Wingstop Inc (NASDAQ:WING) Sees Significant Decrease in Short Interest

Wingstop Inc (NASDAQ:WING) was the target of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 3,340,000 shares, a decrease of 7.2% from the September 30th total of 3,600,000 shares. Based on an average trading volume of 464,700 shares, the short-interest ratio is currently 7.2 days. Currently, 11.4% of the shares of the company are sold short.

Several equities analysts have recently commented on the stock. Stifel Nicolaus upped their price target on shares of Wingstop from $92.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Oppenheimer assumed coverage on shares of Wingstop in a research report on Thursday, September 19th. They set a “market perform” rating for the company. Morgan Stanley upped their price target on shares of Wingstop from $86.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Wells Fargo & Co upped their price target on shares of Wingstop from $103.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, Zacks Investment Research upgraded shares of Wingstop from a “hold” rating to a “buy” rating and set a $98.00 price target for the company in a research report on Saturday, October 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $100.00.

WING stock opened at $75.61 on Monday. The company has a market capitalization of $2.22 billion, a P/E ratio of 90.01, a PEG ratio of 5.80 and a beta of 0.79. The company has a 50-day simple moving average of $84.84 and a 200 day simple moving average of $89.30. Wingstop has a fifty-two week low of $56.95 and a fifty-two week high of $107.43.

Wingstop (NASDAQ:WING) last posted its quarterly earnings data on Wednesday, October 30th. The restaurant operator reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.03. The business had revenue of $49.88 million during the quarter, compared to the consensus estimate of $49.26 million. Wingstop had a net margin of 10.61% and a negative return on equity of 9.95%. The company’s quarterly revenue was up 30.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.21 earnings per share. On average, sell-side analysts expect that Wingstop will post 0.77 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend is Tuesday, November 26th. Wingstop’s payout ratio is currently 52.38%.

In other news, insider Michael Skipworth sold 2,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $82.42, for a total transaction of $164,840.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Charles R. Morrison sold 20,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $75.80, for a total transaction of $1,516,000.00. Following the transaction, the chief executive officer now owns 88,645 shares of the company’s stock, valued at approximately $6,719,291. The disclosure for this sale can be found here. Insiders have sold 23,100 shares of company stock valued at $1,792,006 in the last 90 days. Insiders own 1.00% of the company’s stock.

A number of hedge funds have recently bought and sold shares of WING. Invesco Ltd. lifted its holdings in Wingstop by 375.0% in the second quarter. Invesco Ltd. now owns 1,165,972 shares of the restaurant operator’s stock worth $110,476,000 after purchasing an additional 920,513 shares during the period. Nuveen Asset Management LLC lifted its holdings in Wingstop by 1,486.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 285,846 shares of the restaurant operator’s stock valued at $27,083,000 after acquiring an additional 267,833 shares during the last quarter. Morgan Stanley lifted its holdings in Wingstop by 98.4% in the 2nd quarter. Morgan Stanley now owns 473,994 shares of the restaurant operator’s stock valued at $44,911,000 after acquiring an additional 235,091 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Wingstop by 6.4% in the 2nd quarter. Vanguard Group Inc. now owns 3,389,552 shares of the restaurant operator’s stock valued at $321,159,000 after acquiring an additional 204,867 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Wingstop by 10.6% in the 2nd quarter. Renaissance Technologies LLC now owns 1,179,100 shares of the restaurant operator’s stock valued at $111,720,000 after acquiring an additional 113,200 shares during the last quarter.

About Wingstop

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand name. Its restaurants offer cooked-to-order, hand-sauced, and tossed chicken wings. As of December 29, 2018, the company operated approximately 1,252 restaurants in the United States, Mexico, Panama, Singapore, Indonesia, the United Arab Emirates, the United Kingdom, Malaysia, Saudi Arabia, and Colombia.

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