Driehaus Capital Management LLC Purchases 7,600 Shares of Wingstop Inc. (NASDAQ:WING)

Driehaus Capital Management LLC grew its position in Wingstop Inc. (NASDAQ:WING) by 4.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 193,307 shares of the restaurant operator’s stock after purchasing an additional 7,600 shares during the quarter. Wingstop makes up about 0.8% of Driehaus Capital Management LLC’s investment portfolio, making the stock its 29th largest holding. Driehaus Capital Management LLC owned approximately 0.66% of Wingstop worth $81,703,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Hollencrest Capital Management bought a new position in Wingstop in the 2nd quarter worth $27,000. Rise Advisors LLC purchased a new stake in shares of Wingstop during the first quarter worth about $29,000. Ashton Thomas Private Wealth LLC bought a new stake in Wingstop during the 2nd quarter valued at approximately $34,000. Massmutual Trust Co. FSB ADV lifted its holdings in Wingstop by 60.3% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock worth $39,000 after purchasing an additional 35 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Wingstop by 53.3% in the 1st quarter. GAMMA Investing LLC now owns 115 shares of the restaurant operator’s stock worth $42,000 after purchasing an additional 40 shares during the period.

Insider Activity

In other Wingstop news, SVP Donnie Upshaw sold 3,199 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $372.71, for a total transaction of $1,192,299.29. Following the transaction, the senior vice president now directly owns 97 shares in the company, valued at approximately $36,152.87. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.36% of the company’s stock.

Analysts Set New Price Targets

WING has been the topic of a number of research reports. The Goldman Sachs Group lifted their price target on shares of Wingstop from $407.00 to $458.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Piper Sandler increased their price target on Wingstop from $353.00 to $375.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Barclays upped their price objective on Wingstop from $418.00 to $425.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. TD Cowen reissued a “buy” rating and issued a $450.00 target price on shares of Wingstop in a report on Wednesday, July 31st. Finally, Stephens restated an “overweight” rating and issued a $475.00 price target on shares of Wingstop in a research report on Wednesday, August 14th. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $379.53.

Wingstop Price Performance

Shares of WING opened at $411.44 on Friday. The firm has a market capitalization of $12.06 billion, a price-to-earnings ratio of 146.42, a PEG ratio of 4.26 and a beta of 1.71. The company has a 50-day moving average of $386.73 and a 200 day moving average of $383.55. Wingstop Inc. has a 1-year low of $170.83 and a 1-year high of $433.86.

Wingstop (NASDAQ:WING) last announced its quarterly earnings data on Wednesday, July 31st. The restaurant operator reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.11. The company had revenue of $155.70 million for the quarter, compared to analysts’ expectations of $146.04 million. Wingstop had a negative return on equity of 21.18% and a net margin of 17.33%. Wingstop’s revenue was up 45.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.57 earnings per share. On average, equities analysts anticipate that Wingstop Inc. will post 3.78 earnings per share for the current fiscal year.

Wingstop Increases Dividend

The company also recently declared 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 is an increase from Wingstop’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.26%. Wingstop’s dividend payout ratio is presently 38.43%.

Wingstop 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.