Envestnet Asset Management Inc. Buys 7,201 Shares of Wingstop Inc. $WING

Envestnet Asset Management Inc. boosted its holdings in Wingstop Inc. (NASDAQ:WING) by 10.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 77,345 shares of the restaurant operator’s stock after purchasing an additional 7,201 shares during the quarter. Envestnet Asset Management Inc. owned about 0.28% of Wingstop worth $19,466,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of WING. American Century Companies Inc. grew its holdings in shares of Wingstop by 23.3% in the second quarter. American Century Companies Inc. now owns 1,557,383 shares of the restaurant operator’s stock valued at $524,433,000 after acquiring an additional 294,786 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Wingstop by 50.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 949,033 shares of the restaurant operator’s stock valued at $238,853,000 after purchasing an additional 316,328 shares during the period. Champlain Investment Partners LLC grew its stake in Wingstop by 17.3% in the 2nd quarter. Champlain Investment Partners LLC now owns 741,097 shares of the restaurant operator’s stock valued at $249,557,000 after purchasing an additional 109,108 shares during the period. Artisan Partners Limited Partnership increased its position in shares of Wingstop by 83.1% during the 2nd quarter. Artisan Partners Limited Partnership now owns 737,369 shares of the restaurant operator’s stock valued at $248,302,000 after purchasing an additional 334,583 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Wingstop by 21.9% during the 2nd quarter. Alliancebernstein L.P. now owns 522,397 shares of the restaurant operator’s stock worth $175,912,000 after purchasing an additional 93,930 shares during the period.

Wingstop Price Performance

Shares of WING stock opened at $221.65 on Friday. The company has a market cap of $6.16 billion, a price-to-earnings ratio of 36.10, a PEG ratio of 2.79 and a beta of 1.80. Wingstop Inc. has a 1 year low of $204.00 and a 1 year high of $388.14. The firm has a fifty day moving average price of $259.03 and a 200-day moving average price of $270.49.

Insider Buying and Selling

In other news, Director Kilandigalu Madati sold 269 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $259.97, for a total transaction of $69,931.93. Following the transaction, the director directly owned 5,283 shares in the company, valued at approximately $1,373,421.51. This trade represents a 4.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.72% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on WING shares. Barclays lifted their target price on shares of Wingstop from $295.00 to $335.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 7th. BTIG Research lowered their target price on shares of Wingstop from $430.00 to $400.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Jefferies Financial Group reiterated a “buy” rating and set a $350.00 price objective on shares of Wingstop in a research note on Monday, December 15th. Stephens reaffirmed an “overweight” rating and set a $375.00 target price on shares of Wingstop in a report on Tuesday, November 4th. Finally, Stifel Nicolaus lowered their price target on shares of Wingstop from $300.00 to $290.00 and set a “buy” rating on the stock in a report on Wednesday, January 7th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Wingstop presently has a consensus rating of “Moderate Buy” and a consensus price target of $338.93.

Wingstop Profile

Wingstop Inc (NASDAQ: WING) is a fast-casual restaurant chain specializing in chicken wings and related menu items. Founded in 1994 in Garland, Texas, the company has built its brand around bold, chef-inspired wing flavors and a streamlined service model that caters to dine-in, takeout, delivery and catering orders.

The company’s core offerings include both bone-in and boneless chicken wings tossed in a variety of proprietary rubs and sauces, such as Original Hot, Lemon Pepper, and Mango Habanero.