Wasatch Advisors LP Has $17.85 Million Position in Shake Shack, Inc. $SHAK

Wasatch Advisors LP reduced its stake in Shake Shack, Inc. (NYSE:SHAK) by 21.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 318,622 shares of the company’s stock after selling 88,661 shares during the quarter. Wasatch Advisors LP’s holdings in Shake Shack were worth $17,849,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Swedbank AB bought a new stake in Shake Shack during the 4th quarter worth about $84,092,000. Adage Capital Partners GP L.L.C. acquired a new position in shares of Shake Shack in the 4th quarter valued at $40,829,000. Wellington Management Group LLP boosted its holdings in Shake Shack by 21.0% during the third quarter. Wellington Management Group LLP now owns 2,590,911 shares of the company’s stock worth $242,535,000 after buying an additional 450,406 shares during the last quarter. Marshall Wace LLP boosted its stake in Shake Shack by 285.2% during the 3rd quarter. Marshall Wace LLP now owns 586,999 shares of the company’s stock worth $54,949,000 after acquiring an additional 434,625 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Shake Shack during the fourth quarter worth $20,455,000. 86.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SHAK shares. Zacks Research upgraded Shake Shack from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 5th. Stifel Nicolaus upgraded shares of Shake Shack from a “hold” rating to a “buy” rating and dropped their target price for the stock from $105.00 to $85.00 in a report on Friday, May 8th. Citigroup reaffirmed a “buy” rating on shares of Shake Shack in a research note on Wednesday, June 3rd. Barclays reduced their price target on shares of Shake Shack from $118.00 to $96.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Finally, Jefferies Financial Group restated a “hold” rating and set a $66.00 price objective on shares of Shake Shack in a report on Tuesday, June 2nd. Fifteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Shake Shack has a consensus rating of “Moderate Buy” and an average target price of $89.74.

Insiders Place Their Bets

In other Shake Shack news, Director Jeffrey Flug purchased 1,000 shares of the stock in a transaction on Friday, May 15th. The shares were purchased at an average cost of $61.30 per share, for a total transaction of $61,300.00. Following the purchase, the director owned 5,470 shares of the company’s stock, valued at approximately $335,311. This represents a 22.37% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel Harris Meyer purchased 32,258 shares of the business’s stock in a transaction on Friday, May 15th. The shares were acquired at an average cost of $61.88 per share, for a total transaction of $1,996,125.04. Following the completion of the transaction, the director directly owned 378,670 shares in the company, valued at approximately $23,432,099.60. This represents a 9.31% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 50,616 shares of company stock valued at $3,109,782 in the last quarter. Company insiders own 8.32% of the company’s stock.

Shake Shack Trading Up 1.6%

NYSE SHAK opened at $72.91 on Thursday. Shake Shack, Inc. has a 52 week low of $51.60 and a 52 week high of $109.68. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.64 and a current ratio of 1.67. The stock’s 50 day moving average price is $59.45 and its two-hundred day moving average price is $77.35. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of 77.56, a PEG ratio of 7.86 and a beta of 1.63.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.12. The company had revenue of $417.62 million during the quarter, compared to analysts’ expectations of $417.18 million. Shake Shack had a net margin of 2.56% and a return on equity of 9.29%. The business’s quarterly revenue was up 17.2% on a year-over-year basis. During the same period last year, the business earned $0.44 EPS. As a group, analysts anticipate that Shake Shack, Inc. will post 1.13 earnings per share for the current fiscal year.

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.