Wingstop Inc. (NASDAQ:WING) Shares Purchased by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC raised its position in shares of Wingstop Inc. (NASDAQ:WING - Free Report) by 23.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 268,560 shares of the restaurant operator's stock after purchasing an additional 51,231 shares during the quarter. Stephens Investment Management Group LLC owned 0.92% of Wingstop worth $76,325,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of Wingstop by 984.7% in the 3rd quarter. FMR LLC now owns 217,946 shares of the restaurant operator's stock valued at $90,683,000 after buying an additional 197,853 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Wingstop by 392.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 184,068 shares of the restaurant operator's stock valued at $76,587,000 after buying an additional 146,692 shares during the period. Eagle Asset Management Inc. lifted its holdings in shares of Wingstop by 40.8% in the 3rd quarter. Eagle Asset Management Inc. now owns 465,368 shares of the restaurant operator's stock valued at $193,630,000 after buying an additional 134,802 shares during the period. Two Sigma Advisers LP lifted its holdings in shares of Wingstop by 20.5% in the 3rd quarter. Two Sigma Advisers LP now owns 418,418 shares of the restaurant operator's stock valued at $174,095,000 after buying an additional 71,300 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in Wingstop by 41,244.9% in the 3rd quarter. International Assets Investment Management LLC now owns 65,325 shares of the restaurant operator's stock worth $27,180,000 after purchasing an additional 65,167 shares during the period.

Wingstop Price Performance

WING traded up $4.50 during trading hours on Wednesday, reaching $304.32. 419,897 shares of the stock traded hands, compared to its average volume of 556,799. The firm's fifty day simple moving average is $295.19 and its two-hundred day simple moving average is $344.46. The company has a market cap of $8.89 billion, a price-to-earnings ratio of 88.72, a PEG ratio of 2.76 and a beta of 1.81. Wingstop Inc. has a fifty-two week low of $266.45 and a fifty-two week high of $433.86.

Wingstop announced that its board has authorized a share 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 buy up to 5.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

Insider Activity at Wingstop

In other Wingstop news, SVP Raj Kapoor sold 266 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $324.38, for a total transaction of $86,285.08. Following the transaction, the senior vice president now directly owns 266 shares in the company, valued at $86,285.08. This represents a 50.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.36% of the company's stock.

Analysts Set New Price Targets

WING has been the subject of a number of analyst reports. Morgan Stanley raised Wingstop from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $385.00 to $389.00 in a report on Tuesday, January 21st. Stephens reissued an "overweight" rating and set a $468.00 target price on shares of Wingstop in a report on Thursday, January 2nd. Barclays reduced their target price on Wingstop from $470.00 to $380.00 and set an "overweight" rating for the company in a report on Thursday, October 31st. TD Cowen reduced their target price on Wingstop from $450.00 to $365.00 and set a "buy" rating for the company in a report on Thursday, October 31st. Finally, Piper Sandler dropped their price target on Wingstop from $375.00 to $300.00 and set a "neutral" rating for the company in a research report on Monday, November 4th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $383.32.

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.