Nicholas Investment Partners LP Acquires New Stake in Shake Shack Inc. (NYSE:SHAK)

Nicholas Investment Partners LP bought a new position in Shake Shack Inc. (NYSE:SHAK) in the fourth quarter, Holdings Channel reports. The firm bought 76,190 shares of the company’s stock, valued at approximately $9,889,000.

Several other hedge funds have also recently made changes to their positions in the company. Nemes Rush Group LLC bought a new position in Shake Shack in the 4th quarter worth approximately $29,000. Harvest Fund Management Co. Ltd bought a new position in shares of Shake Shack in the fourth quarter worth $32,000. Transcendent Capital Group LLC purchased a new position in shares of Shake Shack in the fourth quarter valued at $52,000. R Squared Ltd purchased a new stake in Shake Shack during the 4th quarter worth about $56,000. Finally, Montag & Caldwell LLC purchased a new stake in Shake Shack during the 4th quarter worth about $68,000. 86.07% of the stock is currently owned by institutional investors.

Shake Shack Price Performance

SHAK opened at $113.90 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.97 and a quick ratio of 1.98. The stock’s 50 day simple moving average is $89.52 and its 200 day simple moving average is $111.09. The firm has a market cap of $4.84 billion, a price-to-earnings ratio of 495.22 and a beta of 1.61. Shake Shack Inc. has a 1 year low of $72.93 and a 1 year high of $139.89.

Shake Shack (NYSE:SHAK) last posted its earnings results on Thursday, May 1st. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.02). Shake Shack had a return on equity of 8.40% and a net margin of 0.81%. The business had revenue of $320.90 million during the quarter, compared to the consensus estimate of $330.24 million. During the same period in the previous year, the business earned $0.13 earnings per share. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, analysts predict that Shake Shack Inc. will post 1.26 earnings per share for the current year.

Analysts Set New Price Targets

SHAK has been the topic of several analyst reports. Stifel Nicolaus decreased their price target on Shake Shack from $120.00 to $97.00 and set a “hold” rating on the stock in a research report on Tuesday, April 15th. JPMorgan Chase & Co. lowered their target price on shares of Shake Shack from $105.00 to $100.00 and set an “underweight” rating on the stock in a research note on Monday, May 5th. Wells Fargo & Company started coverage on shares of Shake Shack in a report on Wednesday, March 26th. They issued an “equal weight” rating and a $95.00 price target for the company. Barclays decreased their price target on shares of Shake Shack from $155.00 to $100.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Finally, UBS Group reduced their target price on Shake Shack from $140.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Shake Shack currently has an average rating of “Moderate Buy” and an average price target of $113.95.

About Shake Shack

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, chicken, hot dogs, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. The company was founded in 2001 and is headquartered in New York, New York.