Y Intercept Hong Kong Ltd Purchases 16,361 Shares of Wingstop Inc. (NASDAQ:WING)

Y Intercept Hong Kong Ltd increased its position in Wingstop Inc. (NASDAQ:WING) by 779.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 18,461 shares of the restaurant operator’s stock after buying an additional 16,361 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Wingstop were worth $5,247,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of WING. True Wealth Design LLC purchased a new stake in Wingstop in the 3rd quarter worth $36,000. V Square Quantitative Management LLC grew its position in shares of Wingstop by 34.9% during 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 in the last quarter. Hollencrest Capital Management grew its position in shares of Wingstop by 53.8% during the third quarter. Hollencrest Capital Management now owns 100 shares of the restaurant operator’s stock worth $42,000 after purchasing an additional 35 shares in the last quarter. Blue Trust Inc. grew its position in shares of Wingstop by 384.6% during the third quarter. Blue Trust Inc. now owns 126 shares of the restaurant operator’s stock worth $53,000 after purchasing an additional 100 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in shares of Wingstop during the fourth quarter worth about $71,000.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on WING shares. Barclays cut their price objective on shares of Wingstop from $359.00 to $315.00 and set an “overweight” rating for the company in a report on Thursday. TD Cowen cut their target price on shares of Wingstop from $450.00 to $365.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. TD Securities cut their price objective on Wingstop from $365.00 to $305.00 and set a “buy” rating for the company in a research report on Thursday. BTIG Research upgraded Wingstop from a “neutral” rating to a “buy” rating and set a $370.00 price objective for the company in a research report on Thursday, October 31st. Finally, Northcoast Research lowered Wingstop from a “buy” rating to a “neutral” rating in a research report on Friday. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Wingstop presently has an average rating of “Moderate Buy” and an average price target of $367.05.

Wingstop Trading Down 5.3 %

WING stock opened at $234.02 on Monday. Wingstop Inc. has a 12 month low of $232.19 and a 12 month high of $433.86. The company has a 50-day moving average price of $288.89 and a 200 day moving average price of $340.14. The stock has a market cap of $6.71 billion, a PE ratio of 63.08, a P/E/G ratio of 2.27 and a beta of 1.81.

Wingstop Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.08 annualized dividend and a dividend yield of 0.46%. Wingstop’s dividend payout ratio (DPR) is presently 29.11%.

Wingstop announced that its board has initiated a stock repurchase plan on Thursday, December 5th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the restaurant operator to repurchase up to 5.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at Wingstop

In other news, SVP Raj Kapoor sold 266 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $324.38, for a total transaction of $86,285.08. Following the completion of the sale, the senior vice president now directly owns 266 shares of the company’s stock, valued at approximately $86,285.08. The trade was a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.36% of the stock is owned by company insiders.

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.