Wingstop (NASDAQ:WING) Stock Price Down 3.1% on Insider Selling

Wingstop Inc. (NASDAQ:WINGGet Free Report)’s share price dropped 3.1% during trading on Monday after an insider sold shares in the company. The stock traded as low as $375.78 and last traded at $378.05. Approximately 75,947 shares changed hands during trading, a decline of 84% from the average daily volume of 475,244 shares. The stock had previously closed at $390.02.

Specifically, CEO Michael Skipworth sold 10,843 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $337.40, for a total value of $3,658,428.20. Following the completion of the transaction, the chief executive officer now owns 17,107 shares in the company, valued at approximately $5,771,901.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Michael Skipworth sold 10,843 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $337.40, for a total value of $3,658,428.20. Following the sale, the chief executive officer now directly owns 17,107 shares of the company’s stock, valued at approximately $5,771,901.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Marisa Carona sold 2,586 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $371.96, for a total transaction of $961,888.56. Following the completion of the transaction, the senior vice president now directly owns 1,646 shares in the company, valued at $612,246.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,881 shares of company stock valued at $7,093,305. 0.36% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on WING. Wedbush lifted their price target on shares of Wingstop from $400.00 to $425.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. TD Cowen restated a “buy” rating and issued a $410.00 target price on shares of Wingstop in a report on Wednesday, May 1st. Morgan Stanley boosted their target price on shares of Wingstop from $280.00 to $315.00 and gave the company an “equal weight” rating in a report on Friday, April 12th. Stephens reaffirmed an “overweight” rating and issued a $425.00 price target on shares of Wingstop in a research note on Wednesday, May 1st. Finally, Robert W. Baird lifted their price target on shares of Wingstop from $390.00 to $405.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $330.39.

View Our Latest Research Report on WING

Wingstop Stock Performance

The firm has a market cap of $11.37 billion, a price-to-earnings ratio of 137.81, a PEG ratio of 5.35 and a beta of 1.67. The business’s 50 day moving average price is $365.62 and its 200 day moving average price is $299.99.

Wingstop (NASDAQ:WINGGet Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The restaurant operator reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.22. Wingstop had a negative return on equity of 19.64% and a net margin of 16.75%. The company had revenue of $145.70 million for the quarter, compared to analyst estimates of $136.34 million. During the same quarter last year, the firm posted $0.59 EPS. The firm’s revenue for the quarter was up 34.0% on a year-over-year basis. Sell-side analysts anticipate that Wingstop Inc. will post 3.39 earnings per share for the current fiscal year.

Wingstop Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date is Thursday, May 16th. Wingstop’s dividend payout ratio (DPR) is currently 31.32%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Wingstop by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 2,924,326 shares of the restaurant operator’s stock valued at $1,071,473,000 after purchasing an additional 104,780 shares during the last quarter. American Century Companies Inc. raised its position in Wingstop by 29.4% during the 3rd quarter. American Century Companies Inc. now owns 1,626,558 shares of the restaurant operator’s stock worth $292,520,000 after buying an additional 370,032 shares during the last quarter. Wellington Management Group LLP raised its position in Wingstop by 11.6% during the 3rd quarter. Wellington Management Group LLP now owns 1,167,230 shares of the restaurant operator’s stock worth $209,915,000 after buying an additional 121,134 shares during the last quarter. Federated Hermes Inc. raised its position in Wingstop by 1.8% during the 4th quarter. Federated Hermes Inc. now owns 1,107,852 shares of the restaurant operator’s stock worth $284,253,000 after buying an additional 19,540 shares during the last quarter. Finally, Artisan Partners Limited Partnership raised its position in Wingstop by 64.3% during the 3rd quarter. Artisan Partners Limited Partnership now owns 1,079,939 shares of the restaurant operator’s stock worth $194,216,000 after buying an additional 422,727 shares during the last quarter.

Wingstop Company Profile

(Get Free Report)

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand. Its restaurants offer classic wings, boneless wings, tenders, and hand-sauced-and-tossed in various flavors, as well as chicken sandwiches with fries and hand-cut carrots and celery that are cooked-to-order.

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