Wingstop Inc. (NASDAQ:WING) Stock Holdings Lowered by Tritonpoint Wealth LLC

Tritonpoint Wealth LLC lessened its position in Wingstop Inc. (NASDAQ:WING) by 8.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,059 shares of the restaurant operator’s stock after selling 386 shares during the period. Tritonpoint Wealth LLC’s holdings in Wingstop were worth $1,154,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of WING. State Street Corp grew its stake in shares of Wingstop by 1.5% in the third quarter. State Street Corp now owns 861,783 shares of the restaurant operator’s stock worth $358,571,000 after purchasing an additional 12,549 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Wingstop by 0.9% in the third quarter. Franklin Resources Inc. now owns 816,991 shares of the restaurant operator’s stock worth $326,020,000 after purchasing an additional 7,204 shares during the period. Massachusetts Financial Services Co. MA grew its position in Wingstop by 7.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 647,677 shares of the restaurant operator’s stock valued at $269,485,000 after buying an additional 46,772 shares in the last quarter. Eagle Asset Management Inc. increased its stake in Wingstop by 40.8% during the 3rd quarter. Eagle Asset Management Inc. now owns 465,368 shares of the restaurant operator’s stock valued at $193,630,000 after buying an additional 134,802 shares during the period. Finally, Two Sigma Advisers LP raised its position in shares of Wingstop by 20.5% during the 3rd quarter. Two Sigma Advisers LP now owns 418,418 shares of the restaurant operator’s stock worth $174,095,000 after buying an additional 71,300 shares in the last quarter.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Raymond James reiterated an “outperform” rating and issued a $330.00 price objective (down from $375.00) on shares of Wingstop in a report on Tuesday, January 28th. Morgan Stanley raised Wingstop from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $385.00 to $389.00 in a research note on Tuesday, January 21st. Northcoast Research raised Wingstop from a “neutral” rating to a “buy” rating and set a $350.00 price objective on the stock in a research note on Friday, November 1st. TD Cowen decreased their target price on Wingstop from $450.00 to $365.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Finally, Barclays dropped their price target on shares of Wingstop from $470.00 to $380.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $383.32.

Wingstop Stock Down 2.6 %

WING opened at $297.90 on Friday. The firm has a market capitalization of $8.70 billion, a P/E ratio of 86.85, a PEG ratio of 2.71 and a beta of 1.81. The stock has a fifty day moving average of $299.49 and a 200-day moving average of $348.11. Wingstop Inc. has a 12-month low of $266.45 and a 12-month high of $433.86.

Wingstop (NASDAQ:WING) last posted its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.09). Wingstop had a net margin of 17.05% and a negative return on equity of 22.69%. The business had revenue of $162.50 million for the quarter, compared to analyst estimates of $160.24 million. During the same period in the previous year, the firm posted $0.69 earnings per share. The firm’s quarterly revenue was up 38.8% on a year-over-year basis. On average, analysts expect that Wingstop Inc. will post 3.66 earnings per share for the current fiscal year.

Wingstop announced that its Board of Directors has approved a stock buyback plan on Thursday, December 5th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the restaurant operator to buy up to 5.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other Wingstop news, SVP Raj Kapoor sold 266 shares of Wingstop stock in a transaction 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 sale, the senior vice president now owns 266 shares of the company’s stock, valued at $86,285.08. This trade represents a 50.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.36% of the stock is owned by corporate insiders.

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.