Wolverine World Wide, Inc. (NYSE:WWW) Sees Large Growth in Short Interest

Wolverine World Wide, Inc. (NYSE:WWW) was the recipient of a significant increase in short interest in the month of 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. Currently, 8.4% of the company’s stock are short sold. Based on an average daily volume of 1,952,835 shares, the short-interest ratio is presently 3.4 days. Based on an average daily volume of 1,952,835 shares, the short-interest ratio is presently 3.4 days. Currently, 8.4% of the company’s stock are short sold.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Piper Sandler downgraded Wolverine World Wide from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $22.00 to $16.00 in a report on Wednesday, January 7th. Robert W. Baird lowered their price target on Wolverine World Wide from $35.00 to $23.00 and set an “outperform” rating for the company in a research report on Thursday, November 6th. Exane BNP Paribas downgraded Wolverine World Wide from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $38.00 to $19.00 in a report on Thursday, January 22nd. UBS Group reduced their price objective on Wolverine World Wide from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. Finally, Wall Street Zen downgraded shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Wolverine World Wide currently has a consensus rating of “Hold” and a consensus price target of $21.11.

Wolverine World Wide Stock Performance

Shares of Wolverine World Wide stock traded down $0.62 during trading hours on Tuesday, reaching $17.57. The company’s stock had a trading volume of 828,038 shares, compared to its average volume of 1,731,455. Wolverine World Wide has a one year low of $9.58 and a one year high of $32.80. The company’s 50 day simple moving average is $18.03 and its 200 day simple moving average is $22.74. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.79 and a current ratio of 1.34. The stock has a market cap of $1.44 billion, a P/E ratio of 16.90 and a beta of 1.91.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings results on Wednesday, November 5th. The textile maker reported $0.36 EPS 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 analyst estimates of $461.46 million. During the same quarter in the prior year, the firm earned $0.28 earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis. Wolverine World Wide has set its FY 2025 guidance at 1.290-1.340 EPS. As a group, analysts expect that Wolverine World Wide will post 1.23 EPS for the current fiscal year.

Insider Buying and Selling

In other Wolverine World Wide news, Director Jack Boyle bought 6,250 shares of Wolverine World Wide stock in a transaction dated Friday, November 7th. The stock was acquired at an average cost of $15.77 per share, with a total value of $98,562.50. Following the completion of the acquisition, the director owned 6,250 shares of the company’s stock, valued at approximately $98,562.50. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Demonty Price acquired 25,000 shares of the company’s stock in a transaction on Friday, November 7th. The stock was purchased at an average cost of $15.77 per share, for a total transaction of $394,250.00. Following the completion of the purchase, the director directly owned 75,000 shares in the company, valued at $1,182,750. This trade represents a 50.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 33,250 shares of company stock valued at $524,573 in the last three months. 2.28% of the stock is owned by corporate insiders.

Institutional Trading of Wolverine World Wide

A number of large investors have recently added to or reduced their stakes in the business. Oxbow Capital Management HK Ltd acquired a new position in shares of Wolverine World Wide during the 3rd quarter worth $54,431,000. Hennessy Advisors Inc. acquired a new stake in shares of Wolverine World Wide in the 3rd quarter valued at $36,556,000. Callodine Capital Management LP boosted its holdings in Wolverine World Wide by 41.0% in the second quarter. Callodine Capital Management LP now owns 4,297,586 shares of the textile maker’s stock worth $77,700,000 after purchasing an additional 1,250,515 shares in the last quarter. Alua Capital Management LP acquired a new position in Wolverine World Wide during the third quarter worth $33,231,000. Finally, Massachusetts Financial Services Co. MA bought a new position in Wolverine World Wide during the fourth quarter valued at about $21,687,000. 90.25% of the stock is currently owned by institutional investors.

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.