Y Intercept Hong Kong Ltd Buys New Position in Wingstop Inc. (NASDAQ:WING)

Y Intercept Hong Kong Ltd purchased a new position in Wingstop Inc. (NASDAQ:WING - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,100 shares of the restaurant operator's stock, valued at approximately $874,000.

Several other large investors also recently bought and sold shares of WING. Hollencrest Capital Management purchased a new position in shares of Wingstop in the second quarter valued at $27,000. Ashton Thomas Private Wealth LLC purchased a new position in Wingstop in the 2nd quarter valued at about $34,000. True Wealth Design LLC acquired a new stake in shares of Wingstop during the third quarter valued at about $36,000. V Square Quantitative Management LLC increased its position in shares of Wingstop by 60.6% during the third quarter. V Square Quantitative Management LLC now owns 106 shares of the restaurant operator's stock worth $44,000 after acquiring an additional 40 shares during the last quarter. Finally, Blue Trust Inc. increased its position in shares of Wingstop by 384.6% during the third 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on WING shares. Piper Sandler lowered their price objective on Wingstop from $375.00 to $300.00 and set a "neutral" rating for the company in a research note on Monday, November 4th. The Goldman Sachs Group raised shares of Wingstop from a "neutral" rating to a "buy" rating and decreased their price target for the stock from $458.00 to $377.00 in a research report on Friday, November 8th. Northcoast Research upgraded shares of Wingstop from a "neutral" rating to a "buy" rating and set a $350.00 price target for the company in a research note on Friday, November 1st. BTIG Research upgraded shares of Wingstop from a "neutral" rating to a "buy" rating and set a $370.00 price objective on the stock in a research note on Thursday, October 31st. Finally, Barclays dropped their target price on shares of Wingstop from $470.00 to $380.00 and set an "overweight" rating for the company in a research report on Thursday, October 31st. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Wingstop presently has a consensus rating of "Moderate Buy" and a consensus target price of $368.74.

Wingstop Stock Performance

Shares of NASDAQ:WING traded down $21.56 during trading hours on Friday, hitting $301.33. The stock had a trading volume of 925,972 shares, compared to its average volume of 461,737. The stock's fifty day simple moving average is $346.79 and its 200 day simple moving average is $377.23. The firm has a market capitalization of $8.80 billion, a price-to-earnings ratio of 94.14, a PEG ratio of 3.08 and a beta of 1.78. Wingstop Inc. has a 1-year low of $240.60 and a 1-year high of $433.86.

Wingstop (NASDAQ:WING - Get Free Report) last posted its earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.09). Wingstop had a net margin of 17.05% and a negative return on equity of 22.69%. The business had revenue of $162.50 million during the quarter, compared to analyst estimates of $160.24 million. During the same quarter in the prior year, the business earned $0.69 earnings per share. The firm's revenue was up 38.8% compared to the same quarter last year. As a group, research analysts anticipate that Wingstop Inc. will post 3.67 EPS for the current year.

Wingstop Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 15th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend was Friday, November 15th. Wingstop's payout ratio is currently 31.49%.

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