BTC Capital Management Inc. Has $411,000 Position in Wingstop Inc. (NASDAQ:WING)

BTC Capital Management Inc. cut its stake in Wingstop Inc. (NASDAQ:WING) by 9.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,445 shares of the restaurant operator’s stock after selling 147 shares during the period. BTC Capital Management Inc.’s holdings in Wingstop were worth $411,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WING. The Manufacturers Life Insurance Company raised its stake in Wingstop by 4.6% in the second quarter. The Manufacturers Life Insurance Company now owns 26,686 shares of the restaurant operator’s stock valued at $11,279,000 after purchasing an additional 1,175 shares in the last quarter. Creative Planning raised its position in shares of Wingstop by 44.1% in the 2nd quarter. Creative Planning now owns 1,463 shares of the restaurant operator’s stock valued at $618,000 after buying an additional 448 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of Wingstop by 23.0% during the 2nd quarter. Cetera Investment Advisers now owns 3,789 shares of the restaurant operator’s stock worth $1,601,000 after acquiring an additional 708 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of Wingstop during the 2nd quarter worth approximately $535,000. Finally, Handelsbanken Fonder AB increased its stake in Wingstop by 19.2% in the third quarter. Handelsbanken Fonder AB now owns 7,444 shares of the restaurant operator’s stock valued at $3,097,000 after acquiring an additional 1,200 shares during the last quarter.

Analyst Upgrades and Downgrades

WING has been the subject of several recent analyst reports. BTIG Research upgraded Wingstop from a “neutral” rating to a “buy” rating and set a $370.00 target price for the company in a research note on Thursday, October 31st. Stephens restated an “overweight” rating and set a $468.00 price objective on shares of Wingstop in a research report on Thursday, January 2nd. TD Cowen decreased their target price on Wingstop from $450.00 to $365.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Wedbush reissued an “outperform” rating and set a $390.00 target price on shares of Wingstop in a research note on Tuesday, November 5th. Finally, Citigroup raised their price target on shares of Wingstop from $417.00 to $440.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $383.32.

Wingstop Trading Down 2.6 %

Shares of WING opened at $297.90 on Friday. The stock’s 50-day moving average price is $299.49 and its two-hundred day moving average price is $348.38. Wingstop Inc. has a 12 month low of $266.45 and a 12 month high of $433.86. The company has a market capitalization of $8.70 billion, a PE ratio of 86.85, a PEG ratio of 2.71 and a beta of 1.81.

Wingstop (NASDAQ:WING) last posted its quarterly earnings data on Wednesday, October 30th. The restaurant operator reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.09). The company had revenue of $162.50 million during the quarter, compared to analyst estimates of $160.24 million. Wingstop had a negative return on equity of 22.69% and a net margin of 17.05%. Wingstop’s revenue was up 38.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 earnings per share. Equities research analysts predict that Wingstop Inc. will post 3.66 EPS for the current fiscal year.

Wingstop announced that its board has approved a stock repurchase program on Thursday, December 5th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the restaurant operator to reacquire up to 5.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Wingstop news, SVP Raj Kapoor sold 266 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $324.38, for a total transaction of $86,285.08. Following the completion of the sale, the senior vice president now directly owns 266 shares in the company, valued at approximately $86,285.08. This trade represents a 50.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.36% of the company’s stock.

Wingstop 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.