Focus Partners Advisor Solutions LLC Purchases 705 Shares of Wingstop Inc. $WING

Focus Partners Advisor Solutions LLC boosted its position in shares of Wingstop Inc. (NASDAQ:WING) by 47.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,203 shares of the restaurant operator’s stock after buying an additional 705 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in Wingstop were worth $742,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Amundi raised its holdings in Wingstop by 289.2% during the 1st quarter. Amundi now owns 18,595 shares of the restaurant operator’s stock worth $4,514,000 after purchasing an additional 13,817 shares during the last quarter. Stephens Investment Management Group LLC grew its position in shares of Wingstop by 66.3% during the 1st quarter. Stephens Investment Management Group LLC now owns 446,601 shares of the restaurant operator’s stock worth $100,744,000 after buying an additional 178,041 shares during the period. Principal Financial Group Inc. grew its position in shares of Wingstop by 16.7% during the 1st quarter. Principal Financial Group Inc. now owns 79,225 shares of the restaurant operator’s stock worth $17,872,000 after buying an additional 11,329 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of Wingstop by 501.1% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,112 shares of the restaurant operator’s stock worth $251,000 after buying an additional 927 shares during the period. Finally, Carnegie Investment Counsel grew its position in shares of Wingstop by 32.3% during the 1st quarter. Carnegie Investment Counsel now owns 47,200 shares of the restaurant operator’s stock worth $10,431,000 after buying an additional 11,525 shares during the period.

Insider Activity

In other Wingstop news, SVP Marisa Carona sold 11,938 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $370.34, for a total transaction of $4,421,118.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Alex Kaleida sold 5,400 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $376.09, for a total value of $2,030,886.00. Following the transaction, the chief financial officer directly owned 8,362 shares of the company’s stock, valued at approximately $3,144,864.58. This trade represents a 39.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 21,838 shares of company stock worth $8,118,535 over the last quarter. 0.72% of the stock is currently owned by company insiders.

Wingstop Stock Down 3.0%

Wingstop stock opened at $247.35 on Wednesday. The stock has a market capitalization of $6.91 billion, a PE ratio of 41.23, a price-to-earnings-growth ratio of 3.55 and a beta of 1.78. Wingstop Inc. has a twelve month low of $204.00 and a twelve month high of $388.14. The company has a 50 day moving average of $275.39 and a 200-day moving average of $300.54.

Wingstop (NASDAQ:WING) last released its quarterly earnings results on Wednesday, July 30th. The restaurant operator reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.12. The company had revenue of $174.33 million during the quarter, compared to analysts’ expectations of $172.60 million. Wingstop had a net margin of 25.61% and a negative return on equity of 17.07%. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.93 earnings per share. Equities analysts anticipate that Wingstop Inc. will post 4.18 EPS for the current fiscal year.

Analyst Ratings Changes

WING has been the subject of several analyst reports. Westpark Capital upgraded Wingstop to a “strong-buy” rating in a research report on Wednesday, July 9th. Truist Financial set a $400.00 target price on Wingstop in a research report on Tuesday, October 14th. William Blair initiated coverage on Wingstop in a research report on Wednesday, July 9th. They set an “outperform” rating for the company. Piper Sandler initiated coverage on Wingstop in a research report on Wednesday, July 9th. They set an “overweight” rating for the company. Finally, The Goldman Sachs Group decreased their target price on Wingstop from $430.00 to $370.00 and set a “buy” rating for the company in a research report on Tuesday, September 30th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Wingstop has a consensus rating of “Moderate Buy” and a consensus target price of $357.59.

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.