Wingstop Inc (WING) Sees Large Growth in Short Interest
Wingstop Inc (NASDAQ:WING) was the target of a large increase in short interest in May. As of May 15th, there was short interest totalling 8,139,091 shares, an increase of 1.5% from the April 28th total of 8,021,933 shares. Based on an average daily volume of 870,925 shares, the days-to-cover ratio is presently 9.3 days.
Several equities analysts have issued reports on the stock. Wedbush restated an “outperform” rating and issued a $36.00 price target on shares of Wingstop in a research report on Monday, May 15th. Stephens upped their price objective on shares of Wingstop from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, May 8th. Zacks Investment Research raised shares of Wingstop from a “hold” rating to a “strong-buy” rating and set a $34.00 price objective on the stock in a research note on Wednesday, May 3rd. Jefferies Group LLC reissued a “hold” rating and set a $28.00 target price on shares of Wingstop in a research note on Wednesday, April 12th. Finally, Wells Fargo & Co reissued an “outperform” rating and set a $35.00 target price (up from $31.00) on shares of Wingstop in a research note on Monday, May 8th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $34.55.
In related news, Director Sidney J. Feltenstein sold 26,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $30.06, for a total transaction of $781,560.00. Following the completion of the transaction, the director now directly owns 39,750 shares in the company, valued at approximately $1,194,885. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Flynn Dekker sold 4,102 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $30.59, for a total transaction of $125,480.18. Following the transaction, the insider now owns 44,014 shares of the company’s stock, valued at $1,346,388.26. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 80,510 shares of company stock valued at $2,448,937. 45.70% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP boosted its stake in shares of Wingstop by 15.6% in the first quarter. Wellington Management Group LLP now owns 3,955,238 shares of the restaurant operator’s stock worth $111,855,000 after buying an additional 533,086 shares during the period. BlackRock Inc. boosted its stake in shares of Wingstop by 200,013.0% in the first quarter. BlackRock Inc. now owns 3,473,961 shares of the restaurant operator’s stock worth $98,242,000 after buying an additional 3,472,225 shares during the period. Vanguard Group Inc. boosted its stake in shares of Wingstop by 4.0% in the first quarter. Vanguard Group Inc. now owns 2,417,086 shares of the restaurant operator’s stock worth $68,355,000 after buying an additional 92,070 shares during the period. Stephens Investment Management Group LLC boosted its stake in shares of Wingstop by 20.2% in the first quarter. Stephens Investment Management Group LLC now owns 1,366,966 shares of the restaurant operator’s stock worth $38,658,000 after buying an additional 229,784 shares during the period. Finally, 12 West Capital Management LP acquired a new stake in shares of Wingstop during the fourth quarter worth approximately $31,234,000. 92.13% of the stock is currently owned by institutional investors and hedge funds.
Wingstop (NASDAQ:WING) traded down 2.79% on Friday, hitting $28.89. 483,226 shares of the company’s stock were exchanged. The stock has a market cap of $837.15 million, a P/E ratio of 48.07 and a beta of 0.81. Wingstop has a 52-week low of $24.74 and a 52-week high of $33.42. The firm has a 50 day moving average price of $29.54 and a 200-day moving average price of $28.89.
Wingstop (NASDAQ:WING) last issued its quarterly earnings data on Thursday, May 4th. The restaurant operator reported $0.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.06. The business had revenue of $26.57 million for the quarter, compared to the consensus estimate of $24.22 million. Wingstop had a net margin of 17.11% and a negative return on equity of 69.17%. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.15 EPS. Analysts predict that Wingstop will post $0.70 earnings per share for the current fiscal year.
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Wingstop Company Profile
Wingstop Inc is franchisor and operator of restaurants that specializes in cooked-to-order, hand-sauced and tossed chicken wings. The Company operates through two segments: Franchise and Company. As of December 31, 2016, the Company offers its guests 11 flavors on bone-in and boneless chicken wings paired with hand-cut, seasoned fries and sides.
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