Moore Capital Management LP Buys Shares of 10,000 Wingstop Inc. $WING

Moore Capital Management LP purchased a new position in Wingstop Inc. (NASDAQ:WING) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,000 shares of the restaurant operator’s stock, valued at approximately $1,734,000.

Other hedge funds also recently modified their holdings of the company. SBI Securities Co. Ltd. lifted its holdings in shares of Wingstop by 76.9% during the 4th quarter. SBI Securities Co. Ltd. now owns 138 shares of the restaurant operator’s stock valued at $33,000 after purchasing an additional 60 shares in the last quarter. Allworth Financial LP acquired a new position in shares of Wingstop in the second quarter valued at approximately $34,000. GW&K Investment Management LLC raised its holdings in shares of Wingstop by 75.7% during the fourth quarter. GW&K Investment Management LLC now owns 188 shares of the restaurant operator’s stock worth $45,000 after acquiring an additional 81 shares during the period. Harbor Investment Advisory LLC bought a new stake in Wingstop in the 2nd quarter valued at $46,000. Finally, Geneos Wealth Management Inc. increased its holdings in Wingstop by 121.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator’s stock worth $49,000 after purchasing an additional 119 shares in the last quarter.

Wingstop Stock Performance

Shares of NASDAQ:WING opened at $109.48 on Tuesday. Wingstop Inc. has a 52-week low of $105.43 and a 52-week high of $338.80. The company has a 50-day simple moving average of $137.11 and a 200 day simple moving average of $164.64. The company has a market capitalization of $2.98 billion, a P/E ratio of 26.00, a price-to-earnings-growth ratio of 1.35 and a beta of 1.81.

Wingstop (NASDAQ:WING) last released its quarterly earnings results on Wednesday, July 29th. The restaurant operator reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.16. The firm had revenue of $185.56 million for the quarter, compared to analysts’ expectations of $190.25 million. Wingstop had a net margin of 16.15% and a negative return on equity of 16.31%. The business’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.00 EPS. As a group, equities analysts forecast that Wingstop Inc. will post 4.5 earnings per share for the current year.

Wingstop Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, September 5th. Shareholders of record on Saturday, August 15th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.32 annualized dividend and a yield of 1.2%. This is a boost from Wingstop’s previous quarterly dividend of $0.30. Wingstop’s payout ratio is presently 31.35%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on WING shares. Wall Street Zen upgraded Wingstop from a “sell” rating to a “hold” rating in a report on Tuesday, July 14th. UBS Group reaffirmed a “neutral” rating on shares of Wingstop in a research report on Tuesday, July 14th. Stephens reaffirmed an “overweight” rating and set a $200.00 price target on shares of Wingstop in a research note on Thursday, July 30th. Robert W. Baird upgraded shares of Wingstop to a “strong-buy” rating in a report on Monday, August 24th. Finally, Sanford C. Bernstein lowered shares of Wingstop from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $220.00 to $155.00 in a research report on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Wingstop currently has an average rating of “Moderate Buy” and a consensus price target of $241.81.

About Wingstop

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.