Allspring Global Investments Holdings LLC Sells 38,100 Shares of Wingstop Inc. (NASDAQ:WING)

Allspring Global Investments Holdings LLC trimmed its position in Wingstop Inc. (NASDAQ:WING) by 20.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 144,944 shares of the restaurant operator’s stock after selling 38,100 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Wingstop were worth $42,305,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC lifted its holdings in shares of Wingstop by 984.7% in the third quarter. FMR LLC now owns 217,946 shares of the restaurant operator’s stock valued at $90,683,000 after purchasing an additional 197,853 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in Wingstop by 392.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 184,068 shares of the restaurant operator’s stock valued at $76,587,000 after buying an additional 146,692 shares during the last quarter. Eagle Asset Management Inc. boosted its position in Wingstop by 40.8% during the 3rd quarter. Eagle Asset Management Inc. now owns 465,368 shares of the restaurant operator’s stock worth $193,630,000 after acquiring an additional 134,802 shares during the last quarter. Two Sigma Advisers LP grew its stake in shares of Wingstop by 20.5% during the 3rd quarter. Two Sigma Advisers LP now owns 418,418 shares of the restaurant operator’s stock worth $174,095,000 after acquiring an additional 71,300 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of Wingstop by 41,244.9% in the third quarter. International Assets Investment Management LLC now owns 65,325 shares of the restaurant operator’s stock valued at $27,180,000 after purchasing an additional 65,167 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. TD Cowen decreased their target price on shares of Wingstop from $450.00 to $365.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Barclays lowered their target price on Wingstop from $470.00 to $380.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. BTIG Research upgraded Wingstop from a “neutral” rating to a “buy” rating and set a $370.00 target price on the stock in a report on Thursday, October 31st. Northcoast Research raised Wingstop from a “neutral” rating to a “buy” rating and set a $350.00 price target on the stock in a research report on Friday, November 1st. Finally, Wedbush reissued an “outperform” rating and issued a $390.00 price objective on shares of Wingstop in a report on Tuesday, November 5th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Wingstop currently has a consensus rating of “Moderate Buy” and a consensus target price of $385.72.

Wingstop Stock Performance

NASDAQ:WING opened at $304.69 on Friday. Wingstop Inc. has a 52 week low of $266.45 and a 52 week high of $433.86. The firm’s 50-day simple moving average is $293.97 and its 200 day simple moving average is $343.80. The firm has a market cap of $8.90 billion, a price-to-earnings ratio of 88.83, a P/E/G ratio of 2.76 and a beta of 1.81.

Wingstop declared that its board has approved a stock repurchase plan on Thursday, December 5th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the restaurant operator to purchase up to 5.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Wingstop

In other news, SVP Raj Kapoor sold 266 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $324.38, for a total transaction of $86,285.08. Following the sale, the senior vice president now directly owns 266 shares of the company’s stock, valued at approximately $86,285.08. This represents a 50.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.36% of the company’s stock.

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.