Private Advisor Group LLC Lowers Stake in Wingstop Inc. (NASDAQ:WING)

Private Advisor Group LLC trimmed its stake in Wingstop Inc. (NASDAQ:WING) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,805 shares of the restaurant operator’s stock after selling 70 shares during the quarter. Private Advisor Group LLC’s holdings in Wingstop were worth $513,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. True Wealth Design LLC purchased a new stake in Wingstop in the third quarter valued at approximately $36,000. V Square Quantitative Management LLC grew its holdings in Wingstop by 34.9% in the fourth quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator’s stock valued at $41,000 after purchasing an additional 37 shares during the period. Hollencrest Capital Management grew its holdings in Wingstop by 53.8% in the third quarter. Hollencrest Capital Management now owns 100 shares of the restaurant operator’s stock valued at $42,000 after purchasing an additional 35 shares during the period. R Squared Ltd purchased a new stake in Wingstop in the fourth quarter valued at approximately $71,000. Finally, Blue Trust Inc. lifted its position in Wingstop by 103.2% during the fourth quarter. Blue Trust Inc. now owns 256 shares of the restaurant operator’s stock valued at $73,000 after buying an additional 130 shares in the last quarter.

Wingstop Price Performance

WING opened at $224.29 on Tuesday. The stock has a market capitalization of $6.43 billion, a PE ratio of 60.46, a P/E/G ratio of 2.27 and a beta of 1.81. The firm’s fifty day moving average price is $281.73 and its 200 day moving average price is $334.06. Wingstop Inc. has a 12-month low of $219.12 and a 12-month high of $433.86.

Wingstop announced that its board has authorized a stock repurchase plan on Thursday, December 5th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the restaurant operator to reacquire up to 5.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Wingstop Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be issued a $0.27 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.08 annualized dividend and a yield of 0.48%. Wingstop’s dividend payout ratio is presently 29.11%.

Insider Buying and Selling at Wingstop

In other Wingstop news, SVP Raj Kapoor sold 266 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $324.38, for a total transaction of $86,285.08. Following the completion of the sale, the senior vice president now owns 266 shares in the company, valued at $86,285.08. The trade was a 50.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.36% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

WING has been the topic of a number of recent research reports. Barclays reduced their price target on shares of Wingstop from $359.00 to $315.00 and set an “overweight” rating on the stock in a research report on Thursday, February 20th. Piper Sandler reduced their price target on shares of Wingstop from $375.00 to $300.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. The Goldman Sachs Group raised shares of Wingstop from a “neutral” rating to a “buy” rating and reduced their price target for the company from $458.00 to $377.00 in a research report on Friday, November 8th. Wedbush reduced their price target on shares of Wingstop from $390.00 to $355.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Finally, Guggenheim raised shares of Wingstop from a “neutral” rating to a “buy” rating and set a $280.00 price target on the stock in a research report on Monday, February 24th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $357.67.

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.