Park Avenue Securities LLC trimmed its holdings in shares of Wingstop Inc. (NASDAQ:WING – Free Report) by 3.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,879 shares of the restaurant operator’s stock after selling 99 shares during the quarter. Park Avenue Securities LLC’s holdings in Wingstop were worth $1,198,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Hollencrest Capital Management purchased a new stake in Wingstop during the second quarter worth about $27,000. Rise Advisors LLC purchased a new stake in shares of Wingstop during the 1st quarter worth approximately $29,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Wingstop in the 2nd quarter worth approximately $34,000. Massmutual Trust Co. FSB ADV lifted its stake in Wingstop by 60.3% in the second quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock valued at $39,000 after purchasing an additional 35 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Wingstop by 53.3% during the first quarter. GAMMA Investing LLC now owns 115 shares of the restaurant operator’s stock valued at $42,000 after purchasing an additional 40 shares during the period.
Insiders Place Their Bets
In related news, SVP Donnie Upshaw sold 3,199 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $372.71, for a total transaction of $1,192,299.29. Following the completion of the transaction, the senior vice president now owns 97 shares in the company, valued at $36,152.87. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.36% of the company’s stock.
Analyst Upgrades and Downgrades
Read Our Latest Stock Report on WING
Wingstop Stock Performance
NASDAQ:WING opened at $403.52 on Wednesday. Wingstop Inc. has a fifty-two week low of $172.09 and a fifty-two week high of $433.86. The firm has a market cap of $11.82 billion, a PE ratio of 143.60, a price-to-earnings-growth ratio of 4.15 and a beta of 1.71. The business has a 50 day moving average price of $392.32 and a 200-day moving average price of $387.29.
Wingstop (NASDAQ:WING – Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.11. Wingstop had a net margin of 17.33% and a negative return on equity of 21.18%. The business had revenue of $155.70 million during the quarter, compared to analysts’ expectations of $146.04 million. During the same quarter in the prior year, the company posted $0.57 EPS. The firm’s revenue for the quarter was up 45.3% compared to the same quarter last year. Research analysts predict that Wingstop Inc. will post 3.78 EPS for the current year.
Wingstop Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 16th were given a dividend of $0.27 per share. This is a positive change from Wingstop’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, August 16th. This represents a $1.08 dividend on an annualized basis and a yield of 0.27%. Wingstop’s dividend payout ratio is presently 38.43%.
About Wingstop
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.
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