has returned 24 percent this year, beating the average hedge fund's roughly 8 percent gain.
The activist investor has made a significant profit on his investment in Deckers Outdoors, but now that he lost a proxy war it is very unlikely that the company will sell itself or its assets anytime soon....
Deckers Outdoor Corp shareholders looked set to hand three board seats to Marcato Capital Management at the UGG boots maker's annual meeting on Thursday, capping a months-long bitter proxy contest. Half a dozen investors interviewed by Reuters said they will or already have voted for Marcato, while two people familiar with votes cast by dozens of other shareholders said the hedge fund was leading Deckers in the proxy fight. "There is no argument for not having a shareholder on the board in order to hold management accountable," said Ken Squire, a portfolio manager at 13D Activist Fund, which owns 0.51 percent of Deckers' outstanding shares.
Francesca's (FRAN) has witnessed a significant price decline in the past four weeks, and is seeing negative earnings estimate revisions as well.
After months of turning up the heat on Deckers Outdoor Corp, hedge fund Marcato Capital Management recently proposed a settlement that the UGG boot maker rejected, a filing released on Monday shows. "Unfortunately Deckers swiftly rejected Marcato's settlement proposal and made clear through its counsel that Deckers was not interested in pursuing any settlement discussions with Marcato," Marcato Managing Partner Mick McGuire wrote to Deckers Chairman John Gibbons. In the letter McGuire said that part of his offer to settle included putting three Marcato nominees on the board.
Marcato said on Monday it was open to a proposal by Deckers Outdoor Corp's board to interview the activist investor's nominees only if the footwear maker was willing to reach a settlement agreement ahead of a shareholder meeting this week. Tensions have mounted between the two sides for months and may be resolved only at Deckers' upcoming annual meeting, on Dec. 14, when shareholders vote on board nominees. Marcato, which has an 8.5 percent stake in the footwear maker, has nominated three members, down from its earlier proposal to replace the company's entire nine-member board.
Marcato said Deckers Outdoor Corp's board agreed to interview its nominees ahead of the annual shareholder meeting this week, a move it called a record-building exercise and to gain advantage in a contentious ...
The last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment among investors who seek to profit from falling equity prices. Index (PMI) data, output in the Consumer Goods sector is rising.
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The influential advisory firm now said it is recommending that shareholders support three dissident director candidates nominated by the activist.
Proxy advisory firm Institutional Shareholder Services on Wednesday suggested shareholders back hedge fund Marcato's choice of directors at Deckers Outdoor Corp , switching its recommendation after the U.S. fund made changes. In one of the season's most hotly contested proxy contests, activist investor Marcato Capital Management has proposed its own slate of directors to influence strategy at the maker of UGG boots. On Wednesday, ISS, a proxy advisory firm that issues voting recommendations for shareholders, wholly threw its weight behind Marcato, saying that the Deckers board has been too slow in addressing problems at the company and that it was time for a shake-up.
A Relative Strength Rating upgrade for Deckers Outdoor shows improving technical performance.
A U.S. hedge fund that wants to make changes to the board of UGG boot maker Deckers Outdoor Corp reduced its demand on Monday from changing all nine directors to just three, likely improving its chance of victory. With ten days to go before shareholders cast votes in one of the season's most bitter proxy contests, activist investor Marcato Capital Management took an unusual step by essentially mounting a new contest with a smaller slate of directors. The San Francisco-based hedge fund, which owns 8.5 percent of Deckers, said in a regulatory filing that it was proposing three directors - after having spent months campaigning to replace all nine members of the board.
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Deckers Outdoor shows improving price performance, earning an upgrade to its IBD Relative Strength Rating from 80 to 84.
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