Wolverine World Wide Target of Unusually High Options Trading (WWW)
Wolverine World Wide, Inc. (NYSE:WWW) was the recipient of unusually large options trading activity on Friday. Investors purchased 1,148 put options on the company. This is an increase of 1,752% compared to the average volume of 62 put options.
Several research firms recently weighed in on WWW. Pivotal Research cut shares of Wolverine World Wide from a “buy” rating to a “hold” rating and set a $33.00 price objective on the stock. in a research report on Friday. Telsey Advisory Group upped their price objective on shares of Wolverine World Wide from $29.00 to $30.00 and gave the stock a “market perform” rating in a research report on Thursday, November 9th. Buckingham Research upped their price objective on shares of Wolverine World Wide from $24.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, November 9th. Piper Jaffray Companies restated a “hold” rating and issued a $26.00 price objective on shares of Wolverine World Wide in a research report on Wednesday, November 8th. Finally, Zacks Investment Research cut shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Saturday, January 6th. Ten equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $27.25.
Wolverine World Wide (WWW) opened at $29.82 on Monday. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.09 and a quick ratio of 2.06. The firm has a market cap of $2,853.21, a P/E ratio of 49.70, a P/E/G ratio of 1.24 and a beta of 0.92. Wolverine World Wide has a 52-week low of $23.34 and a 52-week high of $33.82.
In other news, Director Joseph R. Gromek sold 18,928 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $29.14, for a total value of $551,561.92. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael Jeppesen sold 11,807 shares of the stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $27.97, for a total transaction of $330,241.79. The disclosure for this sale can be found here. Corporate insiders own 5.65% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Wolverine World Wide by 50.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,883 shares of the textile maker’s stock valued at $156,000 after acquiring an additional 1,646 shares during the last quarter. Public Employees Retirement Association of Colorado bought a new position in Wolverine World Wide during the fourth quarter valued at approximately $171,000. Community Financial Services Group LLC bought a new position in Wolverine World Wide during the fourth quarter valued at approximately $212,000. Advisory Services Network LLC grew its position in Wolverine World Wide by 5.3% during the second quarter. Advisory Services Network LLC now owns 8,336 shares of the textile maker’s stock valued at $234,000 after acquiring an additional 421 shares during the last quarter. Finally, Shelton Capital Management bought a new position in Wolverine World Wide during the second quarter valued at approximately $265,000. Institutional investors and hedge funds own 92.26% of the company’s stock.
Wolverine World Wide Company Profile
Wolverine World Wide, Inc is a designer, manufacturer and marketer of a range of casual footwear and apparel, outdoor and athletic footwear and apparel, children’s footwear, industrial work boots and apparel, and uniform shoes and boots. It operates in four segments: Wolverine Outdoor & Lifestyle Group, which offers Merrell footwear and apparel, Cat footwear, Hush Puppies footwear and apparel, and Chaco footwear; Wolverine Boston Group, which offers Sperry footwear and apparel, Saucony footwear and apparel, and Keds footwear and apparel; Wolverine Heritage Group, which offers Wolverine footwear and apparel, Bates uniform footwear, Harley-Davidson footwear and HyTest safety footwear, and Wolverine Multi-Brand Group, which offers Stride Rite footwear and apparel, and its multi-brand consumer-direct businesses.
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