Paloma Partners Management Co Takes $746,000 Position in Wingstop Inc. (NASDAQ:WING)

Paloma Partners Management Co acquired a new stake in Wingstop Inc. (NASDAQ:WING - Free Report) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 1,793 shares of the restaurant operator's stock, valued at approximately $746,000.

Other institutional investors have also recently modified their holdings of the company. Cetera Advisors LLC acquired a new stake in Wingstop during the first quarter worth about $307,000. GAMMA Investing LLC increased its stake in Wingstop by 136.5% in the second quarter. GAMMA Investing LLC now owns 272 shares of the restaurant operator's stock valued at $115,000 after acquiring an additional 157 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its stake in Wingstop by 60.3% in the second quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator's stock valued at $39,000 after acquiring an additional 35 shares during the last quarter. Fulton Bank N.A. acquired a new position in Wingstop during the second quarter valued at approximately $220,000. Finally, Park Avenue Securities LLC lifted its stake in Wingstop by 11.8% during the second quarter. Park Avenue Securities LLC now owns 2,978 shares of the restaurant operator's stock worth $1,259,000 after purchasing an additional 315 shares during the last quarter.

Wall Street Analysts Forecast Growth

WING has been the subject of several recent analyst reports. Barclays dropped their price objective on Wingstop from $470.00 to $380.00 and set an "overweight" rating for the company in a research report on Thursday, October 31st. Benchmark upgraded shares of Wingstop from a "hold" rating to a "buy" rating and set a $340.00 price target on the stock in a research note on Thursday, October 31st. TD Cowen lowered their price objective on shares of Wingstop from $450.00 to $365.00 and set a "buy" rating for the company in a research report on Thursday, October 31st. Northcoast Research upgraded shares of Wingstop from a "neutral" rating to a "buy" rating and set a $350.00 target price on the stock in a research report on Friday, November 1st. Finally, Stephens decreased their target price on shares of Wingstop from $490.00 to $468.00 and set an "overweight" rating on the stock in a research note on Thursday, October 31st. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $368.74.

Wingstop Price Performance

Shares of WING traded up $9.70 during trading hours on Wednesday, hitting $337.25. The stock had a trading volume of 456,498 shares, compared to its average volume of 461,390. Wingstop Inc. has a 1-year low of $240.60 and a 1-year high of $433.86. The firm has a market capitalization of $9.85 billion, a P/E ratio of 98.32, a price-to-earnings-growth ratio of 3.03 and a beta of 1.78. The firm has a 50 day simple moving average of $359.00 and a 200-day simple moving average of $379.60.

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

Wingstop Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be issued a $0.27 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.32%. Wingstop's dividend payout ratio is presently 31.49%.

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.