Wingstop (NASDAQ:WING) Stock Crosses Below Two Hundred Day Moving Average – Should You Sell?

Wingstop Inc. (NASDAQ:WING) shares passed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $159.82 and traded as low as $158.16. Wingstop shares last traded at $159.26, with a volume of 993,076 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on WING. Citigroup decreased their price target on Wingstop from $191.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, October 29th. Piper Sandler set a $173.00 price target on Wingstop in a report on Wednesday, July 29th. Wells Fargo & Company increased their price objective on Wingstop from $165.00 to $170.00 and gave the company an “overweight” rating in a research report on Thursday, October 29th. Stephens reiterated an “overweight” rating and issued a $200.00 price objective on shares of Wingstop in a report on Thursday, October 29th. Finally, UBS Group boosted their target price on Wingstop from $140.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Wingstop has a consensus rating of “Moderate Buy” and an average target price of $219.56.

Wingstop Stock Down 4.5%

The company has a market cap of $4.31 billion, a PE ratio of 37.38, a PEG ratio of 2.21 and a beta of 1.77. The company’s fifty day moving average is $124.69 and its 200-day moving average is $159.82.

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

Wingstop Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Friday, November 13th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.32 annualized dividend and a dividend yield of 0.8%. Wingstop’s payout ratio is presently 30.99%.

Insiders Place Their Bets

In other Wingstop news, 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 value of $409,025.00. Following the transaction, the chief operating officer owned 1,659 shares of the company’s stock, valued at approximately $271,428.99. This represents a 60.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Wesley S. Mcdonald sold 1,520 shares of the firm’s stock in a transaction dated Friday, October 30th. The stock was 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. The trade was a 27.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.53% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Wingstop

Several hedge funds and other institutional investors have recently made changes to their positions in WING. AlphaGrep UK Ltd lifted its position in Wingstop by 120.6% during the third quarter. AlphaGrep UK Ltd now owns 4,300 shares of the restaurant operator’s stock valued at $453,000 after purchasing an additional 2,351 shares in the last quarter. First Trust Advisors LP grew its holdings in Wingstop by 69.2% during the third quarter. First Trust Advisors LP now owns 3,015 shares of the restaurant operator’s stock valued at $318,000 after purchasing an additional 1,233 shares during the period. Whittier Trust Co. grew its holdings in Wingstop by 9,735.7% during the third quarter. Whittier Trust Co. now owns 98,357 shares of the restaurant operator’s stock valued at $10,364,000 after purchasing an additional 97,357 shares during the period. GW&K Investment Management LLC increased its position in Wingstop by 116.8% in the third quarter. GW&K Investment Management LLC now owns 993 shares of the restaurant operator’s stock worth $105,000 after buying an additional 535 shares in the last quarter. Finally, Private Advisor Group LLC increased its position in Wingstop by 38.2% in the third quarter. Private Advisor Group LLC now owns 2,383 shares of the restaurant operator’s stock worth $251,000 after buying an additional 659 shares in the last quarter.

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.