Cresset Asset Management LLC Trims Stake in Wingstop Inc. (NASDAQ:WING)

Cresset Asset Management LLC reduced its position in Wingstop Inc. (NASDAQ:WING) by 52.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 763 shares of the restaurant operator’s stock after selling 831 shares during the period. Cresset Asset Management LLC’s holdings in Wingstop were worth $217,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Proficio Capital Partners LLC purchased a new stake in Wingstop during the 4th quarter valued at approximately $10,177,000. SG Americas Securities LLC raised its stake in Wingstop by 277.5% during the 4th quarter. SG Americas Securities LLC now owns 4,771 shares of the restaurant operator’s stock valued at $1,356,000 after acquiring an additional 3,507 shares during the last quarter. Y Intercept Hong Kong Ltd raised its stake in Wingstop by 779.1% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 18,461 shares of the restaurant operator’s stock valued at $5,247,000 after acquiring an additional 16,361 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in Wingstop by 475.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 69,234 shares of the restaurant operator’s stock valued at $19,676,000 after acquiring an additional 57,193 shares during the last quarter. Finally, Versor Investments LP raised its stake in Wingstop by 149.0% during the 4th quarter. Versor Investments LP now owns 5,309 shares of the restaurant operator’s stock valued at $1,509,000 after acquiring an additional 3,177 shares during the last quarter.

Wingstop Stock Performance

Shares of NASDAQ:WING opened at $321.08 on Monday. The business’s fifty day moving average price is $238.85 and its two-hundred day moving average price is $274.72. The stock has a market cap of $8.96 billion, a PE ratio of 86.54, a price-to-earnings-growth ratio of 2.27 and a beta of 1.80. Wingstop Inc. has a one year low of $204.00 and a one year high of $433.86.

Wingstop (NASDAQ:WING) last issued its quarterly earnings results on Wednesday, April 30th. The restaurant operator reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.15. Wingstop had a negative return on equity of 21.59% and a net margin of 17.37%. The company had revenue of $171.09 million for the quarter, compared to analyst estimates of $172.25 million. During the same quarter in the prior year, the company posted $0.98 EPS. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. As a group, equities research analysts predict that Wingstop Inc. will post 4.18 earnings per share for the current fiscal year.

Wingstop Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date is Friday, May 16th. Wingstop’s dividend payout ratio is presently 18.09%.

Analyst Ratings Changes

Several research firms have issued reports on WING. Raymond James reiterated an “outperform” rating and set a $330.00 target price (down previously from $375.00) on shares of Wingstop in a research report on Tuesday, January 28th. Gordon Haskett upgraded Wingstop to a “strong-buy” rating in a research report on Wednesday, April 30th. Cowen reiterated a “buy” rating on shares of Wingstop in a research report on Thursday, May 1st. Wells Fargo & Company boosted their target price on Wingstop from $300.00 to $320.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 14th. Finally, Jefferies Financial Group upgraded Wingstop from a “hold” rating to a “buy” rating and set a $270.00 target price on the stock in a research report on Monday, March 31st. Six analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $331.78.

Insiders Place Their Bets

In related news, SVP Raj Kapoor sold 637 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $273.07, for a total value of $173,945.59. Following the transaction, the senior vice president now directly owns 517 shares of the company’s stock, valued at approximately $141,177.19. This trade represents a 55.20% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.72% of the company’s stock.

Wingstop Company Profile

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.