Should You Consider Adding Wingstop (WING) to Your Portfolio?

TimesSquare Capital Management, an equity investment management company, released its “U.S. Small Cap Growth Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy outperformed the Russell 2000 Growth Index and returned 3.28% (net), and the index return was 0.24%. Strength in Industrials, Consumer Staples, Consumer Discretionary, and Information Technology sectors contributed to the strategy’s outperformance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

TimesSquare Capital highlighted stocks like Wingstop Inc. (NASDAQ:WING) in its Q3 2022 investor letter. Headquartered in Addison, Texas, Wingstop Inc. (NASDAQ:WING) is a restaurant company that operates under the brand name Wingstop. On December 19, 2022, Wingstop Inc. (NASDAQ:WING) stock closed at $149.17 per share. One-month return of Wingstop Inc. (NASDAQ:WING) was -5.61%, and its shares lost 12.33% of their value over the last 52 weeks. Wingstop Inc. (NASDAQ:WING) has a market capitalization of $4.463 billion.

TimesSquare Capital made the following comment about Wingstop Inc. (NASDAQ:WING) in its Q3 2022 investor letter:

“The strategy was aided by the Consumer Discretionary sector as well. Boasting a 68% return was Wingstop Inc. (NASDAQ:WING), the franchisor and operator of quick service restaurants for cooked-to-order chicken wings. Though recent revenues lagged expectations, earnings exceeded them on better cost controls. Wingstop plans significant growth with new channels for delivery—such as Uber Eats and DoorDash— and a new chicken sandwich offering. The latter quickly took off, and later in the quarter Wingstop announced it sold four weeks of inventory in only six days.”

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Wingstop Inc. (NASDAQ:WING) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 23 hedge fund portfolios held Wingstop Inc. (NASDAQ:WING) at the end of the third quarter, which was 20 in the previous quarter.

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 Q3 2022 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.