Diametric Capital LP Buys Shares of 6,666 Wingstop Inc. (NASDAQ:WING)

Diametric Capital LP acquired a new stake in Wingstop Inc. (NASDAQ:WING) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,666 shares of the restaurant operator’s stock, valued at approximately $1,894,000. Wingstop accounts for about 1.3% of Diametric Capital LP’s holdings, making the stock its 12th biggest holding.

Other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its holdings in Wingstop by 521.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 87 shares of the restaurant operator’s stock valued at $25,000 after purchasing an additional 73 shares during the period. CBIZ Investment Advisory Services LLC raised its holdings in Wingstop by 62.5% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 91 shares of the restaurant operator’s stock worth $26,000 after purchasing an additional 35 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Wingstop in the 4th quarter valued at $30,000. True Wealth Design LLC bought a new stake in shares of Wingstop in the 3rd quarter valued at $36,000. Finally, V Square Quantitative Management LLC increased its position in shares of Wingstop by 34.9% during the fourth quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator’s stock worth $41,000 after buying an additional 37 shares during the period.

Wingstop Trading Up 0.7 %

Shares of Wingstop stock opened at $225.58 on Tuesday. The company has a market capitalization of $6.29 billion, a P/E ratio of 60.80, a price-to-earnings-growth ratio of 2.27 and a beta of 1.88. The stock has a fifty day simple moving average of $256.50 and a 200 day simple moving average of $310.78. Wingstop Inc. has a 12-month low of $205.60 and a 12-month high of $433.86.

Wingstop declared that its board has authorized a stock repurchase program on Thursday, December 5th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the restaurant operator to purchase up to 5.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Wingstop Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.08 annualized dividend and a dividend yield of 0.48%. Wingstop’s payout ratio is 29.11%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on WING. Wedbush dropped their target price on shares of Wingstop from $390.00 to $355.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. Stifel Nicolaus cut their target price on Wingstop from $375.00 to $350.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. BMO Capital Markets decreased their target price on Wingstop from $335.00 to $300.00 and set a “market perform” rating for the company in a research note on Thursday, February 20th. Stephens reissued an “overweight” rating and issued a $450.00 price target on shares of Wingstop in a research note on Wednesday, February 19th. Finally, Jefferies Financial Group raised shares of Wingstop from a “hold” rating to a “buy” rating and set a $270.00 price objective for the company in a research report on Monday. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $350.73.

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.