OFI Invest Asset Management Makes New $16.53 Million Investment in Wingstop Inc. (NASDAQ:WING)

OFI Invest Asset Management acquired a new position in shares of Wingstop Inc. (NASDAQ:WING) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 60,219 shares of the restaurant operator’s stock, valued at approximately $16,528,000. OFI Invest Asset Management owned 0.21% of Wingstop at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Proficio Capital Partners LLC acquired a new stake in Wingstop during the fourth quarter valued at $10,177,000. SG Americas Securities LLC grew its position in shares of Wingstop by 277.5% during the 4th quarter. SG Americas Securities LLC now owns 4,771 shares of the restaurant operator’s stock valued at $1,356,000 after acquiring an additional 3,507 shares during the period. Y Intercept Hong Kong Ltd increased its stake in shares of Wingstop by 779.1% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 18,461 shares of the restaurant operator’s stock valued at $5,247,000 after purchasing an additional 16,361 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in Wingstop by 475.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 69,234 shares of the restaurant operator’s stock worth $19,676,000 after purchasing an additional 57,193 shares during the period. Finally, Conway Capital Management Inc. purchased a new position in Wingstop during the third quarter worth approximately $3,544,000.

Insider Activity

In other news, SVP Raj Kapoor sold 266 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $324.38, for a total value of $86,285.08. Following the sale, the senior vice president now directly owns 266 shares of the company’s stock, valued at approximately $86,285.08. The trade was a 50.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.36% of the company’s stock.

Wall Street Analyst Weigh In

WING has been the subject of a number of recent analyst reports. Guggenheim upgraded Wingstop from a “neutral” rating to a “buy” rating and set a $280.00 price objective for the company in a research report on Monday, February 24th. Wedbush reduced their price objective on shares of Wingstop from $390.00 to $355.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. UBS Group dropped their target price on shares of Wingstop from $330.00 to $300.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. Barclays reduced their price target on shares of Wingstop from $359.00 to $315.00 and set an “overweight” rating for the company in a research report on Thursday, February 20th. Finally, Benchmark lowered their price objective on Wingstop from $340.00 to $325.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Wingstop currently has a consensus rating of “Moderate Buy” and an average target price of $357.67.

Wingstop Price Performance

Shares of NASDAQ WING opened at $227.12 on Friday. The company has a market capitalization of $6.51 billion, a P/E ratio of 61.22, a P/E/G ratio of 2.27 and a beta of 1.88. The company has a 50 day simple moving average of $276.65 and a 200-day simple moving average of $330.04. Wingstop Inc. has a 1 year low of $209.61 and a 1 year high of $433.86.

Wingstop declared that its board has approved a share repurchase program on Thursday, December 5th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the restaurant operator to purchase up to 5.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Wingstop Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.27 per share. The ex-dividend date is Friday, March 7th. This represents a $1.08 annualized dividend and a yield of 0.48%. Wingstop’s dividend payout ratio (DPR) is 29.11%.

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.