GAMMA Investing LLC Increases Stake in Wingstop Inc. $WING

GAMMA Investing LLC increased its position in shares of Wingstop Inc. (NASDAQ:WING) by 44.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 658 shares of the restaurant operator’s stock after purchasing an additional 201 shares during the period. GAMMA Investing LLC’s holdings in Wingstop were worth $222,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in WING. MassMutual Private Wealth & Trust FSB boosted its position in shares of Wingstop by 93.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 128 shares of the restaurant operator’s stock valued at $29,000 after buying an additional 62 shares during the period. Signaturefd LLC lifted its stake in shares of Wingstop by 106.9% during the 1st quarter. Signaturefd LLC now owns 149 shares of the restaurant operator’s stock worth $34,000 after acquiring an additional 77 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in Wingstop by 121.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator’s stock valued at $49,000 after acquiring an additional 119 shares during the period. UMB Bank n.a. grew its position in Wingstop by 280.3% in the 1st quarter. UMB Bank n.a. now owns 270 shares of the restaurant operator’s stock valued at $61,000 after acquiring an additional 199 shares during the last quarter. Finally, Parallel Advisors LLC grew its position in Wingstop by 22.3% in the 2nd quarter. Parallel Advisors LLC now owns 181 shares of the restaurant operator’s stock valued at $61,000 after acquiring an additional 33 shares during the last quarter.

Insider Activity at Wingstop

In other Wingstop news, SVP Marisa Carona sold 11,938 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $370.34, for a total transaction of $4,421,118.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Skipworth sold 4,500 shares of the firm’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $370.34, for a total transaction of $1,666,530.00. Following the completion of the sale, the chief executive officer owned 42,777 shares in the company, valued at $15,842,034.18. This represents a 9.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,838 shares of company stock valued at $8,118,535 over the last quarter. 0.72% of the stock is owned by corporate insiders.

Wingstop Stock Performance

Shares of WING opened at $247.44 on Monday. The company has a 50 day moving average price of $309.12 and a 200-day moving average price of $296.28. Wingstop Inc. has a fifty-two week low of $204.00 and a fifty-two week high of $427.00. The stock has a market capitalization of $6.91 billion, a PE ratio of 41.24, a PEG ratio of 3.11 and a beta of 1.87.

Wingstop (NASDAQ:WING) last issued its quarterly earnings data on Wednesday, July 30th. The restaurant operator reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.12. The company had revenue of $174.33 million during the quarter, compared to the consensus estimate of $172.60 million. Wingstop had a net margin of 25.61% and a negative return on equity of 17.07%. Wingstop’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.93 earnings per share. Equities research analysts forecast that Wingstop Inc. will post 4.18 EPS for the current year.

Wingstop Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 15th were paid a dividend of $0.30 per share. This is an increase from Wingstop’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.5%. Wingstop’s dividend payout ratio (DPR) is currently 20.00%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Bank of America lowered their target price on shares of Wingstop from $430.00 to $420.00 and set a “buy” rating for the company in a research note on Friday, July 18th. BTIG Research boosted their price objective on shares of Wingstop from $350.00 to $430.00 and gave the company a “buy” rating in a research report on Wednesday, June 11th. Melius began coverage on shares of Wingstop in a research note on Monday, July 14th. They issued a “hold” rating and a $350.00 target price on the stock. Piper Sandler initiated coverage on shares of Wingstop in a research note on Wednesday, July 9th. They set an “overweight” rating for the company. Finally, Wall Street Zen cut Wingstop from a “hold” rating to a “sell” rating in a research note on Saturday, September 13th. Four research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $380.52.

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.