Certuity LLC Reduces Stock Position in Wingstop Inc. (NASDAQ:WING)

Certuity LLC lowered its stake in Wingstop Inc. (NASDAQ:WING) by 8.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 934 shares of the restaurant operator’s stock after selling 89 shares during the quarter. Certuity LLC’s holdings in Wingstop were worth $266,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. True Wealth Design LLC bought a new position in Wingstop in the third quarter worth approximately $36,000. Hollencrest Capital Management raised its position in Wingstop by 53.8% in the third quarter. Hollencrest Capital Management now owns 100 shares of the restaurant operator’s stock worth $42,000 after acquiring an additional 35 shares during the period. V Square Quantitative Management LLC raised its position in Wingstop by 60.6% in the third quarter. V Square Quantitative Management LLC now owns 106 shares of the restaurant operator’s stock worth $44,000 after acquiring an additional 40 shares during the period. Blue Trust Inc. raised its position in Wingstop by 384.6% in the third quarter. Blue Trust Inc. now owns 126 shares of the restaurant operator’s stock worth $53,000 after acquiring an additional 100 shares during the period. Finally, R Squared Ltd bought a new position in Wingstop in the fourth quarter worth approximately $71,000.

Insiders Place Their Bets

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 value of $86,285.08. Following the completion of the transaction, the senior vice president now directly 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 link. Corporate insiders own 0.36% of the company’s stock.

Wingstop Stock Up 2.5 %

Shares of NASDAQ:WING opened at $311.93 on Friday. Wingstop Inc. has a 52 week low of $266.45 and a 52 week high of $433.86. The stock has a market capitalization of $9.11 billion, a P/E ratio of 90.94, a PEG ratio of 2.76 and a beta of 1.81. The firm has a fifty day simple moving average of $294.68 and a two-hundred day simple moving average of $344.23.

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Barclays decreased their price objective 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. Stephens restated an “overweight” rating and set a $468.00 price objective on shares of Wingstop in a research report on Thursday, January 2nd. Benchmark upgraded shares of Wingstop from a “hold” rating to a “buy” rating and set a $340.00 price objective on the stock in a research report on Thursday, October 31st. The Goldman Sachs Group upgraded shares of Wingstop from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $458.00 to $377.00 in a research report on Friday, November 8th. Finally, TD Cowen decreased their price objective on shares of Wingstop from $450.00 to $365.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $383.32.

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.