Private Advisor Group LLC Invests $279,000 in Shake Shack Inc. (NYSE:SHAK)

Private Advisor Group LLC purchased a new position in Shake Shack Inc. (NYSE:SHAK) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,701 shares of the company’s stock, valued at approximately $279,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Marshall Wace LLP lifted its holdings in Shake Shack by 101.2% in the second quarter. Marshall Wace LLP now owns 544,336 shares of the company’s stock valued at $48,990,000 after acquiring an additional 273,822 shares during the period. Armistice Capital LLC raised its position in 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 period. Point72 Asset Management L.P. grew its position in shares of Shake Shack by 471.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 255,374 shares of the company’s stock valued at $22,984,000 after acquiring an additional 210,717 shares during the period. Renaissance Technologies LLC increased its position in 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 buying an additional 129,200 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Shake Shack by 9.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 801,003 shares of the company’s stock worth $72,088,000 after acquiring an additional 66,090 shares in the last quarter. Institutional investors own 86.07% of the company’s stock.

Shake Shack Stock Up 5.0 %

Shares of NYSE SHAK opened at $133.15 on Thursday. The stock has a 50 day moving average price of $107.45 and a 200 day moving average price of $99.54. The firm has a market capitalization of $5.65 billion, a price-to-earnings ratio of 783.24, a PEG ratio of 2.84 and a beta of 1.81. Shake Shack Inc. has a 52-week low of $54.06 and a 52-week high of $134.77. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.98 and a current ratio of 2.01.

Shake Shack (NYSE:SHAK) last issued its earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.05. The business had revenue of $316.92 million during the quarter, compared to analysts’ expectations of $316.03 million. Shake Shack had a return on equity of 6.28% and a net margin of 0.68%. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.17 EPS. Sell-side analysts expect that Shake Shack Inc. will post 0.81 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Katherine Irene Fogertey sold 321 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $98.57, for a total value of $31,640.97. Following the completion of the sale, the chief financial officer now owns 36,822 shares in the company, valued at approximately $3,629,544.54. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Katherine Irene Fogertey sold 321 shares of Shake Shack stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $98.57, for a total value of $31,640.97. Following the transaction, the chief financial officer now directly owns 36,822 shares in the company, valued at approximately $3,629,544.54. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Daniel Harris Meyer sold 10,000 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $110.24, for a total value of $1,102,400.00. Following the completion of the transaction, the director now directly owns 470,437 shares of the company’s stock, valued at approximately $51,860,974.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 73,433 shares of company stock worth $8,757,256 in the last three months. Corporate insiders own 9.73% of the company’s stock.

Wall Street Analyst Weigh In

SHAK has been the topic of a number of analyst reports. Oppenheimer lifted their target price on shares of Shake Shack from $122.00 to $135.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $102.00 price objective (down from $105.00) on shares of Shake Shack in a research report on Tuesday, September 24th. The Goldman Sachs Group increased their target price on Shake Shack from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Capital One Financial assumed coverage on Shake Shack in a report on Monday, July 29th. They issued an “overweight” rating and a $95.00 price target on the stock. Finally, Morgan Stanley dropped their price target on Shake Shack from $108.00 to $100.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $110.00.

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.