Moore Capital Management LP Acquires Shares of 10,000 Wingstop Inc. $WING

Moore Capital Management LP bought a new position in Wingstop Inc. (NASDAQ:WING) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 10,000 shares of the restaurant operator’s stock, valued at approximately $1,734,000.

A number of other large investors also recently modified their holdings of the stock. SBI Securities Co. Ltd. increased its holdings in shares of Wingstop by 76.9% in the fourth quarter. SBI Securities Co. Ltd. now owns 138 shares of the restaurant operator’s stock valued at $33,000 after purchasing an additional 60 shares in the last quarter. Allworth Financial LP bought a new position in Wingstop in the 2nd quarter valued at $34,000. GW&K Investment Management LLC boosted its position in Wingstop by 75.7% in the 4th quarter. GW&K Investment Management LLC now owns 188 shares of the restaurant operator’s stock valued at $45,000 after buying an additional 81 shares during the last quarter. Harbor Investment Advisory LLC acquired a new stake in shares of Wingstop in the 2nd quarter valued at $46,000. Finally, Geneos Wealth Management Inc. increased its stake in shares of Wingstop by 121.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator’s stock valued at $49,000 after buying an additional 119 shares during the period.

Wingstop Trading Down 3.6%

NASDAQ:WING opened at $109.48 on Tuesday. Wingstop Inc. has a 1-year low of $105.43 and a 1-year high of $338.80. The business’s 50-day moving average price is $137.11 and its two-hundred day moving average price is $164.64. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of 26.00, a PEG ratio of 1.35 and a beta of 1.81.

Wingstop (NASDAQ:WING) last posted its earnings results on Wednesday, July 29th. The restaurant operator reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.16. The company had revenue of $185.56 million during the quarter, compared to analyst estimates of $190.25 million. Wingstop had a negative return on equity of 16.31% and a net margin of 16.15%.The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.00 EPS. Sell-side analysts predict that Wingstop Inc. will post 4.5 earnings per share for the current year.

Wingstop Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, September 5th. Investors of record on Saturday, August 15th will be issued a dividend of $0.33 per share. This is an increase from Wingstop’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, August 14th. Wingstop’s dividend payout ratio is presently 31.35%.

Analyst Ratings Changes

Several brokerages have recently issued reports on WING. TD Cowen reaffirmed a “hold” rating on shares of Wingstop in a research note on Wednesday, July 29th. Weiss Ratings cut Wingstop from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, August 17th. Stephens restated an “overweight” rating and set a $200.00 target price on shares of Wingstop in a research report on Thursday, July 30th. Benchmark lowered their price target on shares of Wingstop from $285.00 to $245.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Finally, Bank of America lowered their price target on shares of Wingstop from $264.00 to $234.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Wingstop has an average rating of “Moderate Buy” and an average price target of $241.81.

Wingstop Company Profile

Wingstop Inc (NASDAQ: WING) is a fast-casual restaurant chain specializing in chicken wings and related menu items. Founded in 1994 in Garland, Texas, the company has built its brand around bold, chef-inspired wing flavors and a streamlined service model that caters to dine-in, takeout, delivery and catering orders.

The company’s core offerings include both bone-in and boneless chicken wings tossed in a variety of proprietary rubs and sauces, such as Original Hot, Lemon Pepper, and Mango Habanero.