After the close, Wingstop (WING) priced a secondary offering of 5,750,000 shares at $24. The offering was a 750,000 share increase over the proposed amount. In addition, the selling shareholders granted the option for another 862,500 shares. Wingstop won't receive any proceeds from the deal that amounts to roughly 23% of the outstanding shares. The good news is that the deal priced near the closing price of $24.25 and the new shareholders won't face the same pressure from insiders dumping shares in the future. The bad news is that insiders were so willing to dump shares at the first opportunity with the stock trading close to the post-IPO lows. The stock trades at nearly 40x forward earnings with revenues only tagged to grow 14% this year. Sell along with the insiders that can't bail quick enough. Disclosure: No position