Insider Selling: Wingstop Inc. (NASDAQ:WING) SVP Sells 266 Shares of Stock

Wingstop Inc. (NASDAQ:WING) SVP Raj Kapoor sold 266 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $324.38, for a total value of $86,285.08. Following the completion of the transaction, the senior vice president now directly owns 266 shares in the company, valued at approximately $86,285.08. This trade represents a 50.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Wingstop Price Performance

Shares of Wingstop stock traded down $21.56 during trading on Friday, hitting $301.33. The stock had a trading volume of 925,972 shares, compared to its average volume of 461,737. The business has a fifty day moving average of $346.79 and a two-hundred day moving average of $377.23. The firm has a market cap of $8.80 billion, a P/E ratio of 94.14, a PEG ratio of 3.08 and a beta of 1.78. Wingstop Inc. has a fifty-two week low of $240.60 and a fifty-two week high of $433.86.

Wingstop (NASDAQ:WING) last issued its earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.09). The business had revenue of $162.50 million for the quarter, compared to the consensus estimate of $160.24 million. Wingstop had a negative return on equity of 22.69% and a net margin of 17.05%. The company’s quarterly revenue was up 38.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.69 earnings per share. As a group, research analysts forecast that Wingstop Inc. will post 3.67 earnings per share for the current year.

Wingstop announced that its Board of Directors has approved a share 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 stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Wingstop Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 15th were given a dividend of $0.27 per share. 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 31.49%.

Institutional Investors Weigh In On Wingstop

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Driehaus Capital Management LLC lifted its holdings in shares of Wingstop by 4.1% during the 2nd quarter. Driehaus Capital Management LLC now owns 193,307 shares of the restaurant operator’s stock valued at $81,703,000 after buying an additional 7,600 shares during the last quarter. Scientech Research LLC bought a new position in Wingstop during the second quarter valued at approximately $2,249,000. Los Angeles Capital Management LLC acquired a new stake in Wingstop in the third quarter valued at approximately $5,010,000. Renaissance Technologies LLC grew its position in Wingstop by 36.6% in the second quarter. Renaissance Technologies LLC now owns 602,990 shares of the restaurant operator’s stock worth $254,860,000 after acquiring an additional 161,600 shares in the last quarter. Finally, Eagle Asset Management Inc. increased its stake in shares of Wingstop by 40.8% during the 3rd quarter. Eagle Asset Management Inc. now owns 465,368 shares of the restaurant operator’s stock worth $193,630,000 after purchasing an additional 134,802 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. TD Cowen reduced their target price on shares of Wingstop from $450.00 to $365.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Citigroup boosted their target price on Wingstop from $417.00 to $440.00 and gave the company a “neutral” rating in a report on Friday, October 4th. Piper Sandler lowered their target price on shares of Wingstop from $375.00 to $300.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. BTIG Research upgraded shares of Wingstop from a “neutral” rating to a “buy” rating and set a $370.00 price target for the company in a research report on Thursday, October 31st. Finally, Wedbush reissued an “outperform” rating and set a $390.00 price objective on shares of Wingstop in a research report on Tuesday, November 5th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $368.74.

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.