Fred Alger Management Inc. Buys 135,015 Shares of Wingstop Inc (WING)

Fred Alger Management Inc. increased its position in shares of Wingstop Inc (NASDAQ:WING) by 41.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 464,582 shares of the restaurant operator’s stock after acquiring an additional 135,015 shares during the period. Fred Alger Management Inc. owned about 1.60% of Wingstop worth $18,109,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Turner Investments LLC bought a new position in Wingstop during the third quarter valued at about $150,000. Piedmont Investment Advisors LLC bought a new position in Wingstop during the third quarter valued at about $210,000. First Mercantile Trust Co. bought a new position in Wingstop during the fourth quarter valued at about $223,000. Fortaleza Asset Management Inc. raised its holdings in Wingstop by 71.0% during the fourth quarter. Fortaleza Asset Management Inc. now owns 5,960 shares of the restaurant operator’s stock valued at $232,000 after buying an additional 2,475 shares in the last quarter. Finally, Parametric Portfolio Associates LLC bought a new position in Wingstop during the second quarter valued at about $263,000.

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WING stock traded down $1.42 during trading on Monday, reaching $45.81. 543,652 shares of the stock were exchanged, compared to its average volume of 613,436. Wingstop Inc has a twelve month low of $27.29 and a twelve month high of $49.69. The company has a market cap of $1,377.05, a PE ratio of 61.91, a price-to-earnings-growth ratio of 3.19 and a beta of 0.90. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of -2.69.

Wingstop (NASDAQ:WING) last released its earnings results on Thursday, February 22nd. The restaurant operator reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. Wingstop had a negative return on equity of 37.25% and a net margin of 25.87%. The business had revenue of $28.29 million for the quarter, compared to the consensus estimate of $27.49 million. During the same period last year, the business earned $0.15 earnings per share. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. equities research analysts anticipate that Wingstop Inc will post 0.76 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 23rd. Investors of record on Friday, March 9th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date was Thursday, March 8th. Wingstop’s dividend payout ratio (DPR) is presently 28.38%.

Several research firms have weighed in on WING. Zacks Investment Research upgraded Wingstop from a “sell” rating to a “hold” rating in a report on Wednesday, March 21st. Stephens reaffirmed a “buy” rating and issued a $50.00 price target on shares of Wingstop in a research report on Wednesday, January 31st. Cowen reaffirmed an “outperform” rating and issued a $51.00 price target (up from $46.00) on shares of Wingstop in a research report on Tuesday, February 6th. Robert W. Baird downgraded Wingstop from an “outperform” rating to a “neutral” rating in a research report on Tuesday, February 20th. Finally, Wedbush reaffirmed a “buy” rating and issued a $41.00 price target on shares of Wingstop in a research report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Wingstop currently has a consensus rating of “Buy” and a consensus price target of $45.42.

In related news, Director Michael J. Hislop sold 5,000 shares of Wingstop stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $48.30, for a total transaction of $241,500.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Flynn Dekker sold 10,000 shares of Wingstop stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $45.60, for a total value of $456,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,770 shares of company stock worth $827,718. 1.70% of the stock is owned by company insiders.

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About Wingstop

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.

Institutional Ownership by Quarter for Wingstop (NASDAQ:WING)

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