Louisiana State Employees Retirement System Makes New $1.58 Million Investment in Shake Shack, Inc. $SHAK

Louisiana State Employees Retirement System bought a new position in Shake Shack, Inc. (NYSE:SHAK) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 17,900 shares of the company’s stock, valued at approximately $1,584,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Hilton Head Capital Partners LLC boosted its holdings in Shake Shack by 65.0% in the 1st quarter. Hilton Head Capital Partners LLC now owns 513 shares of the company’s stock valued at $45,000 after purchasing an additional 202 shares during the last quarter. Murphy & Mullick Capital Management Corp lifted its holdings in Shake Shack by 42.5% in the first quarter. Murphy & Mullick Capital Management Corp now owns 738 shares of the company’s stock valued at $65,000 after acquiring an additional 220 shares during the last quarter. SG Americas Securities LLC grew its position in Shake Shack by 35.5% in the first quarter. SG Americas Securities LLC now owns 46,943 shares of the company’s stock worth $4,153,000 after acquiring an additional 12,307 shares during the period. Corient Private Wealth LLC increased its stake in Shake Shack by 216.9% during the fourth quarter. Corient Private Wealth LLC now owns 13,076 shares of the company’s stock worth $1,061,000 after acquiring an additional 8,950 shares during the last quarter. Finally, Alberta Investment Management Corp purchased a new stake in Shake Shack in the fourth quarter valued at $1,201,000. Institutional investors and hedge funds own 86.07% of the company’s stock.

Insider Buying and Selling at Shake Shack

In related news, Director Sumaiya Balbale bought 4,068 shares of the stock in a transaction dated Friday, May 15th. The stock was acquired at an average price of $61.42 per share, for a total transaction of $249,856.56. Following the acquisition, the director owned 13,407 shares in the company, valued at approximately $823,457.94. This represents a 43.56% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Josh Silverman acquired 8,290 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was bought at an average price of $60.38 per share, with a total value of $500,550.20. Following the purchase, the director directly owned 8,290 shares of the company’s stock, valued at $500,550.20. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders bought 50,616 shares of company stock worth $3,109,782. 8.32% of the stock is currently owned by company insiders.

Shake Shack Stock Up 1.6%

SHAK stock opened at $56.93 on Thursday. The company’s 50 day moving average price is $67.66 and its 200 day moving average price is $83.04. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of 58.09, a PEG ratio of 2.48 and a beta of 1.63. Shake Shack, Inc. has a fifty-two week low of $51.60 and a fifty-two week high of $144.65. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.66 and a current ratio of 1.69.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on SHAK shares. Wolfe Research assumed coverage on Shake Shack in a research report on Monday, March 9th. They set an “outperform” rating and a $118.00 price objective for the company. Stifel Nicolaus upgraded shares of Shake Shack from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $105.00 to $85.00 in a report on Friday, May 8th. BTIG Research reaffirmed a “neutral” rating on shares of Shake Shack in a research report on Wednesday, May 20th. Raymond James Financial lowered Shake Shack from a “strong-buy” rating to an “outperform” rating and cut their target price for the company from $125.00 to $85.00 in a research report on Wednesday, June 3rd. Finally, Zacks Research upgraded Shake Shack from a “strong sell” rating to a “hold” rating in a research report on Monday, March 9th. Fifteen equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $91.00.

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.