Proficio Capital Partners LLC Purchases Shares of 35,809 Wingstop Inc. (NASDAQ:WING)

Proficio Capital Partners LLC acquired a new position in Wingstop Inc. (NASDAQ:WING - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 35,809 shares of the restaurant operator's stock, valued at approximately $10,177,000. Proficio Capital Partners LLC owned 0.12% of Wingstop at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. True Wealth Design LLC purchased a new stake in shares of Wingstop in the third quarter valued at approximately $36,000. Hollencrest Capital Management lifted its holdings in shares of Wingstop by 53.8% during the 3rd quarter. Hollencrest Capital Management now owns 100 shares of the restaurant operator's stock valued at $42,000 after purchasing an additional 35 shares during the last quarter. V Square Quantitative Management LLC grew its stake in shares of Wingstop by 34.9% during the fourth quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator's stock worth $41,000 after acquiring an additional 37 shares during the last quarter. R Squared Ltd acquired a new position in Wingstop during the 4th quarter valued at approximately $71,000. Finally, Blue Trust Inc. raised its stake in Wingstop by 103.2% in the 4th quarter. Blue Trust Inc. now owns 256 shares of the restaurant operator's stock worth $73,000 after acquiring an additional 130 shares during the last quarter.

Analyst Upgrades and Downgrades

WING has been the subject of several research reports. Benchmark decreased their price objective on shares of Wingstop from $340.00 to $325.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. Northcoast Research downgraded Wingstop from a "buy" rating to a "neutral" rating in a research report on Friday, February 21st. Stifel Nicolaus decreased their price objective on shares of Wingstop from $375.00 to $350.00 and set a "buy" rating on the stock in a report on Friday. TD Securities reduced their price target on shares of Wingstop from $365.00 to $305.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Finally, Barclays decreased their target price on Wingstop from $359.00 to $315.00 and set an "overweight" rating on the stock in a research report on Thursday, February 20th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $357.67.

Wingstop Price Performance

Shares of NASDAQ:WING traded down $10.49 during midday trading on Monday, reaching $224.29. 1,039,785 shares of the company's stock were exchanged, compared to its average volume of 520,070. The stock has a market cap of $6.43 billion, a price-to-earnings ratio of 60.46, a P/E/G ratio of 2.27 and a beta of 1.81. Wingstop Inc. has a fifty-two week low of $219.12 and a fifty-two week high of $433.86. The firm's 50 day simple moving average is $281.73 and its two-hundred day simple moving average is $334.06.

Wingstop Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Friday, March 7th. Wingstop's payout ratio is 29.11%.

Wingstop announced that its board has initiated a share buyback program on Thursday, December 5th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the restaurant operator to purchase up to 5.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, SVP Raj Kapoor sold 266 shares of the firm's stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $324.38, for a total value of $86,285.08. Following the completion of the transaction, the senior vice president now owns 266 shares of the company's stock, valued at approximately $86,285.08. This trade represents a 50.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.36% of the stock is owned by insiders.

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.