Investors Purchase Large Volume of Call Options on Wingstop (WING)

Wingstop Inc (NASDAQ:WING) was the recipient of some unusual options trading on Tuesday. Traders purchased 2,926 call options on the company. This is an increase of 2,020% compared to the average daily volume of 138 call options.

In other news, insider Lawrence Kruguer sold 1,466 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $79.72, for a total transaction of $116,869.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Charles R. Morrison sold 20,009 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $78.10, for a total value of $1,562,702.90. Following the transaction, the chief executive officer now directly owns 123,007 shares of the company’s stock, valued at $9,606,846.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 49,918 shares of company stock valued at $3,649,754. Insiders own 1.00% of the company’s stock.

Several hedge funds have recently modified their holdings of the business. LS Investment Advisors LLC boosted its holdings in shares of Wingstop by 4.6% in the 1st quarter. LS Investment Advisors LLC now owns 2,963 shares of the restaurant operator’s stock valued at $225,000 after purchasing an additional 130 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Wingstop by 0.3% in the 1st quarter. Arizona State Retirement System now owns 45,252 shares of the restaurant operator’s stock valued at $3,441,000 after purchasing an additional 136 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Wingstop by 1.9% in the 4th quarter. State of Alaska Department of Revenue now owns 9,805 shares of the restaurant operator’s stock valued at $629,000 after purchasing an additional 185 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of Wingstop by 1.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 11,347 shares of the restaurant operator’s stock valued at $863,000 after purchasing an additional 205 shares in the last quarter. Finally, Bank of Montreal Can boosted its holdings in shares of Wingstop by 16.0% in the 4th quarter. Bank of Montreal Can now owns 1,525 shares of the restaurant operator’s stock valued at $98,000 after purchasing an additional 210 shares in the last quarter.

WING has been the subject of several recent research reports. Guggenheim cut Wingstop from a “buy” rating to a “neutral” rating and set a $72.00 price target for the company. in a research report on Tuesday, April 2nd. Wells Fargo & Co increased their price target on Wingstop from $76.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, May 6th. BidaskClub upgraded Wingstop from a “hold” rating to a “buy” rating in a research note on Saturday, March 16th. Stephens upped their price objective on Wingstop from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. Finally, Wedbush restated a “buy” rating and issued a $74.00 price objective (up previously from $69.00) on shares of Wingstop in a research note on Wednesday, March 13th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $70.99.

Wingstop stock traded up $0.25 during mid-day trading on Friday, reaching $79.68. 299,131 shares of the company were exchanged, compared to its average volume of 528,545. Wingstop has a 12 month low of $47.83 and a 12 month high of $82.00. The firm has a market cap of $2.29 billion, a PE ratio of 94.86, a price-to-earnings-growth ratio of 5.39 and a beta of 0.85.

Wingstop (NASDAQ:WING) last posted its quarterly earnings data on Tuesday, May 7th. The restaurant operator reported $0.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.02. Wingstop had a negative return on equity of 13.31% and a net margin of 13.52%. The firm had revenue of $48.05 million for the quarter, compared to analyst estimates of $45.68 million. During the same quarter last year, the company earned $0.25 EPS. The company’s revenue was up 28.5% on a year-over-year basis. On average, equities analysts expect that Wingstop will post 0.74 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $0.36 dividend on an annualized basis and a yield of 0.45%. Wingstop’s dividend payout ratio (DPR) is presently 42.86%.

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About Wingstop

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand name. Its restaurants offer cooked-to-order, hand-sauced, and tossed chicken wings. As of December 29, 2018, the company operated approximately 1,252 restaurants in the United States, Mexico, Panama, Singapore, Indonesia, the United Arab Emirates, the United Kingdom, Malaysia, Saudi Arabia, and Colombia.

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