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

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

Insider Buying and Selling

In related news, Director Nicholas T. Long acquired 2,000 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were acquired at an average cost of $15.88 per share, for a total transaction of $31,760.00. Following the completion of the acquisition, the director directly owned 78,268 shares in the company, valued at approximately $1,242,895.84. The trade was a 2.62% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jack Boyle bought 6,250 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director owned 6,250 shares of the company’s stock, valued at $98,562.50. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 33,250 shares of company stock worth $524,573 over the last three months. 2.28% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Wolverine World Wide

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Oxbow Capital Management HK Ltd purchased a new stake in Wolverine World Wide in the 3rd quarter valued at about $54,431,000. Hennessy Advisors Inc. bought a new position in Wolverine World Wide in the third quarter worth about $36,556,000. Callodine Capital Management LP raised its stake in shares of Wolverine World Wide by 41.0% during the 2nd quarter. Callodine Capital Management LP now owns 4,297,586 shares of the textile maker’s stock worth $77,700,000 after acquiring an additional 1,250,515 shares in the last quarter. Alua Capital Management LP acquired a new position in shares of Wolverine World Wide during the third quarter worth $33,231,000. Finally, Massachusetts Financial Services Co. MA purchased a new stake in Wolverine World Wide in the fourth quarter valued at about $21,687,000. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Wolverine World Wide Trading Up 2.7%

WWW stock traded up $0.48 on Monday, reaching $18.20. The company’s stock had a trading volume of 1,447,919 shares, compared to its average volume of 1,838,498. The business has a fifty day simple moving average of $17.94 and a two-hundred day simple moving average of $22.77. The firm has a market cap of $1.49 billion, a PE ratio of 17.50 and a beta of 1.91. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.79 and a current ratio of 1.34. Wolverine World Wide has a 12-month low of $9.58 and a 12-month high of $32.80.

Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings results on Wednesday, November 5th. The textile maker reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $470.30 million for the quarter, compared to analysts’ expectations of $461.46 million. During the same quarter in the previous year, the business posted $0.28 EPS. Wolverine World Wide’s revenue 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, research analysts forecast that Wolverine World Wide will post 1.23 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. BNP Paribas Exane set a $19.00 price objective on shares of Wolverine World Wide and gave the company a “neutral” rating in a report on Thursday, January 22nd. UBS Group decreased their price target on Wolverine World Wide from $28.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Exane BNP Paribas downgraded shares of Wolverine World Wide from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $38.00 to $19.00 in a research report on Thursday, January 22nd. Wall Street Zen downgraded Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. 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 analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $21.11.

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.