Short Interest in Wingstop Inc. (NASDAQ:WING) Expands By 16.0%

Wingstop Inc. (NASDAQ:WING - Get Free Report) was the target of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 1,890,000 shares, a growth of 16.0% from the February 13th total of 1,630,000 shares. Approximately 6.6% of the company's stock are short sold. Based on an average daily volume of 744,800 shares, the short-interest ratio is currently 2.5 days.

Wingstop Trading Down 2.1 %

Shares of NASDAQ:WING traded down $4.73 during mid-day trading on Friday, reaching $215.46. The company had a trading volume of 1,311,173 shares, compared to its average volume of 534,016. The firm has a market cap of $6.18 billion, a price-to-earnings ratio of 58.08, a PEG ratio of 2.27 and a beta of 1.88. The company's 50-day moving average price is $262.51 and its 200-day moving average price is $318.12. Wingstop has a one year low of $205.60 and a one year high of $433.86.

Wingstop announced that its board has approved a share repurchase program on Thursday, December 5th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the restaurant operator to buy up to 5.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's management believes its stock is undervalued.

Wingstop Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.50%. Wingstop's dividend payout ratio (DPR) is presently 29.11%.

Remove Ads

Analysts Set New Price Targets

WING has been the subject of a number of analyst reports. Guggenheim upgraded Wingstop from a "neutral" rating to a "buy" rating and set a $280.00 price target for the company in a research note on Monday, February 24th. Morgan Stanley cut their price target on Wingstop from $389.00 to $375.00 and set an "overweight" 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 note on Friday, February 21st. Wedbush cut their price target on Wingstop from $390.00 to $355.00 and set an "outperform" rating for the company in a research note on Thursday, February 20th. Finally, Stephens reiterated an "overweight" rating and set a $450.00 price target on shares of Wingstop in a research note on Wednesday, February 19th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $357.67.

Institutional Investors Weigh In On Wingstop

A number of hedge funds and other institutional investors have recently bought and sold shares of WING. Alyeska Investment Group L.P. bought a new stake in Wingstop during the 4th quarter valued at $151,802,000. Raymond James Financial Inc. bought a new stake in Wingstop during the 4th quarter valued at $115,301,000. Norges Bank bought a new stake in Wingstop during the 4th quarter valued at $106,123,000. Ameriprise Financial Inc. raised its holdings in Wingstop by 760.9% during the 4th quarter. Ameriprise Financial Inc. now owns 381,745 shares of the restaurant operator's stock valued at $108,497,000 after acquiring an additional 337,401 shares during the period. Finally, Champlain Investment Partners LLC bought a new stake in Wingstop during the 4th quarter valued at $77,855,000.

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.