ClearAlpha Technologies LP Grows Stock Position in Wingstop Inc. (NASDAQ:WING)

ClearAlpha Technologies LP grew its holdings in Wingstop Inc. (NASDAQ:WING) by 91.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,447 shares of the restaurant operator’s stock after buying an additional 692 shares during the period. ClearAlpha Technologies LP’s holdings in Wingstop were worth $602,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of WING. Millennium Management LLC boosted its stake in Wingstop by 284.1% in the 2nd quarter. Millennium Management LLC now owns 383,184 shares of the restaurant operator’s stock worth $161,957,000 after purchasing an additional 283,412 shares in the last quarter. FMR LLC raised its holdings in shares of Wingstop by 984.7% in the third quarter. FMR LLC now owns 217,946 shares of the restaurant operator’s stock worth $90,683,000 after buying an additional 197,853 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Wingstop by 36.6% during the second quarter. Renaissance Technologies LLC now owns 602,990 shares of the restaurant operator’s stock worth $254,860,000 after buying an additional 161,600 shares during the period. Eagle Asset Management Inc. grew its holdings in shares of Wingstop by 40.8% during the third quarter. Eagle Asset Management Inc. now owns 465,368 shares of the restaurant operator’s stock valued at $193,630,000 after buying an additional 134,802 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Wingstop by 66.6% in the 2nd quarter. AQR Capital Management LLC now owns 325,920 shares of the restaurant operator’s stock valued at $137,753,000 after acquiring an additional 130,248 shares during the period.

Wall Street Analyst Weigh In

WING has been the topic of several recent research reports. Benchmark raised shares of Wingstop from a “hold” rating to a “buy” rating and set a $340.00 price objective on the stock in a report on Thursday, October 31st. TD Cowen dropped their target price on Wingstop from $450.00 to $365.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Barclays decreased their price target on Wingstop from $470.00 to $380.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Piper Sandler reduced their price target on Wingstop from $375.00 to $300.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Finally, Citigroup raised their price objective on Wingstop from $417.00 to $440.00 and gave the company a “neutral” rating in a report on Friday, October 4th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $368.74.

Wingstop Stock Down 0.8 %

Shares of NASDAQ:WING opened at $328.77 on Monday. Wingstop Inc. has a 52-week low of $238.06 and a 52-week high of $433.86. The business has a fifty day moving average of $363.05 and a two-hundred day moving average of $380.53. The stock has a market cap of $9.60 billion, a P/E ratio of 95.85, a PEG ratio of 3.06 and a beta of 1.78.

Wingstop (NASDAQ:WING) last announced its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.09). Wingstop had a negative return on equity of 22.69% and a net margin of 17.05%. The firm had revenue of $162.50 million for the quarter, compared to analyst estimates of $160.24 million. During the same quarter in the prior year, the business earned $0.69 EPS. The firm’s quarterly revenue was up 38.8% on a year-over-year basis. On average, equities analysts anticipate that Wingstop Inc. will post 3.68 earnings per share for the current year.

Wingstop Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend is Friday, November 15th. Wingstop’s dividend payout ratio (DPR) is presently 31.49%.

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.