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

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

Insider Buying and Selling

In other Wolverine World Wide news, Director Nicholas T. Long bought 2,000 shares of the stock in a transaction on Friday, November 7th. The shares were bought at an average price of $15.88 per share, with a total value of $31,760.00. Following the purchase, the director directly owned 78,268 shares in the company, valued at $1,242,895.84. This trade represents a 2.62% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jack Boyle bought 6,250 shares of the business’s stock in a transaction on Friday, November 7th. The stock was bought at an average cost of $15.77 per share, with a total value of $98,562.50. Following the completion of the purchase, the director directly owned 6,250 shares in the company, valued at approximately $98,562.50. The trade was a ? increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired a total of 33,250 shares of company stock valued at $524,573 over the last 90 days. Insiders own 2.28% of the company’s stock.

Institutional Trading of Wolverine World Wide

Institutional investors have recently added to or reduced their stakes in the company. Oxbow Capital Management HK Ltd bought a new stake in Wolverine World Wide during the third quarter worth $54,431,000. Hennessy Advisors Inc. bought a new stake in Wolverine World Wide during the third quarter valued at $36,556,000. Callodine Capital Management LP increased 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 stake in Wolverine World Wide in the third quarter worth $33,231,000. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of Wolverine World Wide during the fourth quarter worth approximately $21,687,000. 90.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus set a $25.00 target price on shares of Wolverine World Wide in a report on Thursday, November 6th. UBS Group reduced their price objective on shares of Wolverine World Wide from $28.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Argus reissued a “hold” rating on shares of Wolverine World Wide in a research report on Friday, January 23rd. Telsey Advisory Group restated a “market perform” rating and issued a $18.00 price target (down previously from $29.00) on shares of Wolverine World Wide in a research report on Wednesday, November 5th. Finally, KeyCorp dropped their price objective on shares of Wolverine World Wide from $32.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. 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 company. According to 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

WWW stock traded up $0.48 during midday trading on Monday, hitting $18.20. 1,447,919 shares of the company traded hands, compared to its average volume of 1,838,498. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 17.50 and a beta of 1.91. Wolverine World Wide has a twelve month low of $9.58 and a twelve month high of $32.80. The company has a quick ratio of 0.79, a current ratio of 1.34 and a debt-to-equity ratio of 1.40. The business has a 50 day simple moving average of $17.94 and a 200-day simple moving average of $22.77.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings data on Wednesday, November 5th. The textile maker reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.03. Wolverine World Wide had a return on equity of 31.43% and a net margin of 4.73%.The firm had revenue of $470.30 million during the quarter, compared to analyst estimates of $461.46 million. During the same period in the prior year, the company posted $0.28 earnings per share. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. Wolverine World Wide has set its FY 2025 guidance at 1.290-1.340 EPS. As a group, equities research analysts predict that Wolverine World Wide will post 1.23 earnings per share for the current year.

About Wolverine World Wide

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.