Oak Ridge Investments LLC Sells 284 Shares of Wingstop Inc. (NASDAQ:WING)

Oak Ridge Investments LLC lessened its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 3.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,360 shares of the restaurant operator’s stock after selling 284 shares during the period. Oak Ridge Investments LLC’s holdings in Wingstop were worth $3,062,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. S.A. Mason LLC acquired a new stake in shares of Wingstop during the third quarter worth $125,000. WD Rutherford LLC acquired a new stake in shares of Wingstop in the 3rd quarter valued at about $240,000. Pallas Capital Advisors LLC lifted its holdings in shares of Wingstop by 33.4% in the third quarter. Pallas Capital Advisors LLC now owns 1,679 shares of the restaurant operator’s stock valued at $699,000 after purchasing an additional 420 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of Wingstop by 7.2% during the third quarter. State of Alaska Department of Revenue now owns 3,419 shares of the restaurant operator’s stock worth $1,422,000 after buying an additional 230 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Wingstop by 121.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,070 shares of the restaurant operator’s stock worth $2,110,000 after buying an additional 2,776 shares in the last quarter.

Insider Activity

In related news, SVP Donnie Upshaw sold 3,199 shares of Wingstop stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $372.71, for a total value of $1,192,299.29. Following the transaction, the senior vice president now directly owns 97 shares of the company’s stock, valued at $36,152.87. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.36% of the company’s stock.

Wingstop Price Performance

Shares of NASDAQ:WING opened at $287.69 on Friday. The business’s 50 day simple moving average is $392.16 and its 200 day simple moving average is $388.27. Wingstop Inc. has a 1 year low of $177.88 and a 1 year high of $433.86. The company has a market capitalization of $8.43 billion, a P/E ratio of 83.87, a P/E/G ratio of 2.74 and a beta of 1.71.

Wingstop (NASDAQ:WING) last released its earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.09). The company had revenue of $162.50 million for the quarter, compared to analyst estimates of $160.24 million. Wingstop had a negative return on equity of 22.69% and a net margin of 17.05%. The business’s revenue for the quarter was up 38.8% compared to the same quarter last year. During the same period last year, the company posted $0.69 earnings per share. On average, sell-side analysts anticipate that Wingstop Inc. will post 3.81 EPS for the current fiscal year.

Wingstop Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.38%. The ex-dividend date is Friday, November 15th. Wingstop’s dividend payout ratio is currently 31.49%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on WING shares. Truist Financial boosted their target price on Wingstop from $407.00 to $423.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Citigroup increased their target price on shares of Wingstop from $417.00 to $440.00 and gave the stock a “neutral” rating in a report on Friday, October 4th. Piper Sandler lifted their price target on shares of Wingstop from $353.00 to $375.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Wedbush boosted their price target on shares of Wingstop from $425.00 to $440.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. Finally, BTIG Research upgraded Wingstop from a “neutral” rating to a “buy” rating and set a $370.00 price target for the company in a research note on Thursday. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $371.95.

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.