David A. Vernon Sells 6,540 Shares of Wingstop Inc. (WING) Stock
Wingstop Inc. (NASDAQ:WING) insider David A. Vernon sold 6,540 shares of the stock in a transaction that occurred on Thursday, September 29th. The shares were sold at an average price of $28.70, for a total value of $187,698.00. Following the sale, the insider now owns 80,349 shares of the company’s stock, valued at approximately $2,306,016.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Wingstop Inc. (NASDAQ:WING) opened at 29.30 on Friday. The firm has a market capitalization of $841.73 million, a PE ratio of 55.81 and a beta of 0.61. The stock has a 50 day moving average price of $30.31 and a 200-day moving average price of $27.06. Wingstop Inc. has a one year low of $20.31 and a one year high of $33.10.
Wingstop (NASDAQ:WING) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.01. Wingstop had a net margin of 18.15% and a negative return on equity of 218.88%. The business had revenue of $22.70 million for the quarter, compared to analysts’ expectations of $22.05 million. During the same quarter last year, the firm earned $0.11 EPS. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. On average, equities analysts forecast that Wingstop Inc. will post $0.56 earnings per share for the current year.
Several brokerages recently weighed in on WING. KeyCorp began coverage on Wingstop in a research note on Wednesday, September 7th. They set an “overweight” rating and a $36.00 target price for the company. Robert W. Baird raised their price objective on Wingstop from $33.00 to $35.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 7th. Zacks Investment Research upgraded Wingstop from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Thursday, September 1st. Wedbush reiterated an “outperform” rating and issued a $36.00 price objective (up previously from $35.00) on shares of Wingstop in a research report on Monday, August 29th. Finally, Goldman Sachs Group Inc. raised their price objective on Wingstop from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, August 12th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $32.25.
A number of institutional investors have recently made changes to their positions in the stock. BlackRock Group LTD boosted its position in shares of Wingstop by 0.7% in the second quarter. BlackRock Group LTD now owns 133,416 shares of the company’s stock valued at $3,636,000 after buying an additional 946 shares during the last quarter. American International Group Inc. raised its stake in Wingstop by 132.5% in the second quarter. American International Group Inc. now owns 9,060 shares of the company’s stock valued at $247,000 after buying an additional 5,163 shares during the period. BlackRock Advisors LLC raised its stake in Wingstop by 1.6% in the second quarter. BlackRock Advisors LLC now owns 342,564 shares of the company’s stock valued at $9,335,000 after buying an additional 5,413 shares during the period. Cadence Capital Management LLC purchased a new stake in Wingstop during the second quarter valued at approximately $255,000. Finally, Barclays PLC raised its stake in Wingstop by 119.5% in the first quarter. Barclays PLC now owns 18,713 shares of the company’s stock valued at $412,000 after buying an additional 10,188 shares during the period. 58.92% of the stock is currently owned by institutional investors and hedge funds.
Wingstop Company Profile
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.
Receive News & Stock Ratings for Wingstop Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wingstop Inc. and related stocks with our FREE daily email newsletter.