Assetmark Inc. Raises Stock Position in Wingstop Inc. (NASDAQ:WING)

Assetmark Inc. boosted its position in shares of Wingstop Inc. (NASDAQ:WING) by 0.7% 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 9,042 shares of the restaurant operator’s stock after acquiring an additional 62 shares during the period. Assetmark Inc.’s holdings in Wingstop were worth $2,570,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of WING. SBI Securities Co. Ltd. purchased a new position in Wingstop during the fourth quarter valued at approximately $30,000. True Wealth Design LLC purchased a new position in Wingstop during the third quarter valued at approximately $36,000. V Square Quantitative Management LLC grew its stake in Wingstop by 34.9% during the fourth quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator’s stock valued at $41,000 after acquiring an additional 37 shares in the last quarter. R Squared Ltd purchased a new position in Wingstop during the fourth quarter valued at approximately $71,000. Finally, Blue Trust Inc. grew its stake in Wingstop by 103.2% during the fourth quarter. Blue Trust Inc. now owns 256 shares of the restaurant operator’s stock valued at $73,000 after acquiring an additional 130 shares in the last quarter.

Insider Activity at Wingstop

In related news, SVP Raj Kapoor sold 266 shares of the company’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 in the company, valued at $86,285.08. This represents a 50.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.36% of the stock is currently owned by company insiders.

Wingstop Stock Performance

Shares of WING opened at $227.12 on Monday. The firm has a market cap of $6.51 billion, a price-to-earnings ratio of 61.22, a PEG ratio of 2.27 and a beta of 1.88. Wingstop Inc. has a fifty-two week low of $209.61 and a fifty-two week high of $433.86. The firm has a 50 day moving average price of $276.65 and a 200-day moving average price of $329.66.

Wingstop announced that its board has approved a share buyback plan on Thursday, December 5th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the restaurant operator to repurchase up to 5.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Wingstop Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be issued a dividend of $0.27 per share. The ex-dividend date is Friday, March 7th. This represents a $1.08 dividend on an annualized basis and a yield of 0.48%. Wingstop’s dividend payout ratio is currently 29.11%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on WING. Stephens reaffirmed an “overweight” rating and set a $450.00 price objective on shares of Wingstop in a research note on Wednesday, February 19th. Morgan Stanley cut their price target on shares of Wingstop from $389.00 to $375.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. Stifel Nicolaus cut their price target on shares of Wingstop from $375.00 to $350.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Guggenheim raised shares of Wingstop from a “neutral” rating to a “buy” rating and set a $280.00 price target for the company in a research note on Monday, February 24th. Finally, Benchmark cut their price target on shares of Wingstop from $340.00 to $325.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $357.67.

About Wingstop

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.