Wingstop (WING) approved the purchase of up to an additional $500M of its outstanding shares of common stock under its existing share repurchase program, effective immediately. This repurchase program follows the substantial completion of purchases of common stock under the inaugural $250M repurchase authorization from August 2023. With this additional repurchase authorization, the company anticipates executing a $250M accelerated share repurchase program that will commence in Q4 2024. Wingstop expects to fund repurchases with existing cash and cash equivalents, including the proceeds from its recently completed $500M financing transaction which closed on December 3.
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Read More on WING:
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- Wingstop upgraded to Buy from Neutral at Goldman Sachs
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- Wingstop price target lowered to $300 from $375 at Piper Sandler
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
