Wingstop Inc. (NASDAQ:WING) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its stake in shares of Wingstop Inc. (NASDAQ:WING) by 20.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 144,944 shares of the restaurant operator’s stock after selling 38,100 shares during the period. Allspring Global Investments Holdings LLC owned about 0.50% of Wingstop worth $42,305,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. SG Americas Securities LLC boosted its position in shares of Wingstop by 277.5% in the fourth quarter. SG Americas Securities LLC now owns 4,771 shares of the restaurant operator’s stock worth $1,356,000 after buying an additional 3,507 shares during the period. Los Angeles Capital Management LLC purchased a new position in Wingstop during the 3rd quarter valued at about $5,010,000. Conway Capital Management Inc. acquired a new position in shares of Wingstop in the 3rd quarter valued at about $3,544,000. Eagle Asset Management Inc. lifted its position in shares of Wingstop by 40.8% in the third quarter. Eagle Asset Management Inc. now owns 465,368 shares of the restaurant operator’s stock worth $193,630,000 after purchasing an additional 134,802 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in Wingstop during the third quarter valued at approximately $874,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Morgan Stanley raised shares of Wingstop from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $385.00 to $389.00 in a research note on Tuesday, January 21st. Stephens reissued an “overweight” rating and set a $468.00 price objective on shares of Wingstop in a research report on Thursday, January 2nd. BTIG Research raised Wingstop from a “neutral” rating to a “buy” rating and set a $370.00 price target for the company in a research note on Thursday, October 31st. Raymond James reissued an “outperform” rating and issued a $330.00 price target (down previously from $375.00) on shares of Wingstop in a research note on Tuesday, January 28th. Finally, Benchmark raised shares of Wingstop from a “hold” rating to a “buy” rating and set a $340.00 price objective on the stock in a research report on Thursday, October 31st. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $385.72.

Insider Transactions at Wingstop

In other news, SVP Raj Kapoor sold 266 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $324.38, for a total value of $86,285.08. Following the transaction, the senior vice president now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.36% of the stock is currently owned by corporate insiders.

Wingstop Trading Down 2.3 %

WING opened at $304.69 on Friday. The firm has a 50-day moving average price of $293.97 and a two-hundred day moving average price of $343.80. Wingstop Inc. has a 1-year low of $266.45 and a 1-year high of $433.86. The stock has a market capitalization of $8.90 billion, a PE ratio of 88.83, a PEG ratio of 2.76 and a beta of 1.81.

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

Wingstop Profile

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.