Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Wolverine World Wide Inc. shares valued at $161,300 were purchased by Long Nicholas T. on Feb 24. At $16.13 per share, Long Nicholas T. acquired 10,000 shares. The insider’s holdings grew to 26,334 shares worth approximately $0.45 million following the completion of this transaction.
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Also, BOROMISA JEFFREY M purchased 100,000 shares, netting a total of over 1,049,000 in proceeds. Following the buying of shares at $10.49 each, the insider now holds 156,900 shares.
Before that, HOFFMAN BRENDAN had added 7,500 shares to its account. In a trade valued at $76,875, the President and CEO bought Wolverine World Wide Inc. shares for $10.25 each. Upon closing the transaction, the insider’s holdings increased to 7,500 shares, worth approximately $0.82 million.
As published in a research note from Piper Sandler on January 05, 2023, Wolverine World Wide Inc. [WWW] has been rated down from an Overweight to a Neutral and the price target has been revised to $13 from $23. This represents a -30.54% premium over Wednesday’s closing price. Analysts at Argus downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in mid August. Earlier on July 20, 2022, Stifel downgraded its rating. Their new recommendation was “a Hold” for WWW stock which previously was a “a Buy”.
Analyzing WWW Stock Performance
On Wednesday, Wolverine World Wide Inc. [NYSE: WWW] rose 1.31% to $16.97. The stock’s lowest price that day was $16.87, but it reached a high of $17.34 in the same session. During the last five days, there has been a surge of approximately 6.13%. Over the course of the year, Wolverine World Wide Inc. shares have jumped approximately 55.26%. Shares of the company reached a 52-week high of $17.34 on 03/01/23 and a 52-week low of $10.39 on 01/05/23. A 50-day SMA is recorded $13.72, while a 200-day SMA reached $17.09. Nevertheless, trading volume fell to 1.31 million shares from 1.78 million shares the previous day.
Support And Resistance Levels for Wolverine World Wide Inc. (WWW)
According to the 24-hour chart, there is a support level at 16.78, which, if violated, would cause prices to drop to 16.59. In the upper region, resistance lies at 17.25. The next price resistance is at 17.53. RSI (Relative Strength Index) is 63.70 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.95, which suggests the price will decrease in the coming days. Percent R is at 11.67%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Wolverine World Wide Inc. subject to short interest?
Stocks of Wolverine World Wide Inc. saw a sharp steep in short interest on Jan 12, 2023 dropping by -0.45 million shares to 2.6 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 3.05 million shares. A decline of -17.31% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.53 of the overall float, the days-to-cover ratio (short ratio) decline to 1.53.
Which companies own the most shares of Wolverine World Wide Inc. (WWW)?
According to BlackRock Fund Advisors filings, the company currently owns 11,867,290 shares, which is about 15.07% of the total WWW shares outstanding. The investor’s shares have appreciated by 219,749 from its previous 13-F filing of 11647541.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $146,067,796. EARNEST Partners LLC reduced a -9.55% interest valued at $104.09 million while SSgA Funds Management, Inc. purchased a 204,615 stake. A total of -1,166,872 shares of Wolverine World Wide Inc. were bought by Managed Account Advisors LLC during the quarter, and -31,974 were sold by Atlanta Capital Management Co. LL. In its current portfolio, Diamond Hill Capital Management, holds 1,918,027 shares valued at $30.94 million.
In terms of Wolverine World Wide Inc. share price expectations, FactSet research, analysts set an average price target of $16.71 in the next 12 months, up nearly 1.49% from the previous closing price of $16.75. Analysts anticipate Wolverine World Wide Inc. stock to reach $20.00 by 2023, with the lowest price target being $13.00. In spite of this, 9 analysts ranked Wolverine World Wide Inc. stock as a Hold at the end of 2023.