Traders Purchase High Volume of Put Options on Wingstop (WING)
Wingstop Inc (NASDAQ:WING) was the recipient of some unusual options trading on Friday. Investors purchased 589 put options on the company. This represents an increase of approximately 718% compared to the average daily volume of 72 put options.
Wingstop (NASDAQ:WING) opened at $38.35 on Monday. The firm has a market capitalization of $1,145.18, a PE ratio of 53.26, a price-to-earnings-growth ratio of 2.77 and a beta of 0.69. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of -2.37. Wingstop has a one year low of $24.74 and a one year high of $43.25.
Wingstop (NASDAQ:WING) last announced its earnings results on Thursday, November 2nd. The restaurant operator reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. The business had revenue of $26.03 million for the quarter, compared to analyst estimates of $25.13 million. Wingstop had a negative return on equity of 32.39% and a net margin of 20.70%. The company’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.13 EPS. equities analysts predict that Wingstop will post 0.73 earnings per share for the current fiscal year.
The firm also recently announced a None dividend, which was paid on Tuesday, December 19th. Shareholders of record on Monday, December 4th were paid a $0.07 dividend. The ex-dividend date was Friday, December 1st. This represents a yield of 0.77%. Wingstop’s dividend payout ratio is currently 19.44%.
In other news, insider Flynn Dekker sold 16,350 shares of the company’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $35.77, for a total transaction of $584,839.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael J. Hislop sold 5,000 shares of the company’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $41.03, for a total value of $205,150.00. The disclosure for this sale can be found here. 1.76% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in WING. Teachers Advisors LLC increased its stake in Wingstop by 2.5% in the 1st quarter. Teachers Advisors LLC now owns 25,500 shares of the restaurant operator’s stock worth $721,000 after acquiring an additional 619 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Wingstop by 20.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 90,752 shares of the restaurant operator’s stock valued at $2,566,000 after purchasing an additional 15,478 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its position in shares of Wingstop by 3.2% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 6,810 shares of the restaurant operator’s stock valued at $210,000 after purchasing an additional 210 shares during the last quarter. Great West Life Assurance Co. Can increased its position in shares of Wingstop by 4.5% during the 2nd quarter. Great West Life Assurance Co. Can now owns 41,919 shares of the restaurant operator’s stock valued at $1,295,000 after purchasing an additional 1,800 shares during the last quarter. Finally, Texas Permanent School Fund increased its position in shares of Wingstop by 1.2% during the 2nd quarter. Texas Permanent School Fund now owns 21,156 shares of the restaurant operator’s stock valued at $654,000 after purchasing an additional 258 shares during the last quarter.
A number of research analysts have recently commented on the company. BidaskClub raised Wingstop from a “hold” rating to a “buy” rating in a research report on Tuesday, December 12th. Deutsche Bank initiated coverage on Wingstop in a report on Monday, December 18th. They set a “hold” rating and a $38.00 price objective on the stock. Guggenheim cut Wingstop from a “buy” rating to a “neutral” rating in a report on Wednesday, November 29th. Goldman Sachs Group reissued a “buy” rating and set a $41.00 price objective on shares of Wingstop in a report on Wednesday, November 29th. Finally, Cowen reissued a “buy” rating and set a $41.00 price objective on shares of Wingstop in a report on Friday, November 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $38.00.
Wingstop Inc is franchisor and operator of restaurants that specializes in cooked-to-order, hand-sauced and tossed chicken wings. The Company operates through two segments: Franchise and Company. As of December 31, 2016, the Company offers its guests 11 flavors on bone-in and boneless chicken wings paired with hand-cut, seasoned fries and sides.
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