Wingstop Inc. (NASDAQ:WING) Shares Sold by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd reduced its stake in Wingstop Inc. by 77.8%, now holding 4,096 shares valued at $924,000 after selling 14,365 shares in Q1.
• Several large investors, including Price T Rowe Associates and Massachusetts Financial Services, have increased their stakes in Wingstop, highlighting growing investor interest.
• Wingstop's recent quarterly earnings showed an EPS of $0.99, exceeding estimates, with a revenue of $171.09 million, although slightly below analysts' expectations.

Y Intercept Hong Kong Ltd trimmed its holdings in shares of Wingstop Inc. (NASDAQ:WING - Free Report) by 77.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,096 shares of the restaurant operator's stock after selling 14,365 shares during the period. Y Intercept Hong Kong Ltd's holdings in Wingstop were worth $924,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of WING. Alyeska Investment Group L.P. purchased a new stake in shares of Wingstop in the 4th quarter valued at about $151,802,000. Norges Bank purchased a new stake in shares of Wingstop in the 4th quarter valued at about $106,123,000. Ameriprise Financial Inc. increased its position in Wingstop by 760.9% in the 4th quarter. Ameriprise Financial Inc. now owns 381,745 shares of the restaurant operator's stock valued at $108,497,000 after acquiring an additional 337,401 shares during the period. Champlain Investment Partners LLC acquired a new position in Wingstop in the 4th quarter valued at about $77,855,000. Finally, Price T Rowe Associates Inc. MD increased its position in Wingstop by 29.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,150,217 shares of the restaurant operator's stock valued at $326,893,000 after acquiring an additional 262,229 shares during the period.

Insider Buying and Selling

In other news, CEO Michael Skipworth sold 10,000 shares of Wingstop stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $337.34, for a total transaction of $3,373,400.00. Following the sale, the chief executive officer owned 47,190 shares of the company's stock, valued at approximately $15,919,074.60. The trade was a 17.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Raj Kapoor sold 637 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $273.07, for a total transaction of $173,945.59. Following the transaction, the senior vice president owned 517 shares in the company, valued at $141,177.19. This represents a 55.20% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company's stock.

Wingstop Price Performance

NASDAQ:WING traded down $6.40 during mid-day trading on Tuesday, reaching $283.04. The stock had a trading volume of 280,345 shares, compared to its average volume of 805,572. The company has a market capitalization of $7.90 billion, a price-to-earnings ratio of 47.21, a price-to-earnings-growth ratio of 4.07 and a beta of 1.84. Wingstop Inc. has a 1-year low of $204.00 and a 1-year high of $433.86. The stock's 50 day simple moving average is $338.41 and its two-hundred day simple moving average is $283.96.

Wingstop (NASDAQ:WING - Get Free Report) last issued its earnings results on Wednesday, April 30th. The restaurant operator reported $0.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.84 by $0.15. The firm had revenue of $171.09 million for the quarter, compared to analysts' expectations of $172.25 million. Wingstop had a net margin of 26.45% and a negative return on equity of 18.85%. Wingstop's revenue was up 17.4% on a year-over-year basis. During the same quarter last year, the company posted $0.98 earnings per share. Sell-side analysts anticipate that Wingstop Inc. will post 4.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

WING has been the topic of several recent research reports. Sanford C. Bernstein restated an "overweight" rating and issued a $360.00 price target on shares of Wingstop in a research report on Wednesday, May 14th. UBS Group dropped their price target on Wingstop from $300.00 to $255.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. TD Securities restated a "buy" rating and issued a $440.00 price target on shares of Wingstop in a research report on Tuesday, June 17th. Gordon Haskett upgraded Wingstop to a "strong-buy" rating in a research report on Wednesday, April 30th. Finally, The Goldman Sachs Group boosted their price target on Wingstop from $310.00 to $390.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Five analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $355.80.

Wingstop 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.