Los Angeles Capital Management & Equity Research Inc. Decreases Holdings in Wingstop Inc (WING)

Los Angeles Capital Management & Equity Research Inc. trimmed its position in Wingstop Inc (NASDAQ:WING) by 10.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,487 shares of the restaurant operator’s stock after selling 3,290 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned about 0.09% of Wingstop worth $2,090,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Half Sky Capital UK Ltd acquired a new stake in Wingstop in the fourth quarter valued at approximately $26,192,000. Squarepoint Ops LLC lifted its position in Wingstop by 484.3% during the fourth quarter. Squarepoint Ops LLC now owns 298,533 shares of the restaurant operator’s stock worth $19,163,000 after buying an additional 247,441 shares in the last quarter. Millennium Management LLC lifted its position in Wingstop by 316.6% during the fourth quarter. Millennium Management LLC now owns 191,089 shares of the restaurant operator’s stock worth $12,266,000 after buying an additional 145,216 shares in the last quarter. Two Sigma Investments LP lifted its position in Wingstop by 257.9% during the fourth quarter. Two Sigma Investments LP now owns 167,119 shares of the restaurant operator’s stock worth $10,727,000 after buying an additional 120,424 shares in the last quarter. Finally, Penserra Capital Management LLC lifted its position in Wingstop by 98.2% during the fourth quarter. Penserra Capital Management LLC now owns 163,416 shares of the restaurant operator’s stock worth $10,489,000 after buying an additional 80,947 shares in the last quarter.

WING traded down $1.33 on Wednesday, hitting $78.05. 352,068 shares of the company were exchanged, compared to its average volume of 532,549. Wingstop Inc has a twelve month low of $47.83 and a twelve month high of $82.00. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 92.92, a PEG ratio of 5.54 and a beta of 0.85.

Wingstop (NASDAQ:WING) last released its earnings results on Tuesday, May 7th. The restaurant operator reported $0.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.02. The firm had revenue of $48.05 million during the quarter, compared to analysts’ expectations of $45.68 million. Wingstop had a negative return on equity of 13.31% and a net margin of 13.52%. Wingstop’s revenue for the quarter was up 28.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.25 EPS. As a group, equities research analysts anticipate that Wingstop Inc will post 0.74 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be given a dividend of $0.09 per share. The ex-dividend date is Thursday, June 6th. This represents a $0.36 annualized dividend and a dividend yield of 0.46%. Wingstop’s dividend payout ratio is currently 42.86%.

A number of brokerages recently commented on WING. Piper Jaffray Companies began coverage on Wingstop in a research report on Monday, May 13th. They set an “overweight” rating and a $88.00 price objective on the stock. Zacks Investment Research downgraded Wingstop from a “buy” rating to a “hold” rating in a research report on Saturday, March 2nd. BidaskClub downgraded Wingstop from a “buy” rating to a “hold” rating in a research report on Wednesday, February 20th. Wedbush reduced their target price on Wingstop from $74.00 to $69.00 and set an “outperform” rating on the stock in a research report on Thursday, February 28th. Finally, BMO Capital Markets started coverage on Wingstop in a research report on Tuesday, March 26th. They issued an “outperform” rating and a $71.76 target price on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $70.99.

In other news, insider Lawrence Kruguer sold 3,718 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $65.60, for a total transaction of $243,900.80. Following the completion of the transaction, the insider now directly owns 4,832 shares of the company’s stock, valued at approximately $316,979.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Charles R. Morrison sold 20,000 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $69.10, for a total value of $1,382,000.00. Following the completion of the sale, the chairman now directly owns 128,998 shares of the company’s stock, valued at $8,913,761.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,918 shares of company stock valued at $3,649,754. Insiders own 1.00% of the company’s stock.

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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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Institutional Ownership by Quarter for Wingstop (NASDAQ:WING)

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