Neal K. Aronson Sells 6,765,858 Shares of Wingstop Inc. (WING) Stock
Wingstop Inc. (NASDAQ:WING) Director Neal K. Aronson sold 6,765,858 shares of the firm’s stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $26.28, for a total transaction of $177,806,748.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Wingstop Inc. (NASDAQ:WING) opened at 26.86 on Friday. Wingstop Inc. has a 12 month low of $20.31 and a 12 month high of $33.10. The company has a market cap of $772.14 million, a price-to-earnings ratio of 52.87 and a beta of 0.72. The company’s 50-day moving average is $28.11 and its 200 day moving average is $27.91.
Wingstop (NASDAQ:WING) last announced its quarterly earnings data on Tuesday, November 1st. The company reported $0.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.01. The firm earned $21.80 million during the quarter. Wingstop had a negative return on equity of 69.17% and a net margin of 17.11%. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.11 earnings per share. Equities analysts forecast that Wingstop Inc. will post $0.57 earnings per share for the current fiscal year.
WING has been the subject of several research reports. Wedbush restated an “outperform” rating and set a $36.00 price objective (up previously from $35.00) on shares of Wingstop in a research report on Monday, August 29th. Robert W. Baird raised their target price on shares of Wingstop from $33.00 to $35.00 and gave the stock an “outperform” rating in a report on Wednesday, September 7th. KeyCorp initiated coverage on shares of Wingstop in a report on Wednesday, September 7th. They issued an “overweight” rating and a $36.00 target price for the company. Zacks Investment Research cut shares of Wingstop from a “hold” rating to a “sell” rating in a report on Wednesday, July 20th. Finally, Goldman Sachs Group Inc. raised their target price on shares of Wingstop from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, August 12th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $32.27.
A number of hedge funds have recently made changes to their positions in WING. American International Group Inc. boosted its stake in shares of 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 in the last quarter. Cadence Capital Management LLC purchased a new stake in shares of Wingstop during the second quarter valued at $255,000. Parametric Portfolio Associates LLC purchased a new stake in shares of Wingstop during the second quarter valued at $298,000. Metropolitan Life Insurance Co. NY purchased a new stake in shares of Wingstop during the second quarter valued at $325,000. Finally, Rhumbline Advisers purchased a new stake in shares of Wingstop during the second quarter valued at $335,000. 59.40% of the stock is owned by hedge funds and other institutional investors.
Wingstop Company Profile
Wingstop Inc is a franchisor and operator of restaurants that specialize in cooked-to-order, hand-sauced and tossed chicken wings. The Company offers its guests with over 11 flavors on bone-in and boneless chicken wings paired with hand-cut, seasoned fries and sides. It is a casual chicken wings-focused restaurant chain with various concepts, which include wings as add-on menu items or focus on wings in a bar or sports-centric setting.
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