Verition Fund Management LLC Sells 6,157 Shares of Wingstop Inc. (NASDAQ:WING)

Verition Fund Management LLC lowered its stake in shares of Wingstop Inc. (NASDAQ:WINGFree Report) by 8.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 63,028 shares of the restaurant operator’s stock after selling 6,157 shares during the quarter. Verition Fund Management LLC owned approximately 0.21% of Wingstop worth $16,172,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Swiss National Bank increased its stake in shares of Wingstop by 0.9% in the 3rd quarter. Swiss National Bank now owns 65,900 shares of the restaurant operator’s stock valued at $11,851,000 after buying an additional 600 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Wingstop by 7.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 276,190 shares of the restaurant operator’s stock valued at $49,670,000 after purchasing an additional 19,842 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of Wingstop by 21.2% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 3,357 shares of the restaurant operator’s stock worth $604,000 after buying an additional 587 shares during the last quarter. Pathstone Family Office LLC boosted its stake in Wingstop by 40.6% in the third quarter. Pathstone Family Office LLC now owns 2,745 shares of the restaurant operator’s stock valued at $494,000 after acquiring an additional 792 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in Wingstop by 85.9% during the 3rd quarter. Canada Pension Plan Investment Board now owns 13,200 shares of the restaurant operator’s stock worth $2,374,000 after acquiring an additional 6,100 shares during the period.

Insider Activity at Wingstop

In other news, Director Kate S. Lavelle sold 750 shares of Wingstop stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $394.57, for a total transaction of $295,927.50. Following the completion of the transaction, the director now directly owns 3,567 shares in the company, valued at approximately $1,407,431.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Wingstop news, Director Kate S. Lavelle sold 750 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $394.57, for a total value of $295,927.50. Following the transaction, the director now directly owns 3,567 shares in the company, valued at $1,407,431.19. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Albert G. Mcgrath sold 4,230 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $396.40, for a total transaction of $1,676,772.00. Following the sale, the senior vice president now owns 8,170 shares of the company’s stock, valued at approximately $3,238,588. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,191 shares of company stock worth $2,443,547. Insiders own 0.36% of the company’s stock.

Wingstop Stock Performance

NASDAQ WING traded down $2.05 during trading hours on Friday, hitting $383.79. 305,239 shares of the company traded hands, compared to its average volume of 397,095. The stock has a market capitalization of $11.25 billion, a price-to-earnings ratio of 136.58, a P/E/G ratio of 4.92 and a beta of 1.70. Wingstop Inc. has a twelve month low of $150.08 and a twelve month high of $410.95. The business’s 50-day moving average is $376.28 and its 200-day moving average is $321.20.

Wingstop (NASDAQ:WINGGet Free Report) last released its quarterly earnings data on Wednesday, May 1st. The restaurant operator reported $0.98 EPS for the quarter, beating the consensus estimate of $0.76 by $0.22. The company had revenue of $145.70 million during the quarter, compared to the consensus estimate of $136.34 million. Wingstop had a negative return on equity of 19.64% and a net margin of 16.75%. The firm’s revenue for the quarter was up 34.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.59 EPS. Analysts predict that Wingstop Inc. will post 3.39 EPS for the current year.

Wingstop Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 17th were issued a $0.22 dividend. The ex-dividend date was Thursday, May 16th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.23%. Wingstop’s payout ratio is 31.32%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on WING shares. Truist Financial increased their target price on Wingstop from $320.00 to $345.00 and gave the company a “hold” rating in a research note on Thursday, May 2nd. Jefferies Financial Group upped their target price on shares of Wingstop from $310.00 to $335.00 and gave the company a “hold” rating in a research note on Tuesday, April 16th. Morgan Stanley lifted their price target on shares of Wingstop from $280.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Friday, April 12th. Robert W. Baird upped their price objective on shares of Wingstop from $390.00 to $405.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Finally, Citigroup lifted their target price on Wingstop from $375.00 to $398.00 and gave the stock a “neutral” rating in a report 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.com, the company presently has an average rating of “Hold” and a consensus price target of $331.50.

Get Our Latest Analysis on Wingstop

Wingstop Company Profile

(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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Institutional Ownership by Quarter for Wingstop (NASDAQ:WING)

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