Wingstop Inc. (NASDAQ:WING) Shares Acquired by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC lifted its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 33.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 1,679 shares of the restaurant operator’s stock after buying an additional 420 shares during the period. Pallas Capital Advisors LLC’s holdings in Wingstop were worth $699,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. State of Michigan Retirement System raised its holdings in Wingstop by 2.8% during the first quarter. State of Michigan Retirement System now owns 7,272 shares of the restaurant operator’s stock worth $2,664,000 after purchasing an additional 200 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in Wingstop during the 1st quarter worth $370,000. Retirement Systems of Alabama lifted its position in Wingstop by 0.3% in the first quarter. Retirement Systems of Alabama now owns 36,938 shares of the restaurant operator’s stock valued at $13,534,000 after acquiring an additional 98 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Wingstop in the first quarter valued at $4,840,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of Wingstop by 1,308.1% during the first quarter. BNP Paribas Financial Markets now owns 24,951 shares of the restaurant operator’s stock worth $9,142,000 after purchasing an additional 23,179 shares during the last quarter.

Wingstop Trading Down 21.4 %

Shares of WING stock opened at $289.99 on Thursday. The stock has a 50 day simple moving average of $392.16 and a 200-day simple moving average of $388.27. The company has a market cap of $8.50 billion, a price-to-earnings ratio of 103.20, a price-to-earnings-growth ratio of 3.41 and a beta of 1.71. Wingstop Inc. has a 12-month low of $177.88 and a 12-month high of $433.86.

Wingstop (NASDAQ:WING) last released its quarterly earnings data on Wednesday, July 31st. The restaurant operator reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.11. The firm had revenue of $155.70 million during the quarter, compared to analysts’ expectations of $146.04 million. Wingstop had a negative return on equity of 21.18% and a net margin of 17.33%. Wingstop’s revenue was up 45.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.57 earnings per share. On average, equities analysts forecast that Wingstop Inc. will post 3.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

WING has been the subject of a number of research analyst reports. The Goldman Sachs Group upped their target price on Wingstop from $407.00 to $458.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. TD Cowen reissued a “buy” rating and issued a $450.00 price objective on shares of Wingstop in a report on Wednesday, July 31st. Citigroup raised their target price on shares of Wingstop from $417.00 to $440.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. Barclays upped their price target on shares of Wingstop from $418.00 to $425.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Wedbush raised their price objective on shares of Wingstop from $425.00 to $440.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Wingstop currently has a consensus rating of “Hold” and a consensus price target of $382.88.

Insider Activity

In related news, SVP Donnie Upshaw sold 3,199 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $372.71, for a total value of $1,192,299.29. Following the completion of the sale, the senior vice president now owns 97 shares in the company, valued at $36,152.87. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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.