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Banking & Finance

Kornitzer Capital Management Inc. KS Trims Stake in Wingstop Inc. $WING

·15 Aug
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Kornitzer Capital Management Inc. KS significantly reduced its stake in Wingstop Inc. (NASDAQ:WING) by 65.4% in the second quarter, selling 12,300 shares and retaining 6,500 shares worth $1.13 million. Despite this reduction, Wingstop reported strong quarterly earnings of $1.18 per share, exceeding estimates, though revenue of $185.56 million missed expectations. The company also increased its quarterly dividend to $0.33 per share, and analysts maintain a "Moderate Buy" consensus with an average price target of $241.81.

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