Deckers Outdoor Shares Jump After Marcato Capital Discloses 6% Stake

Shares of Deckers Outdoor Corp. jumped 6.6% in late trade Wednesday, after Marcato Capital Management said it had purchased 1.9 million shares in the company, equal to a 6% stake. The hedge fund made the disclosure in a filing with the Securities and Exchange Commission. Deckers sells footwear, clothing and accessories for casual wear and outdoor activities. Shares have gained 0.2% in the last 12 months, underperforming the S&P 500 , which has gained 24%.