Atria Investments Inc Trims Stake in Wingstop Inc. (NASDAQ:WING)

Atria Investments Inc reduced its stake in shares of Wingstop Inc. (NASDAQ:WING) by 6.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 942 shares of the restaurant operator’s stock after selling 66 shares during the quarter. Atria Investments Inc’s holdings in Wingstop were worth $392,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of WING. Millennium Management LLC increased its position in shares of Wingstop by 284.1% in the second quarter. Millennium Management LLC now owns 383,184 shares of the restaurant operator’s stock valued at $161,957,000 after buying an additional 283,412 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Wingstop by 36.6% during the second quarter. Renaissance Technologies LLC now owns 602,990 shares of the restaurant operator’s stock worth $254,860,000 after purchasing an additional 161,600 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Wingstop by 66.6% during the second quarter. AQR Capital Management LLC now owns 325,920 shares of the restaurant operator’s stock worth $137,753,000 after purchasing an additional 130,248 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Wingstop by 4.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,273,542 shares of the restaurant operator’s stock worth $833,026,000 after purchasing an additional 101,917 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of Wingstop by 41,244.9% during the third quarter. International Assets Investment Management LLC now owns 65,325 shares of the restaurant operator’s stock worth $27,180,000 after purchasing an additional 65,167 shares in the last quarter.

Wall Street Analyst Weigh In

WING has been the topic of a number of recent research reports. Wedbush reissued an “outperform” rating and set a $390.00 price objective on shares of Wingstop in a research note on Tuesday, November 5th. Citigroup boosted their price objective on Wingstop from $417.00 to $440.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. BTIG Research raised Wingstop from a “neutral” rating to a “buy” rating and set a $370.00 price objective on the stock in a research note on Thursday, October 31st. Northcoast Research raised Wingstop from a “neutral” rating to a “buy” rating and set a $350.00 price target on the stock in a research note on Friday, November 1st. Finally, Barclays decreased their price target on Wingstop from $470.00 to $380.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $368.74.

Wingstop Price Performance

WING opened at $337.37 on Friday. The business has a 50 day simple moving average of $372.44 and a 200-day simple moving average of $382.99. The stock has a market capitalization of $9.86 billion, a P/E ratio of 98.36, a P/E/G ratio of 3.13 and a beta of 1.76. Wingstop Inc. has a 12 month low of $229.27 and a 12 month high of $433.86.

Wingstop (NASDAQ:WING) last posted its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.09). Wingstop had a net margin of 17.05% and a negative return on equity of 22.69%. The business had revenue of $162.50 million during the quarter, compared to analyst estimates of $160.24 million. During the same period in the prior year, the business earned $0.69 earnings per share. The firm’s quarterly revenue was up 38.8% compared to the same quarter last year. Research analysts anticipate that Wingstop Inc. will post 3.68 EPS for the current year.

Wingstop Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.32%. The ex-dividend date is Friday, November 15th. Wingstop’s payout ratio is currently 31.49%.

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.