Kornitzer Capital Management Inc. KS Has $11.13 Million Holdings in Wingstop Inc. (NASDAQ:WING)

Kornitzer Capital Management Inc. KS lowered its stake in Wingstop Inc. (NASDAQ:WING) by 26.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,391 shares of the restaurant operator’s stock after selling 15,845 shares during the period. Kornitzer Capital Management Inc. KS owned approximately 0.15% of Wingstop worth $11,133,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its position in shares of Wingstop by 542.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 10,773 shares of the restaurant operator’s stock worth $2,764,000 after buying an additional 9,097 shares during the last quarter. Comerica Bank bought a new position in shares of Wingstop in the third quarter worth about $4,021,000. Strs Ohio increased its stake in shares of Wingstop by 12.4% in the fourth quarter. Strs Ohio now owns 79,100 shares of the restaurant operator’s stock worth $20,295,000 after purchasing an additional 8,700 shares during the period. Teza Capital Management LLC bought a new position in shares of Wingstop in the third quarter worth about $1,961,000. Finally, Legato Capital Management LLC increased its stake in shares of Wingstop by 5.6% in the fourth quarter. Legato Capital Management LLC now owns 1,605 shares of the restaurant operator’s stock worth $412,000 after purchasing an additional 85 shares during the period.

Insider Transactions at Wingstop

In other news, CEO Michael Skipworth sold 10,843 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $337.40, for a total value of $3,658,428.20. Following the transaction, the chief executive officer now directly owns 17,107 shares of the company’s stock, valued at approximately $5,771,901.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Wingstop news, CEO Michael Skipworth sold 10,843 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $337.40, for a total transaction of $3,658,428.20. Following the transaction, the chief executive officer now owns 17,107 shares of the company’s stock, valued at approximately $5,771,901.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kilandigalu Madati sold 1,472 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $339.87, for a total value of $500,288.64. Following the transaction, the director now directly owns 5,450 shares in the company, valued at approximately $1,852,291.50. The disclosure for this sale can be found here. Insiders have sold 14,901 shares of company stock valued at $5,120,605 in the last three months. 0.36% of the stock is owned by corporate insiders.

Wingstop Price Performance

Shares of WING traded down $9.03 on Friday, hitting $347.37. The company’s stock had a trading volume of 626,196 shares, compared to its average volume of 409,486. The company has a market capitalization of $10.20 billion, a PE ratio of 147.82, a PEG ratio of 6.32 and a beta of 1.68. Wingstop Inc. has a fifty-two week low of $150.08 and a fifty-two week high of $379.00. The company has a 50 day moving average price of $348.57 and a 200 day moving average price of $274.32.

Wingstop (NASDAQ:WING) last announced its earnings results on Wednesday, February 21st. The restaurant operator reported $0.64 EPS for the quarter, topping the consensus estimate of $0.57 by $0.07. The business had revenue of $127.06 million for the quarter, compared to the consensus estimate of $120.47 million. Wingstop had a negative return on equity of 17.66% and a net margin of 15.25%. Wingstop’s revenue was up 21.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 EPS. On average, equities analysts forecast that Wingstop Inc. will post 3 EPS for the current year.

Wingstop Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.25%. The ex-dividend date of this dividend was Thursday, March 7th. Wingstop’s payout ratio is currently 37.45%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Stephens assumed coverage on Wingstop in a research note on Friday, April 12th. They issued an “overweight” rating and a $425.00 price objective on the stock. Jefferies Financial Group lifted their price objective on Wingstop from $310.00 to $335.00 and gave the stock a “hold” rating in a research note on Tuesday. Robert W. Baird lifted their price objective on Wingstop from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. Citigroup lifted their price objective on Wingstop from $320.00 to $375.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, BMO Capital Markets lifted their price objective on Wingstop from $235.00 to $275.00 and gave the stock a “market perform” rating in a research note on Thursday, February 22nd. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $290.83.

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.