The government requires hedge funds and wealthy investors with over a certain portfolio size to file a report that shows their positions at the end of every quarter. Even though it isn’t the intention, these filings level the playing field for ordinary investors. The latest round of 13F filings discloses the funds’ positions on September 30. We at Insider Monkey have made an extensive database of more than 700 of those elite funds and prominent investors’ filings. In this article, we analyze how these elite funds and prominent investors traded Wingstop Inc (NASDAQ:WING) based on those filings.
Wingstop Inc (NASDAQ:WING) was in 10 hedge funds’ portfolios at the end of the third quarter of 2015. WING has seen a decrease in support from the world’s most elite money managers of late. There were 14 hedge funds in our database with WING holdings at the end of the previous quarter. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as Manchester United PLC (NYSE:MANU), JinkoSolar Holding Co., Ltd. (NYSE:JKS), and CVR Partners LP (NYSE:UAN) to gather more data points.
At the moment there are plenty of methods investors can use to analyze stocks. A pair of the less known methods are hedge fund and insider trading signals. We have shown that, historically, those who follow the best picks of the top money managers can beat their index-focused peers by a solid amount (see the details here).
Keeping this in mind, let’s take a gander at the recent action encompassing Wingstop Inc (NASDAQ:WING).
How are hedge funds trading Wingstop Inc (NASDAQ:WING)?
At the Q3’s end, a total of 10 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of -29% from the second quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists a select group of key hedge fund managers who were upping their stakes substantially (or already accumulated large positions).
According to Insider Monkey’s hedge fund database, Passport Capital, managed by John Burbank, holds the largest position in Wingstop Inc (NASDAQ:WING). Passport Capital has a $6.8 million position in the stock, comprising 0.1% of its 13F portfolio. The second largest stake is held by Daniel Lascano’s Lomas Capital Management, with a $3.4 million position; the fund has 0.6% of its 13F portfolio invested in the stock. The remaining members of the smart money that are bullish contain Joel Ramin’s 12 West Capital Management, Richard Driehaus’ Driehaus Capital and Dmitry Balyasny’s Balyasny Asset Management.