Amalgamated Bank Has $6.43 Million Holdings in Wingstop Inc. (NASDAQ:WING)

Amalgamated Bank trimmed its holdings in Wingstop Inc. (NASDAQ:WING) by 7.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,221 shares of the restaurant operator’s stock after selling 1,160 shares during the period. Amalgamated Bank owned 0.05% of Wingstop worth $6,433,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Mercer Global Advisors Inc. ADV raised its holdings in Wingstop by 2.1% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 2,294 shares of the restaurant operator’s stock valued at $969,000 after acquiring an additional 47 shares in the last quarter. Edgestream Partners L.P. bought a new position in shares of Wingstop in the second quarter worth $6,578,000. Renaissance Technologies LLC raised its stake in Wingstop by 36.6% in the second quarter. Renaissance Technologies LLC now owns 602,990 shares of the restaurant operator’s stock valued at $254,860,000 after purchasing an additional 161,600 shares in the last quarter. Quantbot Technologies LP lifted its position in Wingstop by 1,896.8% during the second quarter. Quantbot Technologies LP now owns 6,909 shares of the restaurant operator’s stock worth $2,920,000 after purchasing an additional 6,563 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in Wingstop by 2.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 600,905 shares of the restaurant operator’s stock worth $253,979,000 after purchasing an additional 16,526 shares during the period.

Wall Street Analysts Forecast Growth

WING has been the topic of several recent analyst reports. Stifel Nicolaus raised their target price on shares of Wingstop from $420.00 to $460.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. The Goldman Sachs Group lifted their price objective on shares of Wingstop from $407.00 to $458.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Raymond James upgraded Wingstop from a “market perform” rating to an “outperform” rating and set a $42.00 target price for the company in a research note on Thursday, August 1st. TD Cowen reiterated a “buy” rating and issued a $450.00 price target on shares of Wingstop in a research note on Wednesday, July 31st. Finally, Wedbush boosted their price target on Wingstop from $425.00 to $440.00 and gave the stock an “outperform” rating in a report on Monday. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $379.53.

Insider Activity

In other news, SVP Donnie Upshaw sold 3,199 shares of the firm’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 sale, 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 is accessible through this link. Company insiders own 0.36% of the company’s stock.

Wingstop Price Performance

Shares of Wingstop stock opened at $421.53 on Friday. The firm has a market cap of $12.35 billion, a price-to-earnings ratio of 150.01, a PEG ratio of 4.09 and a beta of 1.71. The stock’s 50-day moving average is $380.27 and its 200 day moving average is $380.66. Wingstop Inc. has a one year low of $166.65 and a one year high of $431.03.

Wingstop (NASDAQ:WING) last announced its quarterly earnings data on Wednesday, July 31st. The restaurant operator reported $0.93 EPS for the quarter, topping the consensus estimate 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 company’s quarterly revenue was up 45.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.57 EPS. On average, sell-side analysts expect that Wingstop Inc. will post 3.77 EPS for the current fiscal year.

Wingstop Increases Dividend

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