Arrowstreet Capital Limited Partnership Increases Stock Position in Wingstop Inc. $WING

Arrowstreet Capital Limited Partnership raised its stake in shares of Wingstop Inc. (NASDAQ:WING - Free Report) by 8.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 237,656 shares of the restaurant operator's stock after acquiring an additional 18,703 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.87% of Wingstop worth $36,830,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Baird Financial Group Inc. purchased a new stake in shares of Wingstop in the 1st quarter valued at $256,000. Jones Financial Companies Lllp boosted its holdings in Wingstop by 2,770.6% during the 1st quarter. Jones Financial Companies Lllp now owns 1,952 shares of the restaurant operator's stock valued at $440,000 after acquiring an additional 1,884 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Wingstop by 5.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 92,439 shares of the restaurant operator's stock valued at $20,852,000 after acquiring an additional 4,937 shares during the period. Geneos Wealth Management Inc. grew its position in Wingstop by 121.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator's stock valued at $49,000 after acquiring an additional 119 shares in the last quarter. Finally, Sivia Capital Partners LLC grew its position in Wingstop by 45.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,387 shares of the restaurant operator's stock valued at $467,000 after acquiring an additional 434 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WING. Benchmark reduced their price target on shares of Wingstop from $320.00 to $285.00 and set a "buy" rating on the stock in a research report on Monday, April 20th. Guggenheim dropped their price objective on shares of Wingstop from $255.00 to $215.00 and set a "buy" rating for the company in a report on Monday, May 4th. Stephens set a $200.00 price objective on shares of Wingstop in a report on Tuesday, July 21st. Royal Bank Of Canada cut their target price on shares of Wingstop from $250.00 to $225.00 and set an "outperform" rating on the stock in a research note on Tuesday, June 23rd. Finally, Citigroup raised their price target on shares of Wingstop from $229.00 to $237.00 and gave the company a "buy" rating in a research report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $255.81.

Wingstop Stock Down 1.7%

Shares of Wingstop stock opened at $134.87 on Wednesday. Wingstop Inc. has a 52-week low of $116.35 and a 52-week high of $381.45. The company has a market capitalization of $3.67 billion, a P/E ratio of 33.55, a P/E/G ratio of 1.64 and a beta of 1.79. The company has a 50 day moving average of $152.07 and a 200 day moving average of $190.57.

Wingstop (NASDAQ:WING - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The restaurant operator reported $1.18 EPS for the quarter, beating analysts' consensus estimates of $1.02 by $0.16. Wingstop had a net margin of 15.77% and a negative return on equity of 16.22%. The company had revenue of $183.72 million for the quarter, compared to the consensus estimate of $187.82 million. During the same period in the prior year, the firm posted $0.99 EPS. The company's quarterly revenue was up 7.4% compared to the same quarter last year. As a group, research analysts anticipate that Wingstop Inc. will post 4.55 earnings per share for the current fiscal year.

Wingstop Profile

Wingstop Inc NASDAQ: WING is a fast-casual restaurant chain specializing in chicken wings and related menu items. Founded in 1994 in Garland, Texas, the company has built its brand around bold, chef-inspired wing flavors and a streamlined service model that caters to dine-in, takeout, delivery and catering orders.

The company's core offerings include both bone-in and boneless chicken wings tossed in a variety of proprietary rubs and sauces, such as Original Hot, Lemon Pepper, and Mango Habanero.

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