Versor Investments LP Increases Stock Position in Wingstop Inc. (NASDAQ:WING)

Versor Investments LP grew its holdings in shares of Wingstop Inc. (NASDAQ:WING - Free Report) by 149.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,309 shares of the restaurant operator's stock after purchasing an additional 3,177 shares during the quarter. Versor Investments LP's holdings in Wingstop were worth $1,509,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of WING. True Wealth Design LLC acquired a new position in Wingstop during the third quarter worth about $36,000. Hollencrest Capital Management grew its holdings in Wingstop by 53.8% in the 3rd quarter. Hollencrest Capital Management now owns 100 shares of the restaurant operator's stock valued at $42,000 after buying an additional 35 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Wingstop by 384.6% in the 3rd quarter. Blue Trust Inc. now owns 126 shares of the restaurant operator's stock worth $53,000 after acquiring an additional 100 shares during the last quarter. V Square Quantitative Management LLC raised its holdings in shares of Wingstop by 34.9% during the 4th 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 period. Finally, R Squared Ltd acquired a new position in shares of Wingstop during the 4th quarter valued at about $71,000.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on WING. Morgan Stanley cut their price objective on shares of Wingstop from $389.00 to $375.00 and set an "overweight" rating for the company in a research report on Thursday, February 20th. Northcoast Research lowered shares of Wingstop from a "buy" rating to a "neutral" rating in a research report on Friday, February 21st. Wedbush lowered their price objective on Wingstop from $390.00 to $355.00 and set an "outperform" rating for the company in a research report on Thursday, February 20th. Stephens restated an "overweight" rating and issued a $450.00 target price on shares of Wingstop in a research report on Wednesday, February 19th. Finally, UBS Group lowered their price target on Wingstop from $330.00 to $300.00 and set a "neutral" rating for the company in a report on Thursday, February 20th. Seven 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 company has a consensus rating of "Moderate Buy" and an average price target of $357.67.

Remove Ads

Insider Buying and Selling

In related news, SVP Raj Kapoor sold 266 shares of the business's 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 completion of the transaction, the senior vice president now owns 266 shares in the company, valued at approximately $86,285.08. The trade was a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.36% of the stock is owned by insiders.

Wingstop Stock Performance

WING stock traded down $10.49 during mid-day trading on Monday, reaching $224.29. The company had a trading volume of 1,036,684 shares, compared to its average volume of 520,069. The firm has a fifty day simple moving average of $283.06 and a 200 day simple moving average of $335.22. The company has a market capitalization of $6.43 billion, a price-to-earnings ratio of 60.46, a price-to-earnings-growth 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.

Wingstop Dividend Announcement

The company also recently announced 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 is Friday, March 7th. This represents a $1.08 annualized dividend and a yield of 0.48%. Wingstop's dividend payout ratio (DPR) is 29.11%.

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

About Wingstop

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.