Short Interest in Wolverine World Wide, Inc. (NYSE:WWW) Grows By 31.3%

Wolverine World Wide, Inc. (NYSE:WWW) was the recipient of a large increase in short interest in January. As of January 15th, there was short interest totaling 6,720,798 shares, an increase of 31.3% from the December 31st total of 5,118,979 shares. Based on an average trading volume of 1,952,835 shares, the days-to-cover ratio is presently 3.4 days. Approximately 8.4% of the company’s stock are short sold. Approximately 8.4% of the company’s stock are short sold. Based on an average trading volume of 1,952,835 shares, the days-to-cover ratio is presently 3.4 days.

Wolverine World Wide Price Performance

Shares of Wolverine World Wide stock opened at $17.57 on Wednesday. The firm has a market capitalization of $1.44 billion, a PE ratio of 16.90 and a beta of 1.91. The company has a current ratio of 1.34, a quick ratio of 0.79 and a debt-to-equity ratio of 1.40. Wolverine World Wide has a 12 month low of $9.58 and a 12 month high of $32.80. The business’s 50-day moving average price is $18.03 and its 200-day moving average price is $22.74.

Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings results on Wednesday, November 5th. The textile maker reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.03. Wolverine World Wide had a net margin of 4.73% and a return on equity of 31.43%. The business had revenue of $470.30 million during the quarter, compared to the consensus estimate of $461.46 million. During the same period in the previous year, the firm posted $0.28 earnings per share. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. Sell-side analysts forecast that Wolverine World Wide will post 1.23 EPS for the current fiscal year.

Insider Activity

In other news, Director Nicholas T. Long acquired 2,000 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was purchased at an average price of $15.88 per share, for a total transaction of $31,760.00. Following the purchase, the director owned 78,268 shares in the company, valued at approximately $1,242,895.84. This represents a 2.62% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jack Boyle bought 6,250 shares of the company’s stock in a transaction on Friday, November 7th. The shares were purchased at an average cost of $15.77 per share, for a total transaction of $98,562.50. Following the transaction, the director owned 6,250 shares in the company, valued at approximately $98,562.50. This represents a ? increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 33,250 shares of company stock worth $524,573 over the last quarter. Insiders own 2.28% of the company’s stock.

Institutional Trading of Wolverine World Wide

Large investors have recently modified their holdings of the business. Hara Capital LLC bought a new stake in Wolverine World Wide during the 2nd quarter valued at approximately $30,000. Canada Pension Plan Investment Board purchased a new position in shares of Wolverine World Wide in the 2nd quarter valued at approximately $34,000. Covestor Ltd boosted its position in shares of Wolverine World Wide by 16,025.0% during the third quarter. Covestor Ltd now owns 1,290 shares of the textile maker’s stock valued at $35,000 after purchasing an additional 1,282 shares in the last quarter. Aster Capital Management DIFC Ltd boosted its position in shares of Wolverine World Wide by 1,605.8% during the third quarter. Aster Capital Management DIFC Ltd now owns 2,661 shares of the textile maker’s stock valued at $73,000 after purchasing an additional 2,505 shares in the last quarter. Finally, Hilltop National Bank purchased a new stake in Wolverine World Wide in the second quarter worth $85,000. 90.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on WWW shares. Argus reissued a “hold” rating on shares of Wolverine World Wide in a research report on Friday, January 23rd. BNP Paribas Exane set a $19.00 price objective on Wolverine World Wide and gave the company a “neutral” rating in a report on Thursday, January 22nd. Piper Sandler downgraded Wolverine World Wide from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $22.00 to $16.00 in a research report on Wednesday, January 7th. Wall Street Zen cut Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Finally, Exane BNP Paribas downgraded Wolverine World Wide from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $38.00 to $19.00 in a research note on Thursday, January 22nd. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $21.11.

Wolverine World Wide Company Profile

Wolverine World Wide, Inc (NYSE: WWW) is a global footwear and apparel company headquartered in Rockford, Michigan. The company designs, manufactures and markets a diversified portfolio of casual, active and performance lifestyle brands. Wolverine World Wide’s offerings span multiple price points and consumer segments, with products that include outdoor and trail footwear, running shoes, casual sneakers, boat shoes, work boots and related apparel and accessories.

Key brands in Wolverine World Wide’s portfolio include Merrell, an outdoor performance footwear brand; Saucony, known for running shoes and athletic gear; Sperry, which popularized boat shoes; Hush Puppies, a casual and comfort?oriented line; and Keds, a heritage sneaker label.