Allianz Asset Management GmbH Cuts Position in Wingstop Inc. $WING

Allianz Asset Management GmbH decreased its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 19.6% in the third quarter, Holdings Channel.com reports. The firm owned 17,228 shares of the restaurant operator’s stock after selling 4,209 shares during the period. Allianz Asset Management GmbH’s holdings in Wingstop were worth $4,336,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Quaker Wealth Management LLC grew its stake in shares of Wingstop by 134.2% in the 2nd quarter. Quaker Wealth Management LLC now owns 104 shares of the restaurant operator’s stock worth $35,000 after buying an additional 408 shares during the last quarter. Hantz Financial Services Inc. raised its stake in Wingstop by 4,200.0% during the second quarter. Hantz Financial Services Inc. now owns 129 shares of the restaurant operator’s stock valued at $43,000 after buying an additional 126 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in 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 acquiring an additional 119 shares in the last quarter. True Wealth Design LLC grew 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 acquiring an additional 131 shares during the last quarter. Finally, Allworth Financial LP increased its holdings in shares of Wingstop by 182.5% during the second quarter. Allworth Financial LP now owns 226 shares of the restaurant operator’s stock valued at $76,000 after acquiring an additional 146 shares in the last quarter.

Insider Buying and Selling at Wingstop

In related news, Director Kilandigalu Madati sold 269 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $259.97, for a total value of $69,931.93. Following the transaction, the director owned 5,283 shares of the company’s stock, valued at approximately $1,373,421.51. This trade represents a 4.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.72% of the stock is owned by company insiders.

Wingstop Stock Performance

WING stock opened at $259.64 on Wednesday. The company has a market cap of $7.22 billion, a price-to-earnings ratio of 42.29, a P/E/G ratio of 3.54 and a beta of 1.80. The business’s 50-day moving average is $261.03 and its two-hundred day moving average is $271.62. Wingstop Inc. has a fifty-two week low of $204.00 and a fifty-two week high of $388.14.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on WING shares. Melius Research set a $350.00 price target on shares of Wingstop in a research note on Tuesday, January 20th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $350.00 target price (down from $420.00) on shares of Wingstop in a report on Thursday, October 16th. Northcoast Research upgraded shares of Wingstop from a “neutral” rating to a “buy” rating and set a $300.00 price target on the stock in a report on Wednesday, November 5th. Royal Bank Of Canada raised their price target on shares of Wingstop from $300.00 to $350.00 and gave the company an “outperform” rating in a research report on Tuesday, December 9th. Finally, Wall Street Zen cut Wingstop from a “hold” rating to a “sell” rating in a research report on Saturday. Four investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $338.93.

Wingstop 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.