Algert Global LLC Buys Shares of 3,778 Shake Shack Inc. (NYSE:SHAK)

Algert Global LLC purchased a new stake in Shake Shack Inc. (NYSE:SHAK) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,778 shares of the company’s stock, valued at approximately $340,000.

A number of other hedge funds also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC acquired a new stake in Shake Shack in the 1st quarter valued at approximately $25,000. Quest Partners LLC bought a new stake in shares of Shake Shack during the second quarter valued at about $38,000. Covestor Ltd raised its stake in shares of Shake Shack by 32,150.0% during the first quarter. Covestor Ltd now owns 645 shares of the company’s stock valued at $67,000 after purchasing an additional 643 shares in the last quarter. CWM LLC lifted its holdings in Shake Shack by 24.7% in the second quarter. CWM LLC now owns 1,046 shares of the company’s stock worth $94,000 after purchasing an additional 207 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in Shake Shack in the 1st quarter valued at about $97,000. Institutional investors own 86.07% of the company’s stock.

Insider Buying and Selling

In other Shake Shack news, CFO Katherine Irene Fogertey sold 321 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $95.10, for a total value of $30,527.10. Following the completion of the sale, the chief financial officer now owns 37,143 shares in the company, valued at $3,532,299.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Shake Shack news, CFO Katherine Irene Fogertey sold 321 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $95.10, for a total value of $30,527.10. Following the transaction, the chief financial officer now owns 37,143 shares in the company, valued at $3,532,299.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jeffrey Flug sold 304 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $90.39, for a total value of $27,478.56. Following the sale, the director now directly owns 3,347 shares of the company’s stock, valued at $302,535.33. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,482 shares of company stock worth $2,443,382. 9.73% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on SHAK shares. Piper Sandler downgraded shares of Shake Shack from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $121.00 to $114.00 in a research report on Monday, August 19th. Morgan Stanley cut their target price on Shake Shack from $108.00 to $100.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Truist Financial reiterated a “buy” rating and set a $127.00 price target on shares of Shake Shack in a research report on Wednesday, August 28th. Robert W. Baird upped their price objective on Shake Shack from $93.00 to $105.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, Capital One Financial started coverage on Shake Shack in a research note on Monday, July 29th. They set an “overweight” rating and a $95.00 target price for the company. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $107.39.

Shake Shack Trading Up 0.2 %

NYSE SHAK opened at $108.47 on Wednesday. The firm’s 50 day moving average price is $102.61 and its two-hundred day moving average price is $97.48. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.03 and a current ratio of 2.06. Shake Shack Inc. has a twelve month low of $52.79 and a twelve month high of $111.29. The stock has a market cap of $4.59 billion, a price-to-earnings ratio of 197.22, a PEG ratio of 3.14 and a beta of 1.83.

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

Shake Shack 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.