Optimist Retirement Group LLC Purchases 206 Shares of Wingstop Inc. (NASDAQ:WING)

Optimist Retirement Group LLC raised its position in shares of Wingstop Inc. (NASDAQ:WING) by 33.8% in the fourth quarter, HoldingsChannel reports. The firm owned 815 shares of the restaurant operator’s stock after acquiring an additional 206 shares during the period. Optimist Retirement Group LLC’s holdings in Wingstop were worth $232,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. True Wealth Design LLC bought a new stake in shares of Wingstop in the third quarter valued at about $36,000. Hollencrest Capital Management increased its position in Wingstop by 53.8% during the 3rd quarter. Hollencrest Capital Management now owns 100 shares of the restaurant operator’s stock valued at $42,000 after purchasing an additional 35 shares during the period. V Square Quantitative Management LLC raised its holdings in shares of Wingstop by 60.6% in the 3rd quarter. V Square Quantitative Management LLC now owns 106 shares of the restaurant operator’s stock valued at $44,000 after purchasing an additional 40 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Wingstop by 384.6% in the 3rd quarter. Blue Trust Inc. now owns 126 shares of the restaurant operator’s stock worth $53,000 after purchasing an additional 100 shares during the period. Finally, R Squared Ltd bought a new position in shares of Wingstop during the fourth quarter valued at approximately $71,000.

Wingstop Trading Down 0.5 %

NASDAQ:WING opened at $305.39 on Thursday. The company has a market capitalization of $8.92 billion, a P/E ratio of 89.04, a PEG ratio of 2.66 and a beta of 1.81. Wingstop Inc. has a 12 month low of $266.45 and a 12 month high of $433.86. The firm has a fifty day simple moving average of $297.67 and a 200-day simple moving average of $346.83.

Wingstop announced that its board has authorized a share buyback program on Thursday, December 5th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the restaurant operator to reacquire up to 5.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other Wingstop news, SVP Raj Kapoor sold 266 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $324.38, for a total transaction of $86,285.08. Following the completion of the transaction, the senior vice president now directly owns 266 shares of the company’s stock, valued at approximately $86,285.08. This trade represents a 50.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.36% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on WING. Northcoast Research raised shares of Wingstop from a “neutral” rating to a “buy” rating and set a $350.00 price objective for the company in a research note on Friday, November 1st. Raymond James reissued an “outperform” rating and issued a $330.00 price target (down from $375.00) on shares of Wingstop in a research report on Tuesday, January 28th. Stephens reaffirmed an “overweight” rating and set a $468.00 price objective on shares of Wingstop in a research report on Thursday, January 2nd. Wedbush reiterated an “outperform” rating and issued a $390.00 target price on shares of Wingstop in a research note on Tuesday, November 5th. Finally, TD Cowen decreased their price target on shares of Wingstop from $450.00 to $365.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $383.32.

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.