Conway Capital Management Inc. Purchases New Shares in Wingstop Inc. (NASDAQ:WING)

Conway Capital Management Inc. acquired a new stake in shares of Wingstop Inc. (NASDAQ:WING - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 8,519 shares of the restaurant operator's stock, valued at approximately $3,544,000. Wingstop makes up 1.7% of Conway Capital Management Inc.'s investment portfolio, making the stock its 13th biggest holding.

Several other large investors have also bought and sold shares of the company. Hollencrest Capital Management purchased a new stake in shares of Wingstop during the second quarter valued at $27,000. Ashton Thomas Private Wealth LLC bought a new position in Wingstop during the 2nd quarter valued at about $34,000. True Wealth Design LLC purchased a new stake in shares of Wingstop during the 3rd quarter valued at about $36,000. V Square Quantitative Management LLC grew its stake in shares of Wingstop by 60.6% in the third quarter. V Square Quantitative Management LLC now owns 106 shares of the restaurant operator's stock worth $44,000 after acquiring an additional 40 shares during the period. Finally, Blue Trust Inc. raised its holdings in shares of Wingstop by 384.6% during the third quarter. Blue Trust Inc. now owns 126 shares of the restaurant operator's stock valued at $53,000 after purchasing an additional 100 shares during the last quarter.

Wingstop Trading Down 0.2 %

WING traded down $0.74 on Tuesday, hitting $327.80. 404,844 shares of the company's stock traded hands, compared to its average volume of 460,835. The company's 50 day simple moving average is $350.47 and its 200-day simple moving average is $377.94. Wingstop Inc. has a one year low of $240.60 and a one year high of $433.86. The firm has a market cap of $9.58 billion, a price-to-earnings ratio of 95.57, a P/E/G ratio of 3.17 and a beta of 1.78.

Wingstop (NASDAQ:WING - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.09). Wingstop had a net margin of 17.05% and a negative return on equity of 22.69%. The company had revenue of $162.50 million for the quarter, compared to the consensus estimate of $160.24 million. During the same quarter in the previous year, the business earned $0.69 EPS. The company's quarterly revenue was up 38.8% on a year-over-year basis. As a group, equities analysts anticipate that Wingstop Inc. will post 3.68 EPS for the current fiscal year.

Wingstop Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 15th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.33%. The ex-dividend date was Friday, November 15th. Wingstop's dividend payout ratio (DPR) is presently 31.49%.

Wingstop announced that its Board of Directors has initiated a stock buyback program on Thursday, December 5th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the restaurant operator to repurchase up to 5.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Barclays dropped their target price on shares of Wingstop from $470.00 to $380.00 and set an "overweight" rating on the stock in a report on Thursday, October 31st. Wedbush reaffirmed an "outperform" rating and issued a $390.00 price objective on shares of Wingstop in a report on Tuesday, November 5th. Benchmark upgraded Wingstop from a "hold" rating to a "buy" rating and set a $340.00 price objective for the company in a research report on Thursday, October 31st. Stephens reissued an "overweight" rating and issued a $468.00 target price on shares of Wingstop in a research report on Monday. Finally, The Goldman Sachs Group upgraded shares of Wingstop from a "neutral" rating to a "buy" rating and lowered their price objective for the stock from $458.00 to $377.00 in a research note on Friday, November 8th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $368.74.

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.