Tidal Investments LLC Purchases 55 Shares of Wingstop Inc. (NASDAQ:WING)

Tidal Investments LLC lifted its position in Wingstop Inc. (NASDAQ:WING) by 7.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 758 shares of the restaurant operator’s stock after purchasing an additional 55 shares during the quarter. Tidal Investments LLC’s holdings in Wingstop were worth $315,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Hollencrest Capital Management purchased a new position in Wingstop during the second quarter worth about $27,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Wingstop during the second quarter worth about $34,000. True Wealth Design LLC bought a new position in shares of Wingstop in the third quarter worth approximately $36,000. V Square Quantitative Management LLC raised its stake in Wingstop by 60.6% in the third quarter. V Square Quantitative Management LLC now owns 106 shares of the restaurant operator’s stock valued at $44,000 after purchasing an additional 40 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in Wingstop by 384.6% during the third quarter. Blue Trust Inc. now owns 126 shares of the restaurant operator’s stock valued at $53,000 after purchasing an additional 100 shares during the last quarter.

Wingstop Price Performance

WING opened at $291.75 on Wednesday. Wingstop Inc. has a one year low of $241.78 and a one year high of $433.86. The business has a 50 day simple moving average of $329.47 and a two-hundred day simple moving average of $371.98. The firm has a market capitalization of $8.52 billion, a price-to-earnings ratio of 85.06, a PEG ratio of 2.81 and a beta of 1.78.

Wingstop (NASDAQ:WING) last announced its earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 EPS 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 net margin of 17.05% and a negative return on equity of 22.69%. Wingstop’s revenue was up 38.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.69 EPS. As a group, sell-side analysts expect that Wingstop Inc. will post 3.67 EPS for the current fiscal year.

Wingstop Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 15th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date was Friday, November 15th. Wingstop’s payout ratio is 31.49%.

Wingstop announced that its Board of Directors has authorized a stock buyback program on Thursday, December 5th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the restaurant operator to purchase up to 5.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on WING shares. Stephens reissued an “overweight” rating and issued a $468.00 price target on shares of Wingstop in a report on Monday, December 9th. Northcoast Research raised Wingstop from a “neutral” rating to a “buy” rating and set a $350.00 target price on the stock in a research note on Friday, November 1st. The Goldman Sachs Group raised Wingstop from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $458.00 to $377.00 in a research note on Friday, November 8th. Barclays reduced their price objective on Wingstop from $470.00 to $380.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Finally, Wedbush restated an “outperform” rating and issued a $390.00 target price on shares of Wingstop in a research report on Tuesday, November 5th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $368.74.

Insider Activity at Wingstop

In other Wingstop news, SVP Raj Kapoor sold 266 shares of Wingstop stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $324.38, for a total transaction of $86,285.08. Following the sale, the senior vice president now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.36% of the stock is owned by corporate insiders.

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.