ClearAlpha Technologies LP Grows Holdings in Wingstop Inc. (NASDAQ:WING)

ClearAlpha Technologies LP raised its position in shares of Wingstop Inc. (NASDAQ:WING) by 91.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,447 shares of the restaurant operator’s stock after purchasing an additional 692 shares during the quarter. ClearAlpha Technologies LP’s holdings in Wingstop were worth $602,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Hollencrest Capital Management purchased a new stake in Wingstop during the 2nd quarter valued at approximately $27,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Wingstop during the second quarter worth $34,000. True Wealth Design LLC purchased a new position in Wingstop during the third quarter valued at $36,000. Massmutual Trust Co. FSB ADV grew its stake in Wingstop by 60.3% during the second quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock valued at $39,000 after acquiring an additional 35 shares in the last quarter. Finally, V Square Quantitative Management LLC increased its holdings in Wingstop by 60.6% in the 3rd quarter. V Square Quantitative Management LLC now owns 106 shares of the restaurant operator’s stock valued at $44,000 after acquiring an additional 40 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WING. Piper Sandler decreased their price objective on Wingstop from $375.00 to $300.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. The Goldman Sachs Group raised Wingstop from a “neutral” rating to a “buy” rating and cut their target price for the company from $458.00 to $377.00 in a research report on Friday, November 8th. Barclays dropped their price objective on shares of Wingstop from $470.00 to $380.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Benchmark raised shares of Wingstop from a “hold” rating to a “buy” rating and set a $340.00 target price on the stock in a research note on Thursday, October 31st. Finally, Wedbush restated an “outperform” rating and issued a $390.00 target price on shares of Wingstop in a report on Tuesday, November 5th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $368.74.

Wingstop Stock Performance

NASDAQ:WING opened at $328.77 on Monday. The firm has a 50-day simple moving average of $363.05 and a 200-day simple moving average of $380.53. Wingstop Inc. has a one year low of $238.06 and a one year high of $433.86. The firm has a market cap of $9.60 billion, a P/E ratio of 95.85, a P/E/G ratio of 3.06 and a beta of 1.78.

Wingstop (NASDAQ:WING) last issued its quarterly earnings data on Wednesday, October 30th. The restaurant operator reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.09). The business had revenue of $162.50 million during the quarter, compared to the consensus estimate of $160.24 million. Wingstop had a negative return on equity of 22.69% and a net margin of 17.05%. The business’s quarterly revenue was up 38.8% on a year-over-year basis. During the same period last year, the firm earned $0.69 EPS. On average, research analysts predict that Wingstop Inc. will post 3.68 EPS for the current fiscal year.

Wingstop Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date is Friday, November 15th. Wingstop’s dividend payout ratio is currently 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.