Menta Capital LLC Purchases New Stake in Wingstop Inc. (WING)
Menta Capital LLC purchased a new position in shares of Wingstop Inc. (NASDAQ:WING) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 25,000 shares of the restaurant operator’s stock, valued at approximately $773,000. Menta Capital LLC owned approximately 0.09% of Wingstop at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in WING. BlackRock Inc. grew its position in shares of Wingstop by 200,013.0% during the first quarter. BlackRock Inc. now owns 3,473,961 shares of the restaurant operator’s stock worth $98,242,000 after buying an additional 3,472,225 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Wingstop by 15.6% during the first quarter. Wellington Management Group LLP now owns 3,955,238 shares of the restaurant operator’s stock worth $111,855,000 after buying an additional 533,086 shares in the last quarter. Marshall Wace North America L.P. acquired a new stake in shares of Wingstop during the second quarter worth approximately $11,947,000. Pier Capital LLC acquired a new stake in shares of Wingstop during the second quarter worth approximately $7,703,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Wingstop during the second quarter worth approximately $7,387,000.
In other news, Chairman Charles R. Morrison sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $34.71, for a total transaction of $867,750.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Stacy Peterson sold 11,557 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $34.60, for a total value of $399,872.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,083 shares of company stock worth $1,622,033. 1.76% of the stock is currently owned by company insiders.
A number of analysts have recently weighed in on WING shares. Cowen and Company reissued a “buy” rating on shares of Wingstop in a research report on Thursday, August 24th. BidaskClub raised shares of Wingstop from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Wedbush reissued a “buy” rating on shares of Wingstop in a research report on Friday, August 4th. Barclays PLC reissued an “equal weight” rating and set a $34.00 price target (up previously from $32.00) on shares of Wingstop in a research report on Friday, August 4th. Finally, Zacks Investment Research raised shares of Wingstop from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $34.25.
Wingstop Inc. (NASDAQ:WING) opened at 33.54 on Thursday. Wingstop Inc. has a 12-month low of $24.74 and a 12-month high of $34.94. The firm has a 50-day moving average of $33.60 and a 200-day moving average of $33.60. The firm has a market cap of $975.07 million, a P/E ratio of 52.32 and a beta of 0.58.
Wingstop (NASDAQ:WING) last released its quarterly earnings data on Thursday, August 3rd. The restaurant operator reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.03. The business had revenue of $24.70 million for the quarter, compared to analysts’ expectations 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 in the previous year, the business posted $0.15 earnings per share. On average, analysts expect that Wingstop Inc. will post $0.73 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 18th. Stockholders of record on Sunday, September 3rd were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date was Wednesday, August 30th. Wingstop’s dividend payout ratio is presently 10.94%.
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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