Wingstop (NASDAQ:WING) Shares Gap Down – Should You Sell?

Wingstop Inc. (NASDAQ:WING)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $281.75, but opened at $265.22. Wingstop shares last traded at $265.78, with a volume of 192,554 shares.

Analyst Ratings Changes

A number of research firms have recently issued reports on WING. Stifel Nicolaus dropped their price objective on shares of Wingstop from $300.00 to $290.00 and set a “buy” rating on the stock in a research note on Wednesday, January 7th. Royal Bank Of Canada lifted their price target on shares of Wingstop from $300.00 to $350.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 9th. BMO Capital Markets decreased their price objective on shares of Wingstop from $345.00 to $280.00 and set a “market perform” rating for the company in a research report on Wednesday, November 5th. Benchmark lowered their target price on Wingstop from $340.00 to $320.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Finally, TD Cowen lowered Wingstop from a “buy” rating to a “hold” rating and dropped their target price for the stock from $310.00 to $285.00 in a research report on Tuesday. Four investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $338.93.

Wingstop Stock Down 4.6%

The stock has a market capitalization of $7.47 billion, a P/E ratio of 43.69, a PEG ratio of 3.31 and a beta of 1.80. The company has a 50 day moving average of $261.33 and a 200-day moving average of $271.92.

Insider Buying and Selling at Wingstop

In related news, Director Kilandigalu Madati sold 269 shares of the business’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $259.97, for a total transaction of $69,931.93. Following the completion of the sale, the director owned 5,283 shares of the company’s stock, valued at $1,373,421.51. This represents a 4.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

Institutional Trading of Wingstop

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Motley Fool Asset Management LLC grew its stake in shares of Wingstop by 64.2% in the 2nd quarter. Motley Fool Asset Management LLC now owns 8,879 shares of the restaurant operator’s stock worth $2,990,000 after purchasing an additional 3,471 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Wingstop by 85.6% during the second quarter. Oppenheimer Asset Management Inc. now owns 9,922 shares of the restaurant operator’s stock worth $3,341,000 after buying an additional 4,576 shares in the last quarter. WCM Investment Management LLC grew its position in Wingstop by 123.9% in the third quarter. WCM Investment Management LLC now owns 102,687 shares of the restaurant operator’s stock worth $25,861,000 after buying an additional 56,833 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Wingstop by 109.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 279,909 shares of the restaurant operator’s stock valued at $93,895,000 after buying an additional 146,255 shares during the period. Finally, Champlain Investment Partners LLC lifted its stake in Wingstop by 17.3% in the 2nd quarter. Champlain Investment Partners LLC now owns 741,097 shares of the restaurant operator’s stock worth $249,557,000 after acquiring an additional 109,108 shares in the last quarter.

Wingstop Company Profile

Wingstop Inc (NASDAQ: WING) is a fast-casual restaurant chain specializing in chicken wings and related menu items. Founded in 1994 in Garland, Texas, the company has built its brand around bold, chef-inspired wing flavors and a streamlined service model that caters to dine-in, takeout, delivery and catering orders.

The company’s core offerings include both bone-in and boneless chicken wings tossed in a variety of proprietary rubs and sauces, such as Original Hot, Lemon Pepper, and Mango Habanero.