Seven Eight Capital LP Cuts Stock Holdings in Wingstop Inc. (NASDAQ:WING)

Seven Eight Capital LP lessened its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 7.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,693 shares of the restaurant operator’s stock after selling 487 shares during the quarter. Seven Eight Capital LP’s holdings in Wingstop were worth $2,406,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WING. Vanguard Personalized Indexing Management LLC grew its position in Wingstop by 8.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 2,691 shares of the restaurant operator’s stock valued at $1,137,000 after acquiring an additional 215 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in Wingstop by 2.1% in the second quarter. Mercer Global Advisors Inc. ADV now owns 2,294 shares of the restaurant operator’s stock valued at $969,000 after buying an additional 47 shares during the last quarter. Edgestream Partners L.P. bought a new stake in Wingstop in the second quarter valued at $6,578,000. Renaissance Technologies LLC lifted its stake in Wingstop by 36.6% in the second quarter. Renaissance Technologies LLC now owns 602,990 shares of the restaurant operator’s stock valued at $254,860,000 after buying an additional 161,600 shares during the last quarter. Finally, Quantbot Technologies LP lifted its stake in Wingstop by 1,896.8% in the second quarter. Quantbot Technologies LP now owns 6,909 shares of the restaurant operator’s stock valued at $2,920,000 after buying an additional 6,563 shares during the last quarter.

Insider Buying and Selling

In other Wingstop news, SVP Donnie Upshaw sold 3,199 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $372.71, for a total transaction of $1,192,299.29. Following the transaction, the senior vice president now directly owns 97 shares in the company, valued at approximately $36,152.87. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.36% of the company’s stock.

Analyst Ratings Changes

WING has been the topic of a number of research analyst reports. Truist Financial raised their price target on Wingstop from $407.00 to $423.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Raymond James raised Wingstop from a “market perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a report on Thursday, August 1st. Wedbush raised their price target on Wingstop from $425.00 to $440.00 and gave the company an “outperform” rating in a report on Monday. TD Cowen reissued a “buy” rating and set a $450.00 price target on shares of Wingstop in a report on Wednesday, July 31st. Finally, Stephens reissued an “overweight” rating and set a $475.00 price target on shares of Wingstop in a report on Wednesday, August 14th. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $379.53.

Wingstop Trading Up 1.9 %

NASDAQ:WING opened at $416.66 on Wednesday. The stock has a market capitalization of $12.21 billion, a P/E ratio of 148.28, a price-to-earnings-growth ratio of 4.09 and a beta of 1.71. Wingstop Inc. has a 1 year low of $166.65 and a 1 year high of $431.03. The firm has a 50 day moving average of $379.23 and a 200-day moving average of $380.08.

Wingstop (NASDAQ:WING) last announced its earnings results on Wednesday, July 31st. The restaurant operator reported $0.93 EPS for the quarter, topping the consensus estimate of $0.82 by $0.11. Wingstop had a negative return on equity of 21.18% and a net margin of 17.33%. The company had revenue of $155.70 million for the quarter, compared to analysts’ expectations of $146.04 million. During the same quarter in the prior year, the business earned $0.57 earnings per share. The business’s revenue for the quarter was up 45.3% on a year-over-year basis. As a group, analysts forecast that Wingstop Inc. will post 3.77 EPS for the current fiscal year.

Wingstop Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.26%. This is an increase from Wingstop’s previous quarterly dividend of $0.22. Wingstop’s payout ratio is presently 38.43%.

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.