Los Angeles Capital Management & Equity Research Inc. Has $2.50 Million Position in Wingstop Inc (WING)
Los Angeles Capital Management & Equity Research Inc. cut its holdings in Wingstop Inc (NASDAQ:WING) by 66.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 36,627 shares of the restaurant operator’s stock after selling 73,823 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Wingstop were worth $2,501,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Millennium Management LLC acquired a new position in shares of Wingstop in the 1st quarter worth approximately $4,037,000. Principal Financial Group Inc. grew its position in shares of Wingstop by 3.4% in the 1st quarter. Principal Financial Group Inc. now owns 240,242 shares of the restaurant operator’s stock worth $11,347,000 after acquiring an additional 7,951 shares in the last quarter. Bank of Montreal Can grew its position in shares of Wingstop by 2,615.9% in the 2nd quarter. Bank of Montreal Can now owns 21,320 shares of the restaurant operator’s stock worth $1,111,000 after acquiring an additional 20,535 shares in the last quarter. Amalgamated Bank acquired a new position in shares of Wingstop in the 2nd quarter worth approximately $245,000. Finally, Hartford Investment Management Co. acquired a new position in shares of Wingstop in the 2nd quarter worth approximately $228,000.
NASDAQ:WING opened at $65.48 on Monday. Wingstop Inc has a 12-month low of $37.50 and a 12-month high of $75.58. The company has a market cap of $1.92 billion, a P/E ratio of 88.49, a P/E/G ratio of 3.92 and a beta of 1.10.
The firm also recently announced a special dividend, which will be paid on Monday, December 3rd. Shareholders of record on Monday, November 26th will be paid a dividend of $3.05 per share. This represents a yield of 0.55%. The ex-dividend date of this dividend is Friday, November 23rd. Wingstop’s payout ratio is currently 48.65%.
Several brokerages have recently commented on WING. Stifel Nicolaus lifted their target price on Wingstop from $58.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, August 27th. Wedbush reiterated an “outperform” rating and issued a $70.00 target price (up previously from $59.00) on shares of Wingstop in a research report on Wednesday, August 22nd. They noted that the move was a valuation call. Gordon Haskett initiated coverage on Wingstop in a research report on Thursday, October 18th. They set a “buy” rating and a $81.00 price objective for the company. BidaskClub lowered Wingstop from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 1st. Finally, Robert W. Baird boosted their price objective on Wingstop from $53.00 to $65.00 and gave the company a “neutral” rating in a research report on Friday, October 12th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $64.13.
In other Wingstop news, Director Michael J. Hislop sold 5,900 shares of Wingstop stock in a transaction on Friday, September 7th. The stock was sold at an average price of $69.11, for a total transaction of $407,749.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Stacy Peterson sold 3,437 shares of Wingstop stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $66.05, for a total value of $227,013.85. Following the sale, the insider now directly owns 38,339 shares in the company, valued at approximately $2,532,290.95. The disclosure for this sale can be found here. 1.76% of the stock is owned by insiders.
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Wingstop Company Profile
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 February 22, 2018, the company operated approximately 1,000 restaurants the United States, Mexico, Singapore, the Philippines, Indonesia, the United Arab Emirates, Malaysia, Saudi Arabia, and Colombia.
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