Picton Mahoney Asset Management Takes Position in Wingstop Inc. $WING

Picton Mahoney Asset Management purchased a new stake in Wingstop Inc. (NASDAQ:WING) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 5,773 shares of the restaurant operator’s stock, valued at approximately $1,453,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC lifted its position in Wingstop by 1,650.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 105 shares of the restaurant operator’s stock valued at $26,000 after purchasing an additional 99 shares during the period. Hantz Financial Services Inc. raised its stake in shares of Wingstop by 4,200.0% during the second quarter. Hantz Financial Services Inc. now owns 129 shares of the restaurant operator’s stock worth $43,000 after buying an additional 126 shares during the last quarter. CBIZ Investment Advisory Services LLC lifted its holdings in Wingstop by 54.3% in the third quarter. CBIZ Investment Advisory Services LLC now owns 142 shares of the restaurant operator’s stock valued at $36,000 after buying an additional 50 shares during the period. True Wealth Design LLC lifted its holdings in Wingstop by 623.8% in the second quarter. True Wealth Design LLC now owns 152 shares of the restaurant operator’s stock valued at $51,000 after buying an additional 131 shares during the period. Finally, Smartleaf Asset Management LLC boosted its stake in Wingstop by 75.9% in the third quarter. Smartleaf Asset Management LLC now owns 204 shares of the restaurant operator’s stock valued at $51,000 after acquiring an additional 88 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages have commented on WING. Loop Capital initiated coverage on shares of Wingstop in a research report on Friday, January 9th. They set a “buy” rating and a $317.00 target price for the company. Mizuho decreased their price objective on Wingstop from $320.00 to $310.00 and set an “outperform” rating for the company in a research note on Friday, January 9th. Benchmark reiterated a “buy” rating on shares of Wingstop in a report on Thursday, February 19th. The Goldman Sachs Group reissued a “buy” rating and issued a $335.00 target price on shares of Wingstop in a research note on Wednesday, February 18th. Finally, TD Cowen restated a “hold” rating and set a $285.00 target price on shares of Wingstop in a research report on Wednesday, February 18th. Four research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $336.07.

Wingstop Trading Down 1.2%

Shares of Wingstop stock opened at $236.46 on Friday. The stock’s fifty day simple moving average is $259.91 and its 200 day simple moving average is $262.11. The company has a market capitalization of $6.50 billion, a PE ratio of 38.26, a PEG ratio of 2.62 and a beta of 1.82. Wingstop Inc. has a 12 month low of $204.00 and a 12 month high of $388.14.

Wingstop (NASDAQ:WING) last posted its earnings results on Wednesday, February 18th. The restaurant operator reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.16. The firm had revenue of $175.69 million during the quarter, compared to analysts’ expectations of $177.74 million. Wingstop had a negative return on equity of 16.12% and a net margin of 25.01%.The company’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.92 earnings per share. Analysts predict that Wingstop Inc. will post 4.18 EPS for the current fiscal year.

Wingstop Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 6th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Friday, March 6th. Wingstop’s dividend payout ratio is presently 19.42%.

Insider Buying and Selling

In other Wingstop news, Director Kilandigalu Madati sold 2,700 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $260.73, for a total transaction of $703,971.00. Following the sale, the director directly owned 2,583 shares in the company, valued at approximately $673,465.59. This trade represents a 51.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Wesley S. Mcdonald sold 566 shares of Wingstop stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $250.00, for a total transaction of $141,500.00. Following the completion of the transaction, the director directly owned 4,375 shares in the company, valued at approximately $1,093,750. The trade was a 11.46% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.72% of the stock is currently owned by corporate insiders.

Wingstop Company Profile

Wingstop Inc (NASDAQ: WING) is a fast-casual restaurant chain specializing in chicken wings and related menu items. Founded in 1994 in Garland, Texas, the company has built its brand around bold, chef-inspired wing flavors and a streamlined service model that caters to dine-in, takeout, delivery and catering orders.

The company’s core offerings include both bone-in and boneless chicken wings tossed in a variety of proprietary rubs and sauces, such as Original Hot, Lemon Pepper, and Mango Habanero.