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

Verition Fund Management LLC reduced its stake in Wingstop Inc. (NASDAQ:WING - Free Report) by 8.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,028 shares of the restaurant operator's stock after selling 6,157 shares during the quarter. Verition Fund Management LLC owned about 0.21% of Wingstop worth $16,172,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Wingstop in the fourth quarter valued at $28,000. FSC Wealth Advisors LLC acquired a new position in Wingstop in the fourth quarter valued at $39,000. Headlands Technologies LLC acquired a new position in Wingstop in the third quarter valued at $38,000. SRS Capital Advisors Inc. increased its stake in Wingstop by 323.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 233 shares of the restaurant operator's stock valued at $60,000 after purchasing an additional 178 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its stake in Wingstop by 16.9% in the fourth quarter. Quadrant Capital Group LLC now owns 263 shares of the restaurant operator's stock valued at $67,000 after purchasing an additional 38 shares during the last quarter.

Wingstop Stock Down 0.5 %

Shares of Wingstop stock traded down $2.05 during midday trading on Friday, hitting $383.79. The company's stock had a trading volume of 305,239 shares, compared to its average volume of 397,095. The firm has a market capitalization of $11.25 billion, a P/E ratio of 136.58, a PEG ratio of 4.92 and a beta of 1.70. The stock has a 50-day simple moving average of $376.28 and a 200-day simple moving average of $321.20. Wingstop Inc. has a 1-year low of $150.08 and a 1-year high of $410.95.

Wingstop (NASDAQ:WING - Get Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The restaurant operator reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.22. Wingstop had a negative return on equity of 19.64% and a net margin of 16.75%. The business had revenue of $145.70 million during the quarter, compared to analyst estimates of $136.34 million. During the same period last year, the company earned $0.59 earnings per share. Wingstop's quarterly revenue was up 34.0% compared to the same quarter last year. As a group, sell-side analysts predict that Wingstop Inc. will post 3.39 earnings per share for the current year.

Wingstop Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 17th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $0.88 annualized dividend and a yield of 0.23%. Wingstop's dividend payout ratio (DPR) is currently 31.32%.

Analyst Upgrades and Downgrades

WING has been the subject of several analyst reports. Truist Financial upped 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. Robert W. Baird increased their price target on Wingstop from $390.00 to $405.00 and gave the company an "outperform" rating in a report on Thursday, May 2nd. Jefferies Financial Group increased their target price on Wingstop from $310.00 to $335.00 and gave the stock a "hold" rating in a report on Tuesday, April 16th. Morgan Stanley increased their target price on Wingstop from $280.00 to $315.00 and gave the stock an "equal weight" rating in a report on Friday, April 12th. Finally, TD Cowen reiterated a "buy" rating and set a $430.00 price target on shares of Wingstop in a research report on Thursday. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Wingstop presently has a consensus rating of "Hold" and a consensus price target of $331.50.

Insider Buying and Selling at Wingstop

In other news, SVP Albert G. Mcgrath sold 4,230 shares of Wingstop stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $396.40, for a total value of $1,676,772.00. Following the transaction, the senior vice president now directly owns 8,170 shares in the company, valued at $3,238,588. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Wingstop news, Director Ania Smith sold 566 shares of Wingstop stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $380.91, for a total transaction of $215,595.06. Following the sale, the director now directly owns 1,164 shares of the company's stock, valued at $443,379.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Albert G. Mcgrath sold 4,230 shares of Wingstop stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $396.40, for a total value of $1,676,772.00. Following the sale, the senior vice president now directly owns 8,170 shares in the company, valued at $3,238,588. The disclosure for this sale can be found here. Insiders have sold a total of 6,191 shares of company stock worth $2,443,547 over the last three months. Corporate insiders own 0.36% 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.