Penserra Capital Management LLC Sells 3,176 Shares of Wingstop Inc. (NASDAQ:WING)

Penserra Capital Management LLC trimmed its stake in shares of Wingstop Inc. (NASDAQ:WING) by 50.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,100 shares of the restaurant operator’s stock after selling 3,176 shares during the period. Penserra Capital Management LLC’s holdings in Wingstop were worth $1,289,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Fulton Bank N.A. increased its holdings in shares of Wingstop by 5.0% in the third quarter. Fulton Bank N.A. now owns 547 shares of the restaurant operator’s stock valued at $228,000 after purchasing an additional 26 shares during the last quarter. CIBC Asset Management Inc grew its stake in Wingstop by 3.7% in the 2nd quarter. CIBC Asset Management Inc now owns 821 shares of the restaurant operator’s stock valued at $347,000 after buying an additional 29 shares during the last quarter. Dark Forest Capital Management LP raised its holdings in Wingstop by 4.3% in the 2nd quarter. Dark Forest Capital Management LP now owns 752 shares of the restaurant operator’s stock valued at $318,000 after acquiring an additional 31 shares during the period. Massmutual Trust Co. FSB ADV lifted its position in Wingstop by 60.3% during the second quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock worth $39,000 after acquiring an additional 35 shares during the last quarter. Finally, Hollencrest Capital Management boosted its holdings 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 acquiring an additional 35 shares during the period.

Analyst Ratings Changes

Several research analysts have weighed in on the company. The Goldman Sachs Group upgraded Wingstop from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $458.00 to $377.00 in a research report on Friday, November 8th. Truist Financial lifted their price objective on shares of Wingstop from $407.00 to $423.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Wedbush reissued an “outperform” rating and issued a $390.00 price objective on shares of Wingstop in a report on Tuesday, November 5th. Barclays lowered their target price on shares of Wingstop from $470.00 to $380.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Finally, Northcoast Research upgraded Wingstop from a “neutral” rating to a “buy” rating and set a $350.00 price target for the company in a research note on Friday, November 1st. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Wingstop presently has a consensus rating of “Moderate Buy” and an average price target of $368.74.

Wingstop Stock Performance

Shares of WING opened at $338.79 on Wednesday. The firm has a market cap of $9.90 billion, a PE ratio of 98.77, a price-to-earnings-growth ratio of 3.15 and a beta of 1.76. Wingstop Inc. has a 52-week low of $229.27 and a 52-week high of $433.86. The business’s 50 day moving average price is $369.86 and its two-hundred day moving average price is $381.97.

Wingstop (NASDAQ:WING) last posted its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.09). Wingstop had a negative return on equity of 22.69% and a net margin of 17.05%. The firm had revenue of $162.50 million for the quarter, compared to analyst estimates of $160.24 million. The firm’s quarterly revenue was up 38.8% compared to the same quarter last year. During the same period last year, the company posted $0.69 earnings per share. Research analysts predict that Wingstop Inc. will post 3.68 EPS for the current fiscal year.

Wingstop Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend is Friday, November 15th. Wingstop’s dividend payout ratio (DPR) is 31.49%.

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.