Reasons for the Surge of Wingstop (WING) in Q4

TimesSquare Capital Management, an equity investment management company, released its “U.S. Small Cap Growth Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the quarter the fund returned 9.15% (net), compared to a 12.75% return for the Russell 2000 Growth Index. For the year, the fund returned 15.96% (net) compared to 18.66% for the index. In addition, please check the fund’s top five holdings to know its best picks in 2023.

TimesSquare Capital U.S. Small Cap Growth Strategy featured stocks like Wingstop Inc. (NASDAQ:WING) in the fourth quarter 2023 investor letter. Headquartered in Addison, Texas, Wingstop Inc. (NASDAQ:WING) is a restaurant company that operates under the brand name Wingstop. On March 20, 2024, Wingstop Inc. (NASDAQ:WING) stock closed at $348.23 per share. One-month return of Wingstop Inc. (NASDAQ:WING) was 4.24%, and its shares gained 88.99% of their value over the last 52 weeks. Wingstop Inc. (NASDAQ:WING) has a market capitalization of $10.216 billion.

TimesSquare Capital U.S. Small Cap Growth Strategy stated the following regarding Wingstop Inc. (NASDAQ:WING) in its fourth quarter 2023 investor letter:

“Our preferences in the Consumer-oriented sectors lean toward value-oriented or specialty retailers, franchise models, or premium brands. Flying 41% higher was Wingstop Inc. (NASDAQ:WING), the franchisor and operator of quick service restaurants for cooked-to-order chicken wings. Revenues and earnings leapt above expectations. Transactions increased meaningfully, including significant growth of digital sales. At the same time, chicken costs decreased. That led Wingstop’s management to increase its guidance for the balance of the year and we trimmed our position.”

Customers savoring boneless wings at a bustling restaurant owned by the company.

Wingstop Inc. (NASDAQ:WING) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Wingstop Inc. (NASDAQ:WING) was held by 32 hedge fund portfolios, up from 28 in the previous quarter, according to our database.

We discussed Wingstop Inc. (NASDAQ:WING) in another article and shared Artisan Partners’ views on the company. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.