Wingstop Target of Unusually High Options Trading (WING)
Wingstop Inc (NASDAQ:WING) was the recipient of some unusual options trading on Wednesday. Stock investors bought 1,226 put options on the company. This is an increase of approximately 1,535% compared to the average daily volume of 75 put options.
Wingstop (WING) opened at $44.40 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of -2.37. Wingstop has a 1-year low of $24.74 and a 1-year high of $45.70. The company has a market capitalization of $1,280.00 and a P/E ratio of 61.67.
Wingstop (NASDAQ:WING) last released its earnings results on Thursday, November 2nd. The restaurant operator reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. Wingstop had a negative return on equity of 32.39% and a net margin of 20.70%. The company had revenue of $26.03 million for the quarter, compared to the consensus estimate of $25.13 million. During the same quarter last year, the business posted $0.13 EPS. Wingstop’s quarterly revenue was up 19.4% compared to the same quarter last year. sell-side analysts expect that Wingstop will post 0.73 earnings per share for the current year.
A number of research analysts recently commented on WING shares. Goldman Sachs Group reissued a “buy” rating and issued a $41.00 price target on shares of Wingstop in a report on Wednesday, November 29th. Cowen reissued a “buy” rating and issued a $41.00 price target on shares of Wingstop in a report on Friday, November 24th. Robert W. Baird reissued a “buy” rating and issued a $39.00 price target on shares of Wingstop in a report on Monday, October 9th. Stifel Nicolaus raised Wingstop from a “hold” rating to a “buy” rating and increased their price target for the company from $35.00 to $40.00 in a report on Friday, November 3rd. Finally, BidaskClub raised Wingstop from a “hold” rating to a “buy” rating in a report on Tuesday, December 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $40.75.
In related news, insider Flynn Dekker sold 16,350 shares of the stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $35.77, for a total value of $584,839.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael J. Hislop sold 5,000 shares of the stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $41.03, for a total value of $205,150.00. The disclosure for this sale can be found here. Corporate insiders own 1.76% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its holdings in Wingstop by 56.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,453,769 shares of the restaurant operator’s stock worth $44,921,000 after buying an additional 523,811 shares during the last quarter. Sei Investments Co. bought a new position in Wingstop during the 3rd quarter worth approximately $495,000. ETRADE Capital Management LLC bought a new position in Wingstop during the 3rd quarter worth approximately $360,000. BNP Paribas Arbitrage SA lifted its holdings in Wingstop by 68.0% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 15,084 shares of the restaurant operator’s stock worth $502,000 after buying an additional 6,105 shares during the last quarter. Finally, California State Teachers Retirement System lifted its holdings in Wingstop by 66.1% during the 2nd quarter. California State Teachers Retirement System now owns 51,502 shares of the restaurant operator’s stock worth $1,591,000 after buying an additional 20,500 shares during the last quarter.
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Wingstop Company Profile
Wingstop Inc is franchisor and operator of restaurants that specializes in cooked-to-order, hand-sauced and tossed chicken wings. The Company operates through two segments: Franchise and Company. As of December 31, 2016, the Company offers its guests 11 flavors on bone-in and boneless chicken wings paired with hand-cut, seasoned fries and sides.
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