Shake Shack (NYSE:SHAK) Director Acquires $500,550.20 in Stock

Shake Shack, Inc. (NYSE:SHAK) Director Josh Silverman acquired 8,290 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was purchased at an average price of $60.38 per share, with a total value of $500,550.20. Following the completion of the transaction, the director directly owned 8,290 shares of the company’s stock, valued at $500,550.20. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Shake Shack Price Performance

Shares of NYSE:SHAK opened at $63.45 on Thursday. The company has a 50 day moving average of $88.39 and a 200 day moving average of $89.23. The company has a current ratio of 1.69, a quick ratio of 1.66 and a debt-to-equity ratio of 0.45. The stock has a market cap of $2.71 billion, a P/E ratio of 64.74, a P/E/G ratio of 2.65 and a beta of 1.78. Shake Shack, Inc. has a 12 month low of $59.49 and a 12 month high of $144.65.

Shake Shack (NYSE:SHAK) last posted its earnings results on Thursday, May 7th. The company reported $0.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.11). The firm had revenue of $366.74 million during the quarter, compared to analysts’ expectations of $372.43 million. Shake Shack had a return on equity of 9.62% and a net margin of 2.76%.The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.14 earnings per share. As a group, sell-side analysts forecast that Shake Shack, Inc. will post 1.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Barclays decreased their target price on Shake Shack from $118.00 to $96.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Wall Street Zen downgraded Shake Shack from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 16th. Zacks Research raised Shake Shack from a “strong sell” rating to a “hold” rating in a report on Monday, March 9th. Morgan Stanley reaffirmed an “overweight” rating on shares of Shake Shack in a research note on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $117.00 target price on shares of Shake Shack in a research report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Shake Shack has a consensus rating of “Moderate Buy” and an average price target of $107.08.

Hedge Funds Weigh In On Shake Shack

Hedge funds and other institutional investors have recently modified their holdings of the company. Hilton Head Capital Partners LLC purchased a new position in shares of Shake Shack during the 4th quarter valued at about $25,000. Geneos Wealth Management Inc. purchased a new stake in Shake Shack in the first quarter worth approximately $26,000. Assetmark Inc. boosted its stake in Shake Shack by 457.6% in the fourth quarter. Assetmark Inc. now owns 368 shares of the company’s stock worth $30,000 after buying an additional 302 shares in the last quarter. UMB Bank n.a. grew its position in Shake Shack by 42.2% during the fourth quarter. UMB Bank n.a. now owns 391 shares of the company’s stock valued at $32,000 after acquiring an additional 116 shares during the last quarter. Finally, Murphy & Mullick Capital Management Corp grew its position in Shake Shack by 68.5% during the third quarter. Murphy & Mullick Capital Management Corp now owns 418 shares of the company’s stock valued at $38,000 after acquiring an additional 170 shares during the last quarter. 86.07% of the stock is currently owned by hedge funds and other institutional investors.

Shake Shack Company Profile

Shake Shack, Inc (NYSE: SHAK) is a publicly traded hospitality company known for its modern take on the classic American roadside burger stand. The company operates a chain of quick-casual restaurants offering premium hamburgers, hot dogs, crinkle-cut fries, frozen custard, milkshakes and a curated selection of beer and wine. Shake Shack emphasizes high-quality ingredients, including 100% all-natural Angus beef with no hormones or antibiotics, and works with local suppliers where possible to maintain its commitment to fresh, responsibly sourced food.

Shake Shack traces its origins to a hot dog cart opened in New York City’s Madison Square Park in 2001 by Danny Meyer’s Union Square Hospitality Group.