Wolverine World Wide (NYSE:WWW) Earns “Market Perform” Rating from Telsey Advisory Group

Wolverine World Wide (NYSE:WWW)‘s stock had its “market perform” rating reaffirmed by analysts at Telsey Advisory Group in a research report issued on Wednesday,Benzinga reports. They currently have a $23.00 price objective on the textile maker’s stock. Telsey Advisory Group’s price target would suggest a potential upside of 21.92% from the company’s current price.

A number of other analysts have also weighed in on WWW. Stifel Nicolaus raised Wolverine World Wide from a “hold” rating to a “buy” rating and upped their price objective for the stock from $21.00 to $29.00 in a research report on Wednesday, December 11th. StockNews.com lowered Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.38.

Wolverine World Wide Trading Up 2.5 %

WWW opened at $18.87 on Wednesday. Wolverine World Wide has a 52 week low of $8.25 and a 52 week high of $24.64. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 1.91. The business has a fifty day simple moving average of $22.56 and a 200-day simple moving average of $18.67. The firm has a market cap of $1.51 billion, a P/E ratio of -21.20 and a beta of 1.88.

Insiders Place Their Bets

In related news, insider Isabel Soriano sold 7,687 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $23.57, for a total value of $181,182.59. Following the sale, the insider now owns 34,206 shares in the company, valued at $806,235.42. This represents a 18.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.28% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Wolverine World Wide

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its position in shares of Wolverine World Wide by 7.5% in the second quarter. The Manufacturers Life Insurance Company now owns 30,512 shares of the textile maker’s stock valued at $413,000 after buying an additional 2,138 shares during the last quarter. GAMMA Investing LLC grew its stake in Wolverine World Wide by 15.9% in the 3rd quarter. GAMMA Investing LLC now owns 4,494 shares of the textile maker’s stock worth $78,000 after acquiring an additional 616 shares during the period. CWM LLC raised its holdings in Wolverine World Wide by 237.0% in the 3rd quarter. CWM LLC now owns 8,843 shares of the textile maker’s stock valued at $154,000 after acquiring an additional 6,219 shares during the last quarter. US Bancorp DE raised its holdings in Wolverine World Wide by 487.8% in the 3rd quarter. US Bancorp DE now owns 36,776 shares of the textile maker’s stock valued at $641,000 after acquiring an additional 30,519 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its stake in shares of Wolverine World Wide by 33.9% during the 3rd quarter. GSA Capital Partners LLP now owns 96,615 shares of the textile maker’s stock worth $1,683,000 after purchasing an additional 24,477 shares during the period. Institutional investors and hedge funds own 90.25% of the company’s stock.

Wolverine World Wide Company Profile

Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories in the United States, Europe, the Middle East, Africa, the Asia Pacific, Canada and Latin America. It operates through Active Group and Work Group segments. The company offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' footwear; industrial work boots and apparel; and uniform shoes and boots.