Balyasny Asset Management L.P. Cuts Stock Position in Wingstop Inc. (NASDAQ:WING)

Balyasny Asset Management L.P. reduced its position in Wingstop Inc. (NASDAQ:WING - Free Report) by 27.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 157,147 shares of the restaurant operator's stock after selling 60,269 shares during the quarter. Balyasny Asset Management L.P. owned approximately 0.53% of Wingstop worth $40,321,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. McGlone Suttner Wealth Management Inc. bought a new position in Wingstop in the fourth quarter worth $28,000. FSC Wealth Advisors LLC bought a new position in Wingstop in the fourth quarter worth $39,000. Headlands Technologies LLC acquired a new position in Wingstop during the third quarter worth $38,000. SRS Capital Advisors Inc. raised its stake in Wingstop by 323.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 233 shares of the restaurant operator's stock worth $60,000 after acquiring an additional 178 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in Wingstop by 16.9% during the fourth quarter. Quadrant Capital Group LLC now owns 263 shares of the restaurant operator's stock worth $67,000 after acquiring an additional 38 shares in the last quarter.

Wingstop Stock Performance

WING traded up $13.84 during midday trading on Wednesday, reaching $410.99. 420,453 shares of the company were exchanged, compared to its average volume of 467,299. Wingstop Inc. has a one year low of $150.08 and a one year high of $412.26. The stock has a market capitalization of $12.04 billion, a P/E ratio of 143.67, a PEG ratio of 5.08 and a beta of 1.70. The stock's 50-day simple moving average is $377.58 and its 200 day simple moving average is $324.07.

Wingstop (NASDAQ:WING - Get Free Report) last issued its earnings results on Wednesday, May 1st. The restaurant operator reported $0.98 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $145.70 million for the quarter, compared to analysts' expectations of $136.34 million. During the same quarter last year, the business earned $0.59 earnings per share. The company's revenue was up 34.0% compared to the same quarter last year. On average, research analysts anticipate that Wingstop Inc. will post 3.39 earnings per share for the current year.

Wingstop Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 17th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.21%. The ex-dividend date of this dividend was Thursday, May 16th. Wingstop's dividend payout ratio (DPR) is presently 31.32%.

Wall Street Analyst Weigh In

Several research firms have issued reports on WING. Stephens reiterated an "overweight" rating and set a $425.00 price objective on shares of Wingstop in a research note on Wednesday, May 1st. BMO Capital Markets increased their price objective on Wingstop from $275.00 to $325.00 and gave the stock a "market perform" rating in a research note on Thursday, May 2nd. Morgan Stanley increased their price objective on Wingstop from $280.00 to $315.00 and gave the stock an "equal weight" rating in a research note on Friday, April 12th. Stifel Nicolaus raised their target price on Wingstop from $270.00 to $330.00 and gave the company a "buy" rating in a research note on Friday, February 16th. Finally, Robert W. Baird raised their target price on Wingstop from $390.00 to $405.00 and gave the company an "outperform" rating in a research note on Thursday, May 2nd. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, Wingstop has a consensus rating of "Hold" and an average target price of $331.50.

Insider Activity

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 transaction of $1,676,772.00. Following the transaction, the senior vice president now owns 8,170 shares in the company, valued at approximately $3,238,588. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Wingstop news, SVP Albert G. Mcgrath sold 4,230 shares of the business's stock in a transaction that occurred on 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 transaction, the senior vice president now owns 8,170 shares of the company's stock, valued at approximately $3,238,588. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ania Smith sold 566 shares of the business's stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $380.91, for a total value of $215,595.06. Following the transaction, the director now directly owns 1,164 shares in the company, valued at approximately $443,379.24. The disclosure for this sale can be found here. Insiders have sold 6,191 shares of company stock worth $2,443,547 in the last 90 days. Corporate insiders own 0.36% of the company's stock.

Wingstop 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.