Jump Financial LLC Takes $1.37 Million Position in Wolverine World Wide, Inc. $WWW

Key Points

• Jump Financial LLC acquired 98,299 shares of Wolverine World Wide, valued at approximately $1.37 million, giving it a 0.12% ownership stake in the company.
• Several institutional investors, including PNC Financial Services and MetLife Investment Management, have recently increased their holdings in Wolverine World Wide, reflecting strong interest with 90.25% of the stock currently owned by institutional investors.
• Wolverine World Wide's stock has seen analysts raise price targets, with Robert W. Baird and UBS both issuing higher price objectives, resulting in a consensus rating of "Buy" and an average target price of $27.50.

Jump Financial LLC acquired a new stake in shares of Wolverine World Wide, Inc. (NYSE:WWW - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 98,299 shares of the textile maker's stock, valued at approximately $1,367,000. Jump Financial LLC owned about 0.12% of Wolverine World Wide at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of WWW. WCM Investment Management LLC bought a new position in Wolverine World Wide during the first quarter valued at about $7,164,000. Nuveen Asset Management LLC raised its holdings in Wolverine World Wide by 179.1% during the fourth quarter. Nuveen Asset Management LLC now owns 628,338 shares of the textile maker's stock valued at $13,949,000 after buying an additional 403,176 shares in the last quarter. Driehaus Capital Management LLC raised its holdings in Wolverine World Wide by 135.5% during the fourth quarter. Driehaus Capital Management LLC now owns 593,693 shares of the textile maker's stock valued at $13,180,000 after buying an additional 341,601 shares in the last quarter. Manning & Napier Advisors LLC raised its holdings in Wolverine World Wide by 64.6% during the first quarter. Manning & Napier Advisors LLC now owns 800,000 shares of the textile maker's stock valued at $11,128,000 after buying an additional 313,997 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Wolverine World Wide by 36.1% during the first quarter. Invesco Ltd. now owns 951,235 shares of the textile maker's stock valued at $13,232,000 after buying an additional 252,331 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company's stock.

Wolverine World Wide Trading Down 1.2%

Shares of WWW stock traded down $0.39 during trading hours on Tuesday, reaching $31.55. The company had a trading volume of 953,602 shares, compared to its average volume of 1,537,312. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of 30.95 and a beta of 1.80. Wolverine World Wide, Inc. has a 1-year low of $9.58 and a 1-year high of $32.59. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.24 and a quick ratio of 0.75. The company has a 50 day moving average of $23.92 and a 200 day moving average of $17.96.

Wolverine World Wide (NYSE:WWW - Get Free Report) last released its earnings results on Wednesday, August 6th. The textile maker reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.12. The firm had revenue of $474.20 million during the quarter, compared to analysts' expectations of $447.82 million. Wolverine World Wide had a return on equity of 31.99% and a net margin of 4.73%.The company's revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 EPS. On average, equities research analysts anticipate that Wolverine World Wide, Inc. will post 1.23 EPS for the current year.

Wolverine World Wide Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Wednesday, October 1st will be issued a $0.10 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $0.40 annualized dividend and a dividend yield of 1.3%. Wolverine World Wide's dividend payout ratio (DPR) is presently 39.22%.

Analyst Ratings Changes

Several equities analysts have weighed in on WWW shares. Wall Street Zen upgraded Wolverine World Wide from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. UBS Group lifted their price objective on Wolverine World Wide from $30.00 to $36.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Telsey Advisory Group reiterated a "market perform" rating and issued a $29.00 price objective (up from $17.00) on shares of Wolverine World Wide in a research note on Wednesday, August 6th. Stifel Nicolaus lifted their price objective on Wolverine World Wide from $30.00 to $36.00 and gave the stock a "buy" rating in a research note on Wednesday, August 27th. Finally, KeyCorp reiterated an "overweight" rating and issued a $32.00 price objective (up from $25.00) on shares of Wolverine World Wide in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $27.50.

Insider Activity

In other news, Director Nicholas T. Long sold 12,854 shares of the firm's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $31.84, for a total value of $409,271.36. Following the completion of the transaction, the director owned 76,268 shares in the company, valued at $2,428,373.12. This trade represents a 14.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brenda J. Lauderback sold 12,854 shares of the firm's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $32.14, for a total value of $413,127.56. Following the completion of the transaction, the director owned 48,675 shares of the company's stock, valued at $1,564,414.50. The trade was a 20.89% decrease in their position. The disclosure for this sale can be found here. 2.28% of the stock is owned by company insiders.

Wolverine World Wide 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.