Pallas Capital Advisors LLC Buys New Shares in Wingstop Inc. (NASDAQ:WING)

Pallas Capital Advisors LLC bought a new stake in shares of Wingstop Inc. (NASDAQ:WING - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,135 shares of the restaurant operator's stock, valued at approximately $482,000.

A number of other large investors have also bought and sold shares of WING. Sumitomo Mitsui Trust Group Inc. raised its holdings in Wingstop by 14.4% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,170 shares of the restaurant operator's stock valued at $901,000 after buying an additional 400 shares during the last quarter. Savant Capital LLC boosted its holdings in shares of Wingstop by 43.5% during the fourth quarter. Savant Capital LLC now owns 5,536 shares of the restaurant operator's stock worth $1,573,000 after purchasing an additional 1,678 shares during the period. V Square Quantitative Management LLC grew its stake in shares of Wingstop by 34.9% in the fourth quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator's stock worth $41,000 after purchasing an additional 37 shares during the last quarter. New York State Teachers Retirement System increased its holdings in Wingstop by 5.6% during the 4th quarter. New York State Teachers Retirement System now owns 35,752 shares of the restaurant operator's stock valued at $10,161,000 after purchasing an additional 1,893 shares during the period. Finally, Blue Trust Inc. raised its position in Wingstop by 103.2% during the 4th quarter. Blue Trust Inc. now owns 256 shares of the restaurant operator's stock valued at $73,000 after purchasing an additional 130 shares during the last quarter.

Insider Buying and Selling

In other news, CEO Michael Skipworth sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $337.34, for a total value of $3,373,400.00. Following the transaction, the chief executive officer now owns 47,190 shares in the company, valued at $15,919,074.60. This represents a 17.49% 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 Raj Kapoor sold 637 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $273.07, for a total transaction of $173,945.59. Following the completion of the transaction, the senior vice president now directly owns 517 shares in the company, valued at approximately $141,177.19. The trade was a 55.20% decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. BMO Capital Markets reduced their target price on Wingstop from $335.00 to $300.00 and set a "market perform" rating on the stock in a research note on Thursday, February 20th. UBS Group reduced their price objective on shares of Wingstop from $300.00 to $255.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Cowen reaffirmed a "buy" rating on shares of Wingstop in a research report on Thursday, May 1st. Sanford C. Bernstein reiterated an "overweight" rating and set a $360.00 price target on shares of Wingstop in a research report on Wednesday, May 14th. Finally, Stephens reissued an "overweight" rating and issued a $385.00 price target on shares of Wingstop in a research note on Wednesday, May 14th. Five analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Wingstop has a consensus rating of "Moderate Buy" and a consensus target price of $350.96.

Wingstop Stock Down 1.2%

Shares of NASDAQ WING traded down $4.39 during midday trading on Friday, hitting $354.06. The stock had a trading volume of 1,202,172 shares, compared to its average volume of 637,551. The business's 50 day moving average is $286.62 and its 200-day moving average is $278.16. Wingstop Inc. has a 52 week low of $204.00 and a 52 week high of $433.86. The company has a market cap of $9.88 billion, a P/E ratio of 95.43, a PEG ratio of 2.27 and a beta of 1.88.

Wingstop (NASDAQ:WING - Get Free Report) last issued its earnings results on Wednesday, April 30th. The restaurant operator reported $0.99 earnings per share for the quarter, topping analysts' consensus estimates of $0.84 by $0.15. The business had revenue of $171.09 million during the quarter, compared to analyst estimates of $172.25 million. Wingstop had a negative return on equity of 21.59% and a net margin of 17.37%. Wingstop's revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.98 EPS. As a group, analysts expect that Wingstop Inc. will post 4.18 EPS for the current fiscal year.

Wingstop Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 16th were given a dividend of $0.27 per share. The ex-dividend date was Friday, May 16th. This represents a $1.08 dividend on an annualized basis and a yield of 0.31%. Wingstop's dividend payout ratio (DPR) is 18.09%.

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.