Assenagon Asset Management S.A. Invests $18.38 Million in Wingstop Inc. $WING

Key Points

• Assenagon Asset Management acquired 106,000 Wingstop shares worth approximately $18.38 million, representing a 0.39% stake at the end of the second quarter.
• Wingstop reported quarterly EPS of $1.18, exceeding analysts’ $1.02 estimate, while revenue rose 6.5% year over year to $185.56 million but fell short of expectations.
• The company increased its quarterly dividend from $0.30 to $0.33 per share, while analysts maintained a consensus “Moderate Buy” rating with an average price target of $241.81.

Assenagon Asset Management S.A. acquired a new position in shares of Wingstop Inc. (NASDAQ:WING - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 106,000 shares of the restaurant operator's stock, valued at approximately $18,381,000. Assenagon Asset Management S.A. owned 0.39% of Wingstop at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of WING. SBI Securities Co. Ltd. lifted its position in shares of Wingstop by 76.9% during the 4th quarter. SBI Securities Co. Ltd. now owns 138 shares of the restaurant operator's stock worth $33,000 after purchasing an additional 60 shares during the last quarter. Rakuten Securities Inc. grew its holdings in Wingstop by 197.9% in the 4th quarter. Rakuten Securities Inc. now owns 143 shares of the restaurant operator's stock valued at $34,000 after buying an additional 95 shares during the last quarter. GW&K Investment Management LLC grew its holdings in Wingstop by 75.7% in the 4th quarter. GW&K Investment Management LLC now owns 188 shares of the restaurant operator's stock valued at $45,000 after buying an additional 81 shares during the last quarter. Harbor Investment Advisory LLC bought a new position in Wingstop in the 2nd quarter worth approximately $46,000. Finally, Geneos Wealth Management Inc. increased 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 worth $49,000 after buying an additional 119 shares during the period.

Wingstop Price Performance

NASDAQ:WING opened at $116.82 on Monday. The firm has a market capitalization of $3.18 billion, a PE ratio of 27.75, a price-to-earnings-growth ratio of 1.39 and a beta of 1.81. Wingstop Inc. has a 12-month low of $115.01 and a 12-month high of $345.81. The firm has a 50-day moving average price of $149.34 and a 200 day moving average price of $182.20.

Wingstop (NASDAQ:WING - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The restaurant operator reported $1.18 earnings per share for the quarter, beating analysts' consensus estimates of $1.02 by $0.16. The company had revenue of $185.56 million for the quarter, compared to the consensus estimate of $190.25 million. Wingstop had a negative return on equity of 16.31% and a net margin of 16.15%.The company's quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.00 earnings per share. On average, research analysts expect that Wingstop Inc. will post 4.5 EPS for the current year.

Wingstop Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, September 5th. Shareholders of record on Saturday, August 15th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, August 14th. This is a boost from Wingstop's previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.1%. Wingstop's dividend payout ratio (DPR) is 28.50%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. DA Davidson decreased their price target on shares of Wingstop from $200.00 to $190.00 and set a "buy" rating on the stock in a research report on Thursday, July 30th. UBS Group reaffirmed a "neutral" rating on shares of Wingstop in a research report on Tuesday, July 14th. Mizuho reduced their target price on shares of Wingstop from $280.00 to $240.00 and set an "outperform" rating for the company in a research note on Friday, July 24th. Guggenheim decreased their target price on Wingstop from $255.00 to $215.00 and set a "buy" rating on the stock in a research report on Monday, May 4th. Finally, Piper Sandler set a $173.00 price target on Wingstop in a research note on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Wingstop presently has a consensus rating of "Moderate Buy" and an average price target of $241.81.

Wingstop Company 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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