GAMMA Investing LLC Has $63,000 Holdings in Wingstop Inc. (NASDAQ:WING)

GAMMA Investing LLC decreased its stake in shares of Wingstop Inc. (NASDAQ:WING) by 28.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 223 shares of the restaurant operator’s stock after selling 90 shares during the period. GAMMA Investing LLC’s holdings in Wingstop were worth $63,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Driehaus Capital Management LLC grew its stake in Wingstop by 4.1% in the 2nd quarter. Driehaus Capital Management LLC now owns 193,307 shares of the restaurant operator’s stock valued at $81,703,000 after purchasing an additional 7,600 shares during the period. Scientech Research LLC bought a new stake in shares of Wingstop during the 2nd quarter valued at $2,249,000. Los Angeles Capital Management LLC purchased a new stake in Wingstop during the 3rd quarter worth about $5,010,000. Renaissance Technologies LLC boosted its stake in Wingstop by 36.6% in the 2nd quarter. Renaissance Technologies LLC now owns 602,990 shares of the restaurant operator’s stock worth $254,860,000 after purchasing an additional 161,600 shares during the period. Finally, Conway Capital Management Inc. purchased a new position in Wingstop during the third quarter valued at approximately $3,544,000.

Wingstop Stock Performance

NASDAQ:WING opened at $274.69 on Monday. Wingstop Inc. has a fifty-two week low of $256.50 and a fifty-two week high of $433.86. The firm has a market cap of $8.02 billion, a P/E ratio of 80.08, a P/E/G ratio of 2.81 and a beta of 1.81. The firm has a 50-day simple moving average of $312.73 and a two-hundred day simple moving average of $360.41.

Wingstop (NASDAQ:WING) last released its quarterly earnings data on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.09). The company had revenue of $162.50 million for the quarter, compared to analysts’ expectations of $160.24 million. Wingstop had a net margin of 17.05% and a negative return on equity of 22.69%. The firm’s revenue for the quarter was up 38.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.69 earnings per share. On average, equities research analysts predict that Wingstop Inc. will post 3.67 EPS for the current year.

Wingstop Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 15th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.08 annualized dividend and a yield of 0.39%. Wingstop’s dividend payout ratio (DPR) is presently 31.49%.

Wingstop declared that its board has authorized a stock buyback plan on Thursday, December 5th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the restaurant operator to purchase up to 5.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

WING has been the subject of several research analyst reports. Piper Sandler dropped 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. BTIG Research raised shares of Wingstop from a “neutral” rating to a “buy” rating and set a $370.00 target price on the stock in a report on Thursday, October 31st. TD Cowen lowered their price target on shares of Wingstop from $450.00 to $365.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Barclays reduced their price target on Wingstop from $470.00 to $380.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Finally, Northcoast Research raised 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. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $368.74.

Insider Buying and Selling at Wingstop

In other news, SVP Raj Kapoor sold 266 shares of the firm’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 sale, the senior vice president now directly owns 266 shares in the company, valued at $86,285.08. This trade represents a 50.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.36% of the stock is currently owned by corporate insiders.

Wingstop Company Profile

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.