Intech Investment Management LLC Sells 8,871 Shares of Wingstop Inc. $WING

Key Points

• Intech Investment Management cut its stake in Wingstop by 62.4% in Q3, selling 8,871 shares and leaving it with 5,334 shares valued at $1.342 million.
• Insider sales: Director Kilandigalu Madati sold 2,700 shares (~$703,971) reducing their holding by 51.11%, and Director Wesley S. Mcdonald sold 566 shares (~$141,500); corporate insiders now own 0.72% of the stock.
• Wingstop beat EPS estimates ($1.00 vs. $0.84) but slightly missed revenue expectations ($175.69M vs. $177.74M), and announced a $0.30 quarterly dividend (annualized $1.20, ~0.5% yield).

Intech Investment Management LLC lowered its stake in Wingstop Inc. (NASDAQ:WING - Free Report) by 62.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,334 shares of the restaurant operator's stock after selling 8,871 shares during the quarter. Intech Investment Management LLC's holdings in Wingstop were worth $1,342,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Cornerstone Planning Group LLC increased its holdings in Wingstop by 1,650.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 105 shares of the restaurant operator's stock worth $26,000 after acquiring an additional 99 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its holdings in Wingstop by 54.3% during the third quarter. CBIZ Investment Advisory Services LLC now owns 142 shares of the restaurant operator's stock valued at $36,000 after purchasing an additional 50 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Wingstop by 121.4% in the first quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator's stock worth $49,000 after purchasing an additional 119 shares during the period. True Wealth Design LLC increased its stake in shares of Wingstop by 623.8% in the second quarter. True Wealth Design LLC now owns 152 shares of the restaurant operator's stock worth $51,000 after purchasing an additional 131 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in shares of Wingstop by 75.9% in the third quarter. Smartleaf Asset Management LLC now owns 204 shares of the restaurant operator's stock worth $51,000 after purchasing an additional 88 shares in the last quarter.

Insider Transactions at Wingstop

In other Wingstop news, Director Kilandigalu Madati sold 2,700 shares of Wingstop stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $260.73, for a total transaction of $703,971.00. Following the completion of the sale, the director directly owned 2,583 shares of the company's stock, valued at $673,465.59. The trade was a 51.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Wesley S. Mcdonald sold 566 shares of the stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $250.00, for a total value of $141,500.00. Following the transaction, the director directly owned 4,375 shares in the company, valued at $1,093,750. The trade was a 11.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.72% of the stock is owned by corporate insiders.

Wingstop Stock Performance

NASDAQ WING opened at $229.17 on Friday. The stock has a 50 day moving average price of $259.37 and a 200-day moving average price of $261.34. Wingstop Inc. has a one year low of $204.00 and a one year high of $388.14. The company has a market capitalization of $6.30 billion, a P/E ratio of 37.08, a P/E/G ratio of 2.58 and a beta of 1.82.

Wingstop (NASDAQ:WING - Get Free Report) last announced its quarterly earnings results on Wednesday, February 18th. The restaurant operator reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.16. Wingstop had a net margin of 25.01% and a negative return on equity of 16.12%. The company had revenue of $175.69 million for the quarter, compared to analysts' expectations of $177.74 million. During the same quarter in the previous year, the business posted $0.92 earnings per share. Wingstop's quarterly revenue was up 8.6% on a year-over-year basis. As a group, equities analysts predict that Wingstop Inc. will post 4.18 EPS for the current fiscal year.

Wingstop Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 6th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Friday, March 6th. Wingstop's dividend payout ratio is currently 19.42%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on WING shares. Jefferies Financial Group reaffirmed a "buy" rating and issued a $350.00 target price on shares of Wingstop in a report on Monday, December 15th. The Goldman Sachs Group reiterated a "buy" rating and set a $335.00 target price on shares of Wingstop in a research report on Wednesday, February 18th. Melius Research set a $350.00 price target on Wingstop in a report on Tuesday, January 20th. Barclays dropped their price target on Wingstop from $335.00 to $330.00 and set an "overweight" rating for the company in a research note on Thursday, February 19th. Finally, Truist Financial set a $374.00 price objective on shares of Wingstop and gave the company a "buy" rating in a report on Wednesday, February 18th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Wingstop has an average rating of "Moderate Buy" and an average target price of $335.86.

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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