Wingstop Inc. (WING) Sees Unusually-High Trading Volume
Wingstop Inc. (NASDAQ:WING) saw unusually-high trading volume on Monday . Approximately 334,207 shares changed hands during trading, an increase of 4% from the previous session’s volume of 321,013 shares.The stock last traded at $30.34 and had previously closed at $29.80.
WING has been the subject of a number of research analyst reports. Zacks Investment Research downgraded Wingstop from a “hold” rating to a “sell” rating in a research report on Wednesday, July 27th. Robert W. Baird initiated coverage on Wingstop in a research report on Sunday, May 8th. They set a “buy” rating for the company. Jefferies Group reissued a “buy” rating and issued a $30.00 target price on shares of Wingstop in a research report on Monday. Wedbush initiated coverage on Wingstop in a research report on Wednesday, July 6th. They issued an “outperform” rating and a $35.00 target price for the company. Finally, Wells Fargo & Co. reissued a “market perform” rating and issued a $26.00 target price (up from $24.00) on shares of Wingstop in a research report on Thursday, June 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $30.91.
The company has a market capitalization of $862.69 million and a P/E ratio of 56.86. The firm’s 50-day moving average is $26.84 and its 200 day moving average is $25.26.
Wingstop (NASDAQ:WING) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The company earned $22.70 million during the quarter, compared to the consensus estimate of $22.05 million. During the same period in the prior year, the firm earned $0.11 earnings per share. The business’s revenue for the quarter was up 18.2% compared to the same quarter last year. On average, equities analysts anticipate that Wingstop Inc. will post $0.54 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Tuesday, July 12th were given a $2.90 dividend. The ex-dividend date was Friday, July 8th. This represents a $11.60 annualized dividend and a yield of 38.56%.
In related news, insider Michael Skipworth sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 22nd. The stock was sold at an average price of $27.42, for a total value of $137,100.00. Following the transaction, the insider now directly owns 5,000 shares of the company’s stock, valued at approximately $137,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David A. Vernon sold 17,206 shares of the company’s stock in a transaction that occurred on Monday, June 20th. The shares were sold at an average price of $27.57, for a total value of $474,369.42. Following the completion of the transaction, the insider now directly owns 78,169 shares in the company, valued at $2,155,119.33. The disclosure for this sale can be found here.
A number of institutional investors have added to or reduced their stakes in the stock. Nationwide Fund Advisors boosted its position in Wingstop by 31.6% in the fourth quarter. Nationwide Fund Advisors now owns 46,687 shares of the company’s stock valued at $1,065,000 after buying an additional 11,212 shares during the period. Morgan Stanley boosted its position in Wingstop by 27.9% in the fourth quarter. Morgan Stanley now owns 448,853 shares of the company’s stock valued at $10,238,000 after buying an additional 98,044 shares during the period. Wells Fargo & Company MN boosted its position in Wingstop by 25.3% in the fourth quarter. Wells Fargo & Company MN now owns 437,661 shares of the company’s stock valued at $9,984,000 after buying an additional 88,254 shares during the period. Finally, RS Investment Management Co. LLC boosted its position in Wingstop by 32.5% in the fourth quarter. RS Investment Management Co. LLC now owns 1,202,240 shares of the company’s stock valued at $27,423,000 after buying an additional 295,230 shares during the period.
Wingstop Inc (Wingstop) is a franchisor and operator of restaurants that specializes in hand-sauced and tossed chicken wings. The Company offers around 11 flavors on its bone-in and boneless chicken wings paired with hand-cut, seasoned fries and sides made fresh daily. The Company operates business through two segments, which include Franchise segment and Company segment.
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