Pinnacle Investment Management Ltd. acquired a new stake in Deckers Outdoor Corporation. The firm purchased 20,000 shares, valued at approximately $2.03 million.
Deckers is now the third-largest holding in Pinnacle's portfolio. This acquisition follows recent position changes by other large institutional investors.
A quality investing analysis highlighted Deckers as a strong candidate. The report cited industry-leading profit margins and a debt-free balance sheet. Forecasts project high-single-digit growth.
The company's Price-to-Earnings (P/E) ratio is fair relative to its historical metrics and the broader market. This suggests the stock is not overly expensive given its growth profile.