Olympiad Research LP Invests $398,000 in Wingstop Inc. (NASDAQ:WING)

23 Feb 2025, 10:18 by Danessa Lincoln · The Markets Daily

Olympiad Research LP bought a new position in shares of Wingstop Inc. (NASDAQ:WING – Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,399 shares of the restaurant operator’s stock, valued at approximately $398,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Ieq Capital LLC lifted its holdings in shares of Wingstop by 777.2% during the fourth quarter. Ieq Capital LLC now owns 17,789 shares of the restaurant operator’s stock worth $5,056,000 after buying an additional 15,761 shares in the last quarter. Alberta Investment Management Corp lifted its holdings in shares of Wingstop by 35.0% during the fourth quarter. Alberta Investment Management Corp now owns 13,836 shares of the restaurant operator’s stock worth $3,932,000 after buying an additional 3,588 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Wingstop by 2.7% during the fourth quarter. New York State Common Retirement Fund now owns 81,393 shares of the restaurant operator’s stock worth $23,132,000 after buying an additional 2,178 shares in the last quarter. Kornitzer Capital Management Inc. KS lifted its holdings in shares of Wingstop by 36.6% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 21,551 shares of the restaurant operator’s stock worth $6,125,000 after buying an additional 5,775 shares in the last quarter. Finally, CIBC Asset Management Inc raised its stake in Wingstop by 5.5% in the fourth quarter. CIBC Asset Management Inc now owns 897 shares of the restaurant operator’s stock valued at $255,000 after purchasing an additional 47 shares in the last quarter.

Insider Transactions at Wingstop

In related news, SVP Raj Kapoor sold 266 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $324.38, for a total value of $86,285.08. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on WING shares. Barclays dropped their price target on Wingstop from $359.00 to $315.00 and set an “overweight” rating for the company in a research note on Thursday. Raymond James reaffirmed an “outperform” rating and issued a $330.00 price target (down previously from $375.00) on shares of Wingstop in a research note on Tuesday, January 28th. UBS Group dropped their price target on Wingstop from $330.00 to $300.00 and set a “neutral” rating for the company in a research note on Thursday. Northcoast Research downgraded Wingstop from a “buy” rating to a “neutral” rating in a research note on Friday. Finally, Benchmark dropped their price target on Wingstop from $340.00 to $325.00 and set a “buy” rating for the company in a research note on Thursday. Seven 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 currently has a consensus rating of “Moderate Buy” and an average target price of $367.05.

Read Our Latest Research Report on WING

Wingstop Trading Down 5.3 %

NASDAQ:WING opened at $234.02 on Friday. The stock has a market cap of $6.71 billion, a P/E ratio of 63.08, a price-to-earnings-growth ratio of 2.27 and a beta of 1.81. The stock’s 50-day moving average is $288.89 and its 200-day moving average is $340.27. Wingstop Inc. has a 1-year low of $232.19 and a 1-year high of $433.86.

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

Wingstop Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Friday, March 7th. Wingstop’s dividend payout ratio (DPR) is currently 29.11%.

Wingstop Company Profile

(Free Report)