Short Interest in Wingstop Inc. (NASDAQ:WING) Drops By 17.1%

Wingstop Inc. (NASDAQ:WING) saw a significant decrease in short interest in March. As of March 31st, there was short interest totalling 1,740,000 shares, a decrease of 17.1% from the March 15th total of 2,100,000 shares. Based on an average daily volume of 895,700 shares, the short-interest ratio is currently 1.9 days. Approximately 6.3% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on WING shares. Raymond James reissued an “outperform” rating and set a $330.00 price target (down from $375.00) on shares of Wingstop in a research report on Tuesday, January 28th. Benchmark reduced their price target on shares of Wingstop from $340.00 to $325.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Jefferies Financial Group raised shares of Wingstop from a “hold” rating to a “buy” rating and set a $270.00 price objective on the stock in a research report on Monday, March 31st. Northcoast Research lowered shares of Wingstop from a “buy” rating to a “neutral” rating in a research note on Friday, February 21st. Finally, Wedbush dropped their price target on shares of Wingstop from $390.00 to $355.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Wingstop currently has an average rating of “Moderate Buy” and an average target price of $348.23.

Wingstop Stock Performance

Wingstop stock opened at $218.84 on Monday. The business’s 50-day simple moving average is $235.09 and its 200-day simple moving average is $290.65. Wingstop has a 52 week low of $205.60 and a 52 week high of $433.86. The firm has a market capitalization of $6.11 billion, a PE ratio of 58.99, a PEG ratio of 2.27 and a beta of 2.02.

Wingstop Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were given a $0.27 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.08 annualized dividend and a dividend yield of 0.49%. Wingstop’s dividend payout ratio is 29.11%.

Institutional Investors Weigh In On Wingstop

Hedge funds and other institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its holdings in Wingstop by 521.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 87 shares of the restaurant operator’s stock valued at $25,000 after purchasing an additional 73 shares during the period. CBIZ Investment Advisory Services LLC raised its position in shares of Wingstop by 62.5% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 91 shares of the restaurant operator’s stock valued at $26,000 after buying an additional 35 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Wingstop by 93.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 128 shares of the restaurant operator’s stock valued at $29,000 after buying an additional 62 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Wingstop in the fourth quarter valued at about $30,000. Finally, True Wealth Design LLC grew its position in Wingstop by 62.1% during the fourth quarter. True Wealth Design LLC now owns 141 shares of the restaurant operator’s stock worth $40,000 after buying an additional 54 shares in the last quarter.

Wingstop Company 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.