Allspring Global Investments Holdings LLC Has $42.31 Million Stake in Wingstop Inc. (NASDAQ:WING)

Allspring Global Investments Holdings LLC cut its holdings in Wingstop Inc. (NASDAQ:WING - Free Report) by 20.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 144,944 shares of the restaurant operator's stock after selling 38,100 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.50% of Wingstop worth $42,305,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of WING. True Wealth Design LLC acquired a new stake in Wingstop in the third quarter worth $36,000. Hollencrest Capital Management raised its holdings in Wingstop by 53.8% in the third quarter. Hollencrest Capital Management now owns 100 shares of the restaurant operator's stock worth $42,000 after purchasing an additional 35 shares during the period. V Square Quantitative Management LLC raised its holdings in Wingstop by 60.6% in the third quarter. V Square Quantitative Management LLC now owns 106 shares of the restaurant operator's stock worth $44,000 after purchasing an additional 40 shares during the period. Blue Trust Inc. raised its holdings in Wingstop by 384.6% in the third quarter. Blue Trust Inc. now owns 126 shares of the restaurant operator's stock worth $53,000 after purchasing an additional 100 shares during the period. Finally, R Squared Ltd acquired a new stake in Wingstop in the fourth quarter worth $71,000.

Insider Buying and Selling

In related news, SVP Raj Kapoor sold 266 shares of Wingstop stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $324.38, for a total transaction of $86,285.08. Following the completion of the sale, the senior vice president now owns 266 shares of the company's stock, valued at approximately $86,285.08. The trade was a 50.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.36% of the stock is currently owned by insiders.

Wingstop Stock Performance

Shares of WING stock traded up $0.71 during midday trading on Tuesday, hitting $305.40. 645,362 shares of the company were exchanged, compared to its average volume of 562,576. The firm has a market capitalization of $8.92 billion, a P/E ratio of 88.78, a PEG ratio of 2.76 and a beta of 1.81. The firm's 50 day moving average price is $293.49 and its two-hundred day moving average price is $342.88. Wingstop Inc. has a 52 week low of $266.45 and a 52 week high of $433.86.

Wingstop announced that its Board of Directors has authorized a stock repurchase program on Thursday, December 5th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the restaurant operator to buy up to 5.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. 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 report on Friday, November 1st. Raymond James restated an "outperform" rating and set a $330.00 price objective (down from $375.00) on shares of Wingstop in a report on Tuesday, January 28th. Barclays dropped their price objective on shares of Wingstop from $470.00 to $380.00 and set an "overweight" rating on the stock in a report on Thursday, October 31st. Stephens restated an "overweight" rating and set a $468.00 price objective on shares of Wingstop in a report on Thursday, January 2nd. Finally, The Goldman Sachs Group upgraded shares of Wingstop from a "neutral" rating to a "buy" rating and dropped their price objective for the stock from $458.00 to $377.00 in a report on Friday, November 8th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Wingstop has a consensus rating of "Moderate Buy" and a consensus price target of $385.72.

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.