Olympiad Research LP Buys New Position in Wingstop Inc. (NASDAQ:WING)

Olympiad Research LP bought a new stake in Wingstop Inc. (NASDAQ:WING) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,399 shares of the restaurant operator’s stock, valued at approximately $398,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Ieq Capital LLC lifted its stake in Wingstop by 777.2% in the fourth quarter. Ieq Capital LLC now owns 17,789 shares of the restaurant operator’s stock valued at $5,056,000 after buying an additional 15,761 shares during the period. Alberta Investment Management Corp lifted its stake in Wingstop by 35.0% in the fourth quarter. Alberta Investment Management Corp now owns 13,836 shares of the restaurant operator’s stock valued at $3,932,000 after buying an additional 3,588 shares during the period. New York State Common Retirement Fund lifted its stake in Wingstop by 2.7% in the fourth quarter. New York State Common Retirement Fund now owns 81,393 shares of the restaurant operator’s stock valued at $23,132,000 after buying an additional 2,178 shares during the period. Kornitzer Capital Management Inc. KS lifted its stake in Wingstop by 36.6% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 21,551 shares of the restaurant operator’s stock valued at $6,125,000 after buying an additional 5,775 shares during the period. Finally, CIBC Asset Management Inc lifted its stake in Wingstop by 5.5% in the fourth quarter. CIBC Asset Management Inc now owns 897 shares of the restaurant operator’s stock valued at $255,000 after buying an additional 47 shares during the period.

Wingstop Price Performance

Shares of NASDAQ:WING opened at $234.02 on Friday. The company has a market capitalization of $6.71 billion, a PE ratio of 63.08, a price-to-earnings-growth ratio of 2.27 and a beta of 1.81. The business has a fifty day moving average price of $288.89 and a two-hundred day moving average price of $340.27. Wingstop Inc. has a 1 year low of $232.19 and a 1 year high of $433.86.

Wingstop Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.08 dividend on an annualized basis and a yield of 0.46%. Wingstop’s dividend payout ratio (DPR) is presently 29.11%.

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

Analyst Upgrades and Downgrades

WING has been the topic of several recent analyst reports. TD Cowen dropped their price target on Wingstop from $450.00 to $365.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. TD Securities dropped their price target on Wingstop from $365.00 to $305.00 and set a “buy” rating on the stock in a research note on Thursday. The Goldman Sachs Group raised Wingstop from a “neutral” rating to a “buy” rating and dropped their price target for the company from $458.00 to $377.00 in a research note on Friday, November 8th. Raymond James reaffirmed an “outperform” rating and set a $330.00 target price (down from $375.00) on shares of Wingstop in a research report on Tuesday, January 28th. Finally, Morgan Stanley lowered 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. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Wingstop has an average rating of “Moderate Buy” and an average price target of $367.05.

Insider Buying and Selling at Wingstop

In other Wingstop news, SVP Raj Kapoor sold 266 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $324.38, for a total value of $86,285.08. Following the completion of the transaction, the senior vice president now owns 266 shares in the company, valued at $86,285.08. This represents a 50.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.36% of the company’s stock.

About Wingstop

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.