WCM Investment Management LLC Has $25.86 Million Stock Holdings in Wingstop Inc. $WING

WCM Investment Management LLC grew its stake in shares of Wingstop Inc. (NASDAQ:WING) by 123.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 102,687 shares of the restaurant operator’s stock after acquiring an additional 56,833 shares during the period. WCM Investment Management LLC’s holdings in Wingstop were worth $25,861,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Wingstop in the 2nd quarter valued at approximately $118,211,000. Wasatch Advisors LP acquired a new position in shares of Wingstop during the 2nd quarter worth $114,758,000. Artisan Partners Limited Partnership raised its holdings in shares of Wingstop by 83.1% during the 2nd quarter. Artisan Partners Limited Partnership now owns 737,369 shares of the restaurant operator’s stock valued at $248,302,000 after purchasing an additional 334,583 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Wingstop by 50.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 949,033 shares of the restaurant operator’s stock valued at $238,853,000 after purchasing an additional 316,328 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in Wingstop by 23.3% in the second quarter. American Century Companies Inc. now owns 1,557,383 shares of the restaurant operator’s stock worth $524,433,000 after purchasing an additional 294,786 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on WING shares. Raymond James Financial reiterated a “strong-buy” rating and set a $350.00 price target (down previously from $420.00) on shares of Wingstop in a research note on Thursday, October 16th. Northcoast Research upgraded shares of Wingstop from a “neutral” rating to a “buy” rating and set a $300.00 target price on the stock in a report on Wednesday, November 5th. Mizuho lowered their price target on Wingstop from $320.00 to $310.00 and set an “outperform” rating on the stock in a research report on Friday, January 9th. Royal Bank Of Canada raised their target price on Wingstop from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Tuesday, December 9th. Finally, Stephens restated an “overweight” rating and issued a $375.00 price objective on shares of Wingstop in a research note on Tuesday, November 4th. Four analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $340.00.

Wingstop Trading Up 0.5%

Shares of NASDAQ WING opened at $266.66 on Tuesday. The firm has a market capitalization of $7.41 billion, a price-to-earnings ratio of 43.43, a PEG ratio of 3.33 and a beta of 1.80. The business has a fifty day simple moving average of $260.25 and a 200 day simple moving average of $273.48. Wingstop Inc. has a one year low of $204.00 and a one year high of $388.14.

Wingstop (NASDAQ:WING) last released its quarterly earnings data on Tuesday, November 4th. The restaurant operator reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.18. Wingstop had a net margin of 25.51% and a negative return on equity of 16.17%. The company had revenue of $175.74 million during the quarter, compared to the consensus estimate of $189.10 million. During the same period last year, the firm earned $0.88 EPS. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, research analysts anticipate that Wingstop Inc. will post 4.18 earnings per share for the current fiscal year.

Insider Activity at Wingstop

In related news, Director Kilandigalu Madati sold 269 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $259.97, for a total transaction of $69,931.93. Following the completion of the transaction, the director owned 5,283 shares in the company, valued at $1,373,421.51. This trade represents a 4.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.72% of the stock is owned by company 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.