(Reuters) - Activist hedge fund Marcato Capital Management LP reported a 6 percent stake in Deckers Outdoor Corp (DECK.N), saying the footwear and apparel maker’s shares were “undervalued” and an “attractive investment”.
Marcato Capital said it intends to hold discussions with Deckers regarding its business, strategies and other matters.
Marcato said the talks may include options to boost stockholder value through strategic alternatives such as acquisitions.
Deckers shares were up more than 9 percent at $49.07 in late afternoon trading on Wednesday.
Reporting by Sruthi Shankar in Bengaluru; Editing by Savio D'Souza