Allianz Asset Management GmbH Cuts Position in Wingstop Inc. $WING

Allianz Asset Management GmbH decreased its position in shares of Wingstop Inc. (NASDAQ:WING) by 19.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,228 shares of the restaurant operator’s stock after selling 4,209 shares during the period. Allianz Asset Management GmbH owned approximately 0.06% of Wingstop worth $4,336,000 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 WING. Quaker Wealth Management LLC raised its holdings in shares of Wingstop by 134.2% during the 2nd quarter. Quaker Wealth Management LLC now owns 104 shares of the restaurant operator’s stock valued at $35,000 after buying an additional 408 shares in the last quarter. Hantz Financial Services Inc. raised its stake in shares of Wingstop by 4,200.0% during the second quarter. Hantz Financial Services Inc. now owns 129 shares of the restaurant operator’s stock worth $43,000 after acquiring an additional 126 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Wingstop by 121.4% during the first quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator’s stock worth $49,000 after acquiring an additional 119 shares in the last quarter. True Wealth Design LLC lifted its holdings in shares of Wingstop by 623.8% in the 2nd quarter. True Wealth Design LLC now owns 152 shares of the restaurant operator’s stock worth $51,000 after acquiring an additional 131 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in shares of Wingstop by 182.5% in the 2nd quarter. Allworth Financial LP now owns 226 shares of the restaurant operator’s stock valued at $76,000 after purchasing an additional 146 shares in the last quarter.

Insiders Place Their Bets

In other Wingstop news, Director Kilandigalu Madati sold 269 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $259.97, for a total value of $69,931.93. Following the completion of the transaction, the director owned 5,283 shares in the company, valued at approximately $1,373,421.51. This 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 can be accessed through this link. 0.72% of the stock is currently owned by insiders.

Analysts Set New Price Targets

WING has been the topic of a number of analyst reports. Wells Fargo & Company decreased their target price on shares of Wingstop from $365.00 to $330.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Melius Research set a $350.00 target price on Wingstop in a research note on Tuesday, January 20th. Weiss Ratings restated a “hold (c)” rating on shares of Wingstop in a report on Monday, December 29th. Loop Capital started coverage on Wingstop in a research note on Friday, January 9th. They issued a “buy” rating and a $317.00 price target on the stock. Finally, Truist Financial lowered their price objective on Wingstop from $400.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Four 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $338.93.

Wingstop Stock Performance

Wingstop stock opened at $259.64 on Wednesday. Wingstop Inc. has a fifty-two week low of $204.00 and a fifty-two week high of $388.14. The stock’s 50 day simple moving average is $261.03 and its two-hundred day simple moving average is $271.62. The stock has a market cap of $7.22 billion, a price-to-earnings ratio of 42.29, a PEG ratio of 3.54 and a beta of 1.80.

Wingstop Company 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.