Lecap Asset Management Ltd. Invests $405,000 in Wingstop Inc. $WING

Key Points

• Lecap Asset Management Ltd. has invested $405,000 in Wingstop Inc., acquiring a total of 1,203 shares of the company.
• CEO Michael Skipworth recently sold 4,500 shares of Wingstop for approximately $1.67 million, reducing his ownership stake by 9.52%.
• Wingstop declared a quarterly dividend of $0.30 per share, up from $0.27, reflecting a 0.5% yield and a payout ratio of 20%.

Lecap Asset Management Ltd. bought a new position in shares of Wingstop Inc. (NASDAQ:WING - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,203 shares of the restaurant operator's stock, valued at approximately $405,000.

Other hedge funds also recently modified their holdings of the company. Signaturefd LLC lifted its stake in shares of Wingstop by 106.9% during the 1st quarter. Signaturefd LLC now owns 149 shares of the restaurant operator's stock worth $34,000 after buying an additional 77 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Wingstop by 121.4% during 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 last quarter. UMB Bank n.a. lifted its stake in shares of Wingstop by 280.3% during the 1st quarter. UMB Bank n.a. now owns 270 shares of the restaurant operator's stock worth $61,000 after buying an additional 199 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of Wingstop by 22.3% during the 2nd quarter. Parallel Advisors LLC now owns 181 shares of the restaurant operator's stock worth $61,000 after buying an additional 33 shares during the last quarter. Finally, National Bank of Canada FI acquired a new stake in shares of Wingstop during the 1st quarter worth about $70,000.

Insider Buying and Selling

In related news, CEO Michael Skipworth sold 4,500 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $370.34, for a total value of $1,666,530.00. Following the completion of the transaction, the chief executive officer owned 42,777 shares of the company's stock, valued at $15,842,034.18. This represents a 9.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Marisa Carona sold 11,938 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $370.34, for a total transaction of $4,421,118.92. The disclosure for this sale can be found here. Insiders sold a total of 21,838 shares of company stock worth $8,118,535 in the last three months. 0.72% of the stock is owned by corporate insiders.

Wingstop Stock Performance

Shares of WING stock opened at $251.98 on Friday. Wingstop Inc. has a fifty-two week low of $204.00 and a fifty-two week high of $418.84. The stock's fifty day moving average price is $303.50 and its two-hundred day moving average price is $296.66. The company has a market cap of $7.04 billion, a PE ratio of 42.00, a P/E/G ratio of 3.33 and a beta of 1.78.

Wingstop (NASDAQ:WING - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The restaurant operator reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.12. Wingstop had a negative return on equity of 17.07% and a net margin of 25.61%.The business had revenue of $174.33 million during the quarter, compared to the consensus estimate of $172.60 million. During the same period in the prior year, the company earned $0.93 EPS. Wingstop's revenue for the quarter was up 12.0% on a year-over-year basis. On average, equities analysts predict that Wingstop Inc. will post 4.18 EPS for the current fiscal year.

Wingstop Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 15th were issued a dividend of $0.30 per share. This is a boost from Wingstop's previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.20 annualized dividend and a dividend yield of 0.5%. Wingstop's payout ratio is presently 20.00%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. BTIG Research raised their target price on shares of Wingstop from $350.00 to $430.00 and gave the stock a "buy" rating in a research note on Wednesday, June 11th. TD Securities reiterated a "buy" rating and issued a $440.00 price objective on shares of Wingstop in a research note on Tuesday, June 17th. Morgan Stanley lifted their price objective on shares of Wingstop from $367.00 to $405.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Westpark Capital upgraded shares of Wingstop to a "strong-buy" rating in a research note on Wednesday, July 9th. Finally, Melius began coverage on shares of Wingstop in a research note on Monday, July 14th. They issued a "hold" rating and a $350.00 price objective for the company. Four analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $376.92.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.