Pier Capital LLC Invests $7.70 Million in Wingstop Inc. (WING)
Pier Capital LLC purchased a new stake in Wingstop Inc. (NASDAQ:WING) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 249,297 shares of the restaurant operator’s stock, valued at approximately $7,703,000. Wingstop makes up 1.3% of Pier Capital LLC’s holdings, making the stock its 2nd biggest holding. Pier Capital LLC owned 0.86% of Wingstop as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Fortaleza Asset Management Inc. purchased a new stake in shares of Wingstop in the second quarter valued at approximately $108,000. LS Investment Advisors LLC boosted its stake in shares of Wingstop by 291.0% in the first quarter. LS Investment Advisors LLC now owns 4,321 shares of the restaurant operator’s stock valued at $122,000 after buying an additional 3,216 shares in the last quarter. State of Alaska Department of Revenue boosted its position in Wingstop by 79.3% during the second quarter. State of Alaska Department of Revenue now owns 5,720 shares of the restaurant operator’s stock worth $176,000 after purchasing an additional 2,530 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in Wingstop by 16.2% during the first quarter. BNP Paribas Arbitrage SA now owns 5,767 shares of the restaurant operator’s stock worth $163,000 after purchasing an additional 804 shares in the last quarter. Finally, Mason Street Advisors LLC boosted its position in Wingstop by 7.4% during the first quarter. Mason Street Advisors LLC now owns 6,750 shares of the restaurant operator’s stock worth $191,000 after purchasing an additional 468 shares in the last quarter.
Shares of Wingstop Inc. (WING) traded up 3.09% during mid-day trading on Monday, hitting $33.41. The stock had a trading volume of 497,676 shares. The firm has a market cap of $971.30 million, a P/E ratio of 52.12 and a beta of 0.58. Wingstop Inc. has a 12-month low of $24.74 and a 12-month high of $35.91. The company has a 50 day moving average price of $32.42 and a 200 day moving average price of $29.77.
Wingstop (NASDAQ:WING) last released its quarterly earnings data on Thursday, August 3rd. The restaurant operator reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.03. The business had revenue of $24.70 million during the quarter, compared to analyst estimates of $24.61 million. Wingstop had a negative return on equity of 28.04% and a net margin of 19.28%. During the same period last year, the company posted $0.15 EPS. Equities analysts forecast that Wingstop Inc. will post $0.73 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 18th. Stockholders of record on Sunday, September 3rd will be given a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.28 annualized dividend and a dividend yield of 0.84%. Wingstop’s dividend payout ratio (DPR) is presently 10.94%.
In other news, insider Stacy Peterson sold 11,557 shares of the firm’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $34.60, for a total value of $399,872.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Charles R. Morrison sold 25,000 shares of the firm’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $34.71, for a total value of $867,750.00. The disclosure for this sale can be found here. Company insiders own 1.76% of the company’s stock.
WING has been the topic of a number of research analyst reports. BidaskClub upgraded Wingstop from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Cowen and Company reiterated an “outperform” rating and set a $37.00 target price on shares of Wingstop in a research report on Wednesday, August 9th. Wedbush reiterated a “buy” rating and set a $36.00 target price on shares of Wingstop in a research report on Thursday, July 6th. Jefferies Group LLC reiterated a “hold” rating and set a $28.00 target price on shares of Wingstop in a research report on Thursday, May 18th. Finally, Barclays PLC boosted their target price on Wingstop from $26.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Monday, May 15th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Wingstop presently has an average rating of “Buy” and a consensus target price of $34.50.
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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