Brevan Howard Capital Management LP Sells 5,248 Shares of Wingstop Inc. (NASDAQ:WING)

Brevan Howard Capital Management LP lowered its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 74.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,801 shares of the restaurant operator’s stock after selling 5,248 shares during the quarter. Brevan Howard Capital Management LP’s holdings in Wingstop were worth $512,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its position in shares of Wingstop by 521.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 87 shares of the restaurant operator’s stock valued at $25,000 after acquiring an additional 73 shares during the period. CBIZ Investment Advisory Services LLC increased its holdings in Wingstop by 62.5% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 91 shares of the restaurant operator’s stock worth $26,000 after acquiring an additional 35 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Wingstop during the fourth quarter valued at approximately $30,000. V Square Quantitative Management LLC increased its stake in shares of Wingstop by 34.9% in the fourth quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator’s stock worth $41,000 after purchasing an additional 37 shares in the last quarter. Finally, Quarry LP purchased a new stake in Wingstop in the 4th quarter worth $41,000.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Raymond James reaffirmed an “outperform” rating and issued a $330.00 price objective (down previously from $375.00) on shares of Wingstop in a research note on Tuesday, January 28th. Barclays lowered their target price on shares of Wingstop from $315.00 to $260.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Truist Financial lifted their price target on shares of Wingstop from $242.00 to $274.00 and gave the company a “hold” rating in a report on Thursday, May 1st. Morgan Stanley decreased their target price on Wingstop from $389.00 to $375.00 and set an “overweight” rating on the stock in a research report on Thursday, February 20th. Finally, Benchmark lowered their price objective on shares of Wingstop from $340.00 to $325.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $322.09.

Wingstop Stock Performance

WING stock opened at $267.34 on Friday. The firm has a 50-day simple moving average of $230.75 and a two-hundred day simple moving average of $277.09. Wingstop Inc. has a one year low of $204.00 and a one year high of $433.86. The firm has a market cap of $7.46 billion, a price-to-earnings ratio of 72.06, a PEG ratio of 2.27 and a beta of 1.80.

Wingstop (NASDAQ:WING) last announced its earnings results on Wednesday, April 30th. The restaurant operator reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.15. The company had revenue of $171.09 million during the quarter, compared to the consensus estimate of $172.25 million. Wingstop had a net margin of 17.37% and a negative return on equity of 21.59%. Wingstop’s revenue was up 17.4% compared to the same quarter last year. During the same period last year, the firm earned $0.98 earnings per share. As a group, equities analysts predict that Wingstop Inc. will post 4.18 earnings per share for the current fiscal year.

Wingstop Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.40%. The ex-dividend date is Friday, May 16th. Wingstop’s dividend payout ratio is currently 18.09%.

Insider Buying and Selling at Wingstop

In other news, SVP Raj Kapoor sold 637 shares of Wingstop stock in a transaction on Monday, May 5th. The shares were sold at an average price of $273.07, for a total transaction of $173,945.59. Following the completion of the sale, the senior vice president now directly owns 517 shares in the company, valued at approximately $141,177.19. The trade was a 55.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.72% of the stock is currently owned by company insiders.

Wingstop Company Profile

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand. Its restaurants offer classic wings, boneless wings, tenders, and hand-sauced-and-tossed in various flavors, as well as chicken sandwiches with fries and hand-cut carrots and celery that are cooked-to-order.