Nationwide Fund Advisors Reduces Position in Wingstop Inc (WING)
Nationwide Fund Advisors lowered its position in Wingstop Inc (NASDAQ:WING) by 1.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 196,329 shares of the restaurant operator’s stock after selling 3,117 shares during the quarter. Nationwide Fund Advisors owned approximately 0.68% of Wingstop worth $6,528,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Pier Capital LLC purchased a new position in Wingstop in the second quarter worth approximately $7,703,000. Goldman Sachs Group Inc. lifted its stake in Wingstop by 56.3% in the second quarter. Goldman Sachs Group Inc. now owns 1,453,769 shares of the restaurant operator’s stock worth $44,921,000 after acquiring an additional 523,811 shares during the last quarter. Cadence Capital Management LLC lifted its stake in Wingstop by 85.2% in the second quarter. Cadence Capital Management LLC now owns 18,300 shares of the restaurant operator’s stock worth $565,000 after acquiring an additional 8,420 shares during the last quarter. Timpani Capital Management LLC purchased a new position in Wingstop in the second quarter worth approximately $2,084,000. Finally, Fortaleza Asset Management Inc. purchased a new position in Wingstop in the second quarter worth approximately $108,000.
Wingstop Inc (NASDAQ:WING) opened at $41.45 on Tuesday. The company has a market cap of $1,184.17, a price-to-earnings ratio of 56.53, a PEG ratio of 2.87 and a beta of 0.69. Wingstop Inc has a 1-year low of $24.74 and a 1-year high of $41.47. The company has a debt-to-equity ratio of -2.37, a current ratio of 0.89 and a quick ratio of 0.89.
Wingstop (NASDAQ:WING) last announced its earnings results on Thursday, November 2nd. The restaurant operator reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. The business had revenue of $26.03 million for the quarter, compared to analysts’ expectations of $25.13 million. Wingstop had a net margin of 20.70% and a negative return on equity of 32.39%. The company’s quarterly revenue was up 19.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.13 EPS. analysts predict that Wingstop Inc will post 0.73 earnings per share for the current fiscal year.
The company also recently disclosed a None dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Monday, December 4th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Friday, December 1st. This represents a yield of 0.77%. Wingstop’s dividend payout ratio is currently 19.44%.
In other Wingstop news, insider Lawrence Kruguer sold 10,526 shares of the business’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $33.67, for a total value of $354,410.42. Following the transaction, the insider now directly owns 22,116 shares of the company’s stock, valued at approximately $744,645.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Flynn Dekker sold 16,350 shares of the business’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $35.77, for a total transaction of $584,839.50. The disclosure for this sale can be found here. Insiders own 1.76% of the company’s stock.
A number of research analysts recently issued reports on WING shares. Robert W. Baird reiterated a “buy” rating and issued a $39.00 price target on shares of Wingstop in a research note on Monday, October 9th. Stifel Nicolaus upgraded shares of Wingstop from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $35.00 to $40.00 in a research report on Friday, November 3rd. Zacks Investment Research downgraded shares of Wingstop from a “hold” rating to a “sell” rating in a research report on Wednesday, October 18th. Longbow Research assumed coverage on shares of Wingstop in a research report on Friday, October 13th. They set a “neutral” rating for the company. Finally, Jefferies Group restated a “hold” rating and set a $28.00 price objective on shares of Wingstop in a research report on Thursday, October 12th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $37.50.
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Wingstop Inc is franchisor and operator of restaurants that specializes in cooked-to-order, hand-sauced and tossed chicken wings. The Company operates through two segments: Franchise and Company. As of December 31, 2016, the Company offers its guests 11 flavors on bone-in and boneless chicken wings paired with hand-cut, seasoned fries and sides.
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