Wolverine World Wide (NYSE:WWW) Cut to Hold at StockNews.com

Wolverine World Wide (NYSE:WWW) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

Other analysts have also issued reports about the company. Telsey Advisory Group reiterated a “market perform” rating and set a $15.00 price objective on shares of Wolverine World Wide in a report on Thursday, November 7th. Stifel Nicolaus upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and increased their price objective for the stock from $21.00 to $29.00 in a report on Wednesday, December 11th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $20.38.

Wolverine World Wide Price Performance

WWW opened at $18.39 on Tuesday. The stock has a fifty day moving average of $22.67 and a 200-day moving average of $18.68. The firm has a market capitalization of $1.47 billion, a P/E ratio of -20.66 and a beta of 1.88. Wolverine World Wide has a 12-month low of $8.25 and a 12-month 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.

Insider Buying and Selling at Wolverine World Wide

In other news, insider Isabel Soriano sold 7,687 shares of the firm’s stock in a transaction dated 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 directly owns 34,206 shares of the company’s stock, valued at approximately $806,235.42. This trade represents a 18.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.28% of the company’s stock.

Institutional Investors Weigh In On Wolverine World Wide

Several hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC grew its position in shares of Wolverine World Wide by 12.5% in the fourth quarter. GAMMA Investing LLC now owns 5,057 shares of the textile maker’s stock valued at $112,000 after purchasing an additional 563 shares during the last quarter. HighTower Advisors LLC grew its position in shares of Wolverine World Wide by 5.2% in the fourth quarter. HighTower Advisors LLC now owns 11,526 shares of the textile maker’s stock valued at $256,000 after purchasing an additional 574 shares during the last quarter. Signaturefd LLC grew its position in Wolverine World Wide by 88.8% during the fourth quarter. Signaturefd LLC now owns 1,450 shares of the textile maker’s stock worth $32,000 after buying an additional 682 shares in the last quarter. Natixis Advisors LLC grew its position in Wolverine World Wide by 3.8% during the fourth quarter. Natixis Advisors LLC now owns 28,608 shares of the textile maker’s stock worth $635,000 after buying an additional 1,035 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in Wolverine World Wide during the fourth quarter worth about $25,000. 90.25% of the stock is owned by institutional investors and hedge funds.

About Wolverine World Wide

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.