Kornitzer Capital Management Inc. KS Sells 15,845 Shares of Wingstop Inc. (NASDAQ:WING)

Kornitzer Capital Management Inc. KS trimmed its position in Wingstop Inc. (NASDAQ:WING) by 26.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,391 shares of the restaurant operator’s stock after selling 15,845 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Wingstop were worth $11,133,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. bought a new position in Wingstop in the fourth quarter valued at approximately $28,000. Public Employees Retirement System of Ohio increased its stake in Wingstop by 39.9% in the third quarter. Public Employees Retirement System of Ohio now owns 277 shares of the restaurant operator’s stock valued at $35,000 after acquiring an additional 79 shares during the last quarter. Headlands Technologies LLC bought a new position in Wingstop in the third quarter valued at approximately $38,000. FSC Wealth Advisors LLC bought a new stake in shares of Wingstop during the fourth quarter worth $39,000. Finally, Coppell Advisory Solutions LLC bought a new stake in shares of Wingstop during the second quarter worth $48,000.

Wingstop Trading Down 2.5 %

WING stock traded down $9.03 during midday trading on Friday, hitting $347.37. The stock had a trading volume of 626,196 shares, compared to its average volume of 409,486. The firm has a market cap of $10.20 billion, a P/E ratio of 147.82, a price-to-earnings-growth ratio of 6.32 and a beta of 1.68. Wingstop Inc. has a 1-year low of $150.08 and a 1-year high of $379.00. The business has a fifty day moving average price of $348.57 and a two-hundred day moving average price of $274.32.

Wingstop (NASDAQ:WING) last released its earnings results on Wednesday, February 21st. The restaurant operator reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.07. The business had revenue of $127.06 million for the quarter, compared to analyst estimates of $120.47 million. Wingstop had a net margin of 15.25% and a negative return on equity of 17.66%. Wingstop’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.60 earnings per share. On average, equities analysts anticipate that Wingstop Inc. will post 3 EPS for the current year.

Wingstop Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.25%. The ex-dividend date was Thursday, March 7th. Wingstop’s dividend payout ratio (DPR) is currently 37.45%.

Analyst Upgrades and Downgrades

WING has been the topic of a number of research reports. Stephens initiated coverage on shares of Wingstop in a research note on Friday, April 12th. They set an “overweight” rating and a $425.00 target price on the stock. Morgan Stanley boosted their target price on shares of Wingstop from $280.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Friday, April 12th. Wedbush boosted their target price on shares of Wingstop from $330.00 to $340.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. Truist Financial reaffirmed a “hold” rating and set a $292.00 target price on shares of Wingstop in a research note on Monday, April 1st. Finally, Robert W. Baird boosted their target price on shares of Wingstop from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Wingstop presently has an average rating of “Hold” and a consensus price target of $290.83.

Insider Buying and Selling at Wingstop

In other Wingstop news, CEO Michael Skipworth sold 10,843 shares of Wingstop stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $337.40, for a total value of $3,658,428.20. Following the completion of the sale, the chief executive officer now directly owns 17,107 shares of the company’s stock, valued at $5,771,901.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Wingstop news, CEO Michael Skipworth sold 10,843 shares of Wingstop stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $337.40, for a total value of $3,658,428.20. Following the completion of the sale, the chief executive officer now directly owns 17,107 shares of the company’s stock, valued at $5,771,901.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Kilandigalu Madati sold 1,472 shares of Wingstop stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $339.87, for a total transaction of $500,288.64. Following the completion of the sale, the director now directly owns 5,450 shares of the company’s stock, valued at $1,852,291.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,901 shares of company stock valued at $5,120,605. Corporate insiders own 0.36% of the company’s stock.

Wingstop Company 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.