Shake Shack Inc. (NYSE:SHAK) Director Sells $11,005.00 in Stock

Shake Shack Inc. (NYSE:SHAK) Director Daniel Harris Meyer sold 100 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $110.05, for a total transaction of $11,005.00. Following the completion of the transaction, the director now owns 470,337 shares in the company, valued at $51,760,586.85. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Daniel Harris Meyer also recently made the following trade(s):

• On Thursday, August 15th, Daniel Harris Meyer sold 10,000 shares of Shake Shack stock. The shares were sold at an average price of $110.24, for a total transaction of $1,102,400.00.

Shake Shack Trading Down 1.4 %

Shares of SHAK stock opened at $101.73 on Wednesday. Shake Shack Inc. has a 12-month low of $52.79 and a 12-month high of $111.29. The company has a market capitalization of $4.32 billion, a P/E ratio of 184.97, a P/E/G ratio of 3.14 and a beta of 1.83. The firm has a 50-day moving average price of $99.69 and a 200 day moving average price of $97.50. The company has a quick ratio of 2.03, a current ratio of 2.06 and a debt-to-equity ratio of 0.51.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.27 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.27. Shake Shack had a net margin of 2.23% and a return on equity of 5.63%. The firm had revenue of $316.50 million during the quarter, compared to the consensus estimate of $314.37 million. During the same period last year, the firm posted $0.18 EPS. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. Research analysts forecast that Shake Shack Inc. will post 0.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shake Shack

Several institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in Shake Shack by 9.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 801,003 shares of the company’s stock valued at $72,088,000 after purchasing an additional 66,090 shares during the last quarter. Armistice Capital LLC raised its stake in shares of Shake Shack by 69.1% in the second quarter. Armistice Capital LLC now owns 579,904 shares of the company’s stock worth $52,191,000 after acquiring an additional 236,950 shares during the last quarter. Marshall Wace LLP raised its stake in shares of Shake Shack by 101.2% in the second quarter. Marshall Wace LLP now owns 544,336 shares of the company’s stock worth $48,990,000 after acquiring an additional 273,822 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Shake Shack by 41.9% in the second quarter. Renaissance Technologies LLC now owns 437,600 shares of the company’s stock worth $39,384,000 after acquiring an additional 129,200 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Shake Shack by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 300,539 shares of the company’s stock worth $27,048,000 after acquiring an additional 4,201 shares during the last quarter. 86.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SHAK. Barclays raised their price target on shares of Shake Shack from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Piper Sandler lowered shares of Shake Shack from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $121.00 to $114.00 in a research report on Monday, August 19th. Truist Financial restated a “buy” rating and issued a $127.00 price target on shares of Shake Shack in a research report on Wednesday, August 28th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $102.00 price target (down from $105.00) on shares of Shake Shack in a research report on Tuesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $115.00 price target on shares of Shake Shack in a research report on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $107.39.

Shake Shack Company Profile

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.