Quantbot Technologies LP Has $2.92 Million Stake in Wingstop Inc. (NASDAQ:WING)

Quantbot Technologies LP raised its holdings in Wingstop Inc. (NASDAQ:WING) by 1,896.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,909 shares of the restaurant operator’s stock after buying an additional 6,563 shares during the period. Quantbot Technologies LP’s holdings in Wingstop were worth $2,920,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WING. Massachusetts Financial Services Co. MA grew its stake in Wingstop by 2.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 600,905 shares of the restaurant operator’s stock valued at $253,979,000 after purchasing an additional 16,526 shares in the last quarter. Capital Wealth Planning LLC bought a new position in shares of Wingstop in the second quarter valued at $257,000. Coldstream Capital Management Inc. increased its holdings in Wingstop by 3.0% during the second quarter. Coldstream Capital Management Inc. now owns 2,139 shares of the restaurant operator’s stock worth $904,000 after buying an additional 62 shares during the last quarter. Daiwa Securities Group Inc. raised its position in Wingstop by 116.3% during the second quarter. Daiwa Securities Group Inc. now owns 2,120 shares of the restaurant operator’s stock worth $896,000 after acquiring an additional 1,140 shares in the last quarter. Finally, Texas Permanent School Fund Corp raised its position in Wingstop by 15.8% during the second quarter. Texas Permanent School Fund Corp now owns 29,823 shares of the restaurant operator’s stock worth $12,605,000 after acquiring an additional 4,079 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts have recently commented on WING shares. Piper Sandler lifted their price objective on shares of Wingstop from $353.00 to $375.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Wedbush lifted their price target on Wingstop from $425.00 to $440.00 and gave the stock an “outperform” rating in a report on Monday. Barclays upped their price objective on Wingstop from $418.00 to $425.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Stifel Nicolaus lifted their target price on Wingstop from $420.00 to $460.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Finally, Truist Financial boosted their target price on Wingstop from $407.00 to $423.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $379.53.

Wingstop Stock Up 1.9 %

Shares of Wingstop stock opened at $416.66 on Wednesday. The stock has a market capitalization of $12.21 billion, a price-to-earnings ratio of 148.28, a price-to-earnings-growth ratio of 3.96 and a beta of 1.71. Wingstop Inc. has a twelve month low of $166.65 and a twelve month high of $431.03. The company has a 50-day simple moving average of $379.23 and a two-hundred day simple moving average of $380.08.

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

Wingstop Increases Dividend

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

Insider Transactions at Wingstop

In related news, SVP Donnie Upshaw sold 3,199 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $372.71, for a total value of $1,192,299.29. Following the completion of the transaction, the senior vice president now owns 97 shares of the company’s stock, valued at $36,152.87. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.36% of the stock is currently owned by 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.