Wingstop Inc. (NASDAQ:WING) Shares Sold by Oppenheimer Asset Management Inc.

Posted by Defense World Staff on May 6th, 2023

Oppenheimer Asset Management Inc. reduced its holdings in Wingstop Inc. (NASDAQ:WING – Get Rating) by 14.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,780 shares of the restaurant operator’s stock after selling 1,298 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Wingstop were worth $1,071,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of WING. Tremblant Capital Group boosted its stake in shares of Wingstop by 69.1% in the third quarter. Tremblant Capital Group now owns 397,584 shares of the restaurant operator’s stock worth $49,865,000 after acquiring an additional 162,471 shares during the last quarter. Lisanti Capital Growth LLC acquired a new stake in shares of Wingstop in the third quarter worth approximately $15,925,000. Lord Abbett & CO. LLC acquired a new stake in shares of Wingstop in the third quarter worth approximately $15,503,000. Macquarie Group Ltd. boosted its stake in shares of Wingstop by 1,318.7% in the third quarter. Macquarie Group Ltd. now owns 124,079 shares of the restaurant operator’s stock worth $15,611,000 after acquiring an additional 115,333 shares during the last quarter. Finally, Copeland Capital Management LLC boosted its stake in shares of Wingstop by 16.9% in the fourth quarter. Copeland Capital Management LLC now owns 461,517 shares of the restaurant operator’s stock worth $63,515,000 after acquiring an additional 66,780 shares during the last quarter.

Wingstop Trading Up 1.3 %

WING stock opened at $210.23 on Friday. The business’s fifty day moving average price is $183.65 and its 200 day moving average price is $164.03. Wingstop Inc. has a 12-month low of $67.67 and a 12-month high of $223.77. The company has a market capitalization of $6.30 billion, a PE ratio of 105.12, a P/E/G ratio of 5.18 and a beta of 1.60.

Wingstop (NASDAQ:WING – Get Rating) last released its earnings results on Wednesday, May 3rd. The restaurant operator reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.13. Wingstop had a net margin of 15.37% and a negative return on equity of 15.81%. The firm had revenue of $108.70 million for the quarter, compared to analyst estimates of $99.48 million. During the same period in the prior year, the firm earned $0.34 earnings per share. The business’s quarterly revenue was up 42.7% compared to the same quarter last year. Research analysts predict that Wingstop Inc. will post 2 EPS for the current fiscal year.

Wingstop Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 9th. Shareholders of record on Friday, May 19th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Thursday, May 18th. This represents a $0.76 annualized dividend and a yield of 0.36%. Wingstop’s dividend payout ratio is currently 38.00%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Cowen lifted their price target on Wingstop from $180.00 to $200.00 in a research note on Thursday, February 23rd. Barclays lifted their price objective on Wingstop from $205.00 to $240.00 in a research report on Thursday. Citigroup downgraded Wingstop from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $204.00 to $224.00 in a research report on Thursday. Morgan Stanley lifted their price objective on Wingstop from $163.00 to $167.00 and gave the stock an “equal weight” rating in a research report on Monday, April 17th. Finally, TheStreet upgraded Wingstop from a “c+” rating to a “b” rating in a research report on Wednesday, February 22nd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $187.06.

Insider Buying and Selling at Wingstop

In other Wingstop news, SVP Donnie Upshaw sold 1,088 shares of the stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $172.50, for a total value of $187,680.00. Following the transaction, the senior vice president now directly owns 6,007 shares in the company, valued at $1,036,207.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Wingstop news, SVP Donnie Upshaw sold 1,088 shares of the stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $172.50, for a total value of $187,680.00. Following the transaction, the senior vice president now directly owns 6,007 shares in the company, valued at $1,036,207.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Krishnan Anand sold 862 shares of the firm’s stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $173.21, for a total transaction of $149,307.02. Following the transaction, the director now owns 3,639 shares in the company, valued at $630,311.19. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by insiders.

Wingstop Company Profile

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Wingstop, Inc is a franchisor and operator of restaurants, which engages in the provision of cooked-to-order, hand-sauced, and tossed chicken wings. The company was founded in 1994 and is headquartered in Addison, TX.