Wingstop Inc. (NASDAQ:WING) Shares Sold by Highland Capital Management LLC

Highland Capital Management LLC trimmed its holdings in Wingstop Inc. (NASDAQ:WING) by 16.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,659 shares of the restaurant operator’s stock after selling 725 shares during the quarter. Highland Capital Management LLC’s holdings in Wingstop were worth $1,547,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Rise Advisors LLC acquired a new stake in shares of Wingstop during the 1st quarter worth approximately $29,000. Massmutual Trust Co. FSB ADV raised its position in Wingstop by 60.3% in the second quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock valued at $39,000 after purchasing an additional 35 shares during the period. GAMMA Investing LLC boosted its position in shares of Wingstop by 53.3% during the first quarter. GAMMA Investing LLC now owns 115 shares of the restaurant operator’s stock worth $42,000 after buying an additional 40 shares during the period. Family Firm Inc. acquired a new stake in shares of Wingstop in the second quarter valued at $62,000. Finally, Riverview Trust Co purchased a new stake in shares of Wingstop in the 1st quarter valued at $66,000.

Insider Transactions at Wingstop

In other news, SVP Donnie Upshaw sold 3,199 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $372.71, for a total value of $1,192,299.29. Following the completion of the transaction, the senior vice president now owns 97 shares of the company’s stock, valued at $36,152.87. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Wingstop news, SVP Donnie Upshaw sold 3,199 shares of Wingstop stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $372.71, for a total value of $1,192,299.29. Following the transaction, the senior vice president now owns 97 shares in the company, valued at $36,152.87. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kilandigalu Madati sold 645 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $395.74, for a total value of $255,252.30. Following the completion of the transaction, the director now owns 5,147 shares of the company’s stock, valued at approximately $2,036,873.78. The disclosure for this sale can be found here. Insiders own 0.36% of the company’s stock.

Wingstop Price Performance

WING traded down $0.75 on Monday, reaching $403.14. The company’s stock had a trading volume of 7,346 shares, compared to its average volume of 453,774. Wingstop Inc. has a 1 year low of $150.08 and a 1 year high of $431.03. The business’s 50 day moving average is $389.75 and its 200 day moving average is $372.73. The stock has a market cap of $11.81 billion, a price-to-earnings ratio of 143.73, a price-to-earnings-growth ratio of 3.86 and a beta of 1.70.

Wingstop (NASDAQ:WING) last announced its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.11. Wingstop had a negative return on equity of 21.18% and a net margin of 17.33%. The business had revenue of $155.70 million for the quarter, compared to analysts’ expectations of $146.04 million. During the same period in the prior year, the firm earned $0.57 EPS. The business’s quarterly revenue was up 45.3% on a year-over-year basis. As a group, research analysts forecast that Wingstop Inc. will post 3.75 earnings per share for the current fiscal year.

Wingstop Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 16th will be issued a dividend of $0.27 per share. This is an increase from Wingstop’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, August 16th. This represents a $1.08 annualized dividend and a dividend yield of 0.27%. Wingstop’s payout ratio is 38.43%.

Analysts Set New Price Targets

WING has been the subject of a number of recent analyst reports. Benchmark reaffirmed a “hold” rating on shares of Wingstop in a report on Thursday, May 2nd. Piper Sandler boosted their price target on shares of Wingstop from $353.00 to $375.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Stephens restated an “overweight” rating and set a $475.00 target price on shares of Wingstop in a research report on Wednesday, August 14th. Citigroup lifted their price objective on Wingstop from $375.00 to $398.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Finally, The Goldman Sachs Group increased their price target on shares of Wingstop from $407.00 to $458.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Wingstop presently has a consensus rating of “Hold” and an average price target of $378.65.

About Wingstop

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand. Its restaurants offer classic wings, boneless wings, tenders, and hand-sauced-and-tossed in various flavors, as well as chicken sandwiches with fries and hand-cut carrots and celery that are cooked-to-order.