Wingstop Inc (WING) Holdings Cut by Spark Investment Management LLC

Spark Investment Management LLC lowered its stake in shares of Wingstop Inc (NASDAQ:WING) by 48.2% in the first quarter, HoldingsChannel.com reports. The firm owned 20,525 shares of the restaurant operator’s stock after selling 19,075 shares during the period. Spark Investment Management LLC’s holdings in Wingstop were worth $1,560,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Captrust Financial Advisors grew its holdings in shares of Wingstop by 165.4% during the fourth quarter. Captrust Financial Advisors now owns 929 shares of the restaurant operator’s stock worth $60,000 after purchasing an additional 579 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Wingstop by 16.0% during the 4th quarter. Bank of Montreal Can now owns 1,525 shares of the restaurant operator’s stock worth $98,000 after buying an additional 210 shares during the last quarter. Advisors Asset Management Inc. lifted its position in shares of Wingstop by 200.8% during the 4th quarter. Advisors Asset Management Inc. now owns 3,204 shares of the restaurant operator’s stock worth $206,000 after buying an additional 2,139 shares during the last quarter. Parametrica Management Ltd bought a new stake in shares of Wingstop during the 4th quarter worth $206,000. Finally, First Mercantile Trust Co. bought a new stake in shares of Wingstop during the 1st quarter worth $209,000.

In related news, insider Lawrence Kruguer sold 1,902 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $65.27, for a total transaction of $124,143.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles R. Morrison sold 20,009 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $78.10, for a total value of $1,562,702.90. Following the sale, the chief executive officer now directly owns 123,007 shares of the company’s stock, valued at approximately $9,606,846.70. The disclosure for this sale can be found here. Insiders have sold 50,269 shares of company stock valued at $3,654,678 in the last ninety days. 1.00% of the stock is currently owned by insiders.

Several analysts recently weighed in on WING shares. Guggenheim downgraded Wingstop from a “buy” rating to a “neutral” rating and set a $72.00 price objective for the company. in a research report on Tuesday, April 2nd. BidaskClub raised Wingstop from a “hold” rating to a “buy” rating in a research note on Saturday, March 16th. Stephens increased their price target on Wingstop from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. Wedbush reissued a “buy” rating and issued a $74.00 price target (up previously from $69.00) on shares of Wingstop in a research note on Wednesday, March 13th. Finally, Wells Fargo & Co increased their price target on Wingstop from $76.00 to $84.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $70.99.

NASDAQ WING traded up $1.02 during trading hours on Tuesday, hitting $80.88. 9,688 shares of the company’s stock were exchanged, compared to its average volume of 541,807. Wingstop Inc has a 1-year low of $47.83 and a 1-year high of $80.76. The stock has a market capitalization of $2.33 billion, a P/E ratio of 96.48, a P/E/G ratio of 5.49 and a beta of 0.85.

Wingstop (NASDAQ:WING) last released its earnings results on Tuesday, May 7th. The restaurant operator reported $0.22 EPS for the quarter, topping the consensus estimate of $0.20 by $0.02. Wingstop had a negative return on equity of 13.31% and a net margin of 13.52%. The business had revenue of $48.05 million during the quarter, compared to analysts’ expectations of $45.68 million. During the same quarter last year, the firm posted $0.25 earnings per share. The firm’s revenue was up 28.5% on a year-over-year basis. As a group, sell-side analysts predict that Wingstop Inc will post 0.74 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $0.36 annualized dividend and a yield of 0.45%. Wingstop’s dividend payout ratio is currently 42.86%.

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Wingstop Company Profile

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand name. Its restaurants offer cooked-to-order, hand-sauced, and tossed chicken wings. As of December 29, 2018, the company operated approximately 1,252 restaurants in the United States, Mexico, Panama, Singapore, Indonesia, the United Arab Emirates, the United Kingdom, Malaysia, Saudi Arabia, and Colombia.

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Want to see what other hedge funds are holding WING? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wingstop Inc (NASDAQ:WING).

Institutional Ownership by Quarter for Wingstop (NASDAQ:WING)

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