Hollencrest Capital Management Takes Position in Wingstop Inc. (NASDAQ:WING)

Hollencrest Capital Management acquired a new position in shares of Wingstop Inc. (NASDAQ:WING) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 65 shares of the restaurant operator’s stock, valued at approximately $27,000.

Several other institutional investors also recently modified their holdings of the stock. Rise Advisors LLC purchased a new position in Wingstop in the 1st quarter worth approximately $29,000. Ashton Thomas Private Wealth LLC bought a new position in Wingstop in the second quarter valued at $34,000. Massmutual Trust Co. FSB ADV raised its position in Wingstop by 60.3% during the second quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock valued at $39,000 after purchasing an additional 35 shares in the last quarter. GAMMA Investing LLC raised its position in Wingstop by 53.3% during the first quarter. GAMMA Investing LLC now owns 115 shares of the restaurant operator’s stock valued at $42,000 after purchasing an additional 40 shares in the last quarter. Finally, Family Firm Inc. bought a new stake in Wingstop during the second quarter worth about $62,000.

Insiders Place Their Bets

In related news, SVP Donnie Upshaw sold 3,199 shares of Wingstop stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $372.71, for a total transaction of $1,192,299.29. Following the sale, the senior vice president now directly owns 97 shares in the company, valued at $36,152.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.36% of the company’s stock.

Analyst Upgrades and Downgrades

WING has been the topic of a number of research reports. Wedbush raised their price objective on Wingstop from $425.00 to $440.00 and gave the company an “outperform” rating in a report on Monday, September 16th. Stephens reissued an “overweight” rating and set a $475.00 price target on shares of Wingstop in a research note on Wednesday, August 14th. Raymond James upgraded shares of Wingstop from a “market perform” rating to an “outperform” rating and set a $42.00 price objective for the company in a report on Thursday, August 1st. Piper Sandler increased their target price on shares of Wingstop from $353.00 to $375.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, TD Cowen reissued a “buy” rating and issued a $450.00 price target on shares of Wingstop in a research note on Wednesday, July 31st. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Wingstop has an average rating of “Hold” and an average target price of $379.53.

Wingstop Stock Down 0.4 %

Shares of Wingstop stock opened at $419.90 on Friday. The company has a market cap of $12.30 billion, a PE ratio of 149.43, a P/E/G ratio of 4.09 and a beta of 1.71. The business has a 50 day moving average of $381.87 and a 200 day moving average of $381.31. Wingstop Inc. has a 52 week low of $166.65 and a 52 week high of $431.03.

Wingstop (NASDAQ:WING) last issued its quarterly earnings data on Wednesday, July 31st. The restaurant operator reported $0.93 EPS for the quarter, topping the consensus estimate of $0.82 by $0.11. The business had revenue of $155.70 million during the quarter, compared to analyst estimates of $146.04 million. Wingstop had a net margin of 17.33% and a negative return on equity of 21.18%. The company’s revenue for the quarter was up 45.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.57 EPS. On average, research analysts anticipate that Wingstop Inc. will post 3.77 earnings per share for the current year.

Wingstop Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 16th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.26%. This is a boost from Wingstop’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, August 16th. Wingstop’s payout ratio is presently 38.43%.

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.