CenterBook Partners LP Buys New Stake in Wingstop Inc. $WING

CenterBook Partners LP bought a new stake in shares of Wingstop Inc. (NASDAQ:WING) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 21,409 shares of the restaurant operator’s stock, valued at approximately $2,256,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in Wingstop in the second quarter worth $481,314,000. Darsana Capital Partners LP boosted its holdings in Wingstop by 20.0% in the second quarter. Darsana Capital Partners LP now owns 1,500,000 shares of the restaurant operator’s stock valued at $260,115,000 after acquiring an additional 250,000 shares in the last quarter. Alyeska Investment Group L.P. increased its position in Wingstop by 44.5% during the 2nd quarter. Alyeska Investment Group L.P. now owns 942,943 shares of the restaurant operator’s stock valued at $163,516,000 after purchasing an additional 290,501 shares during the period. State Street Corp increased its position in Wingstop by 2.0% during the 2nd quarter. State Street Corp now owns 863,951 shares of the restaurant operator’s stock valued at $149,751,000 after purchasing an additional 16,907 shares during the period. Finally, Jupiter Topco LLC purchased a new position in Wingstop during the 2nd quarter valued at $147,440,000.

Insiders Place Their Bets

In related news, Director Wesley S. Mcdonald sold 1,520 shares of the stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $145.11, for a total value of $220,567.20. Following the completion of the transaction, the director directly owned 3,986 shares in the company, valued at $578,408.46. This trade represents a 27.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Raj Kapoor sold 2,500 shares of the stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $163.61, for a total transaction of $409,025.00. Following the completion of the transaction, the chief operating officer owned 1,659 shares of the company’s stock, valued at approximately $271,428.99. The trade was a 60.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.53% of the company’s stock.

Wingstop Price Performance

NASDAQ WING opened at $163.28 on Monday. Wingstop Inc. has a twelve month low of $95.82 and a twelve month high of $302.80. The firm has a market capitalization of $4.42 billion, a PE ratio of 38.33, a P/E/G ratio of 2.17 and a beta of 1.77. The stock’s 50 day moving average is $120.15 and its 200 day moving average is $161.84.

Wingstop (NASDAQ:WING) last posted its quarterly earnings data on Wednesday, October 28th. The restaurant operator reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.06. The business had revenue of $185.13 million during the quarter, compared to the consensus estimate of $192.89 million. Wingstop had a negative return on equity of 15.80% and a net margin of 16.03%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.09 earnings per share. On average, research analysts anticipate that Wingstop Inc. will post 4.19 earnings per share for the current year.

Wingstop Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Stockholders of record on Friday, November 13th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, November 13th. Wingstop’s payout ratio is 30.99%.

Analyst Ratings Changes

Several brokerages have commented on WING. Benchmark decreased their price objective on shares of Wingstop from $285.00 to $245.00 and set a “buy” rating for the company in a report on Thursday, July 30th. UBS Group raised their target price on shares of Wingstop from $140.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, October 29th. Citigroup cut their target price on shares of Wingstop from $191.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, October 29th. Robert W. Baird reduced their price target on shares of Wingstop from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, October 22nd. Finally, Wells Fargo & Company increased their price target on shares of Wingstop from $165.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, October 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $219.56.

About Wingstop

Wingstop Inc is a restaurant company focused on chicken wings and related menu items. Its offerings include classic and boneless wings with a range of flavors, as well as chicken tenders, fries, dips and other sides. Customers can order through its restaurants and digital channels.

Founded in 1994 in Garland, Texas, Wingstop has grown into an international brand. The company operates primarily through franchised restaurants in the United States and select international markets.

Wingstop is headquartered in Addison, Texas.