Wasatch Advisors LP Has $42.57 Million Holdings in Shake Shack Inc. (NYSE:SHAK)

Wasatch Advisors LP reduced its position in Shake Shack Inc. (NYSE:SHAK) by 26.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 409,176 shares of the company’s stock after selling 148,519 shares during the period. Wasatch Advisors LP’s holdings in Shake Shack were worth $42,567,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Shake Shack during the 1st quarter worth about $25,000. GAMMA Investing LLC acquired a new position in Shake Shack in the 4th quarter valued at approximately $32,000. Ramirez Asset Management Inc. acquired a new position in Shake Shack in the 3rd quarter valued at approximately $35,000. AdvisorShares Investments LLC raised its holdings in Shake Shack by 533.8% in the 4th quarter. AdvisorShares Investments LLC now owns 1,781 shares of the company’s stock valued at $132,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new position in shares of Shake Shack in the 1st quarter worth approximately $291,000. Institutional investors own 86.07% of the company’s stock.

Shake Shack Price Performance

NYSE:SHAK opened at $85.33 on Wednesday. Shake Shack Inc. has a 52-week low of $52.79 and a 52-week high of $111.29. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.99 and a current ratio of 2.03. The company has a market cap of $3.61 billion, a P/E ratio of 155.15, a P/E/G ratio of 3.56 and a beta of 1.76. The stock’s 50-day simple moving average is $96.48 and its 200 day simple moving average is $91.06.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. Shake Shack had a return on equity of 4.86% and a net margin of 2.08%. The business had revenue of $290.50 million during the quarter, compared to analysts’ expectations of $291.00 million. During the same quarter last year, the company posted ($0.01) earnings per share. Shake Shack’s quarterly revenue was up 14.7% on a year-over-year basis. As a group, sell-side analysts forecast that Shake Shack Inc. will post 0.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SHAK has been the subject of a number of recent analyst reports. Truist Financial raised their price target on Shake Shack from $124.00 to $125.00 and gave the company a “buy” rating in a report on Monday. Robert W. Baird raised their price target on Shake Shack from $102.00 to $105.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. TD Cowen reiterated a “buy” rating and issued a $125.00 price objective on shares of Shake Shack in a research report on Thursday, June 13th. UBS Group increased their price objective on Shake Shack from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Finally, Oppenheimer increased their price objective on Shake Shack from $108.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Shake Shack has a consensus rating of “Hold” and an average target price of $99.22.

Insider Buying and Selling

In other news, Director Jeffrey Flug sold 304 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $103.01, for a total transaction of $31,315.04. Following the completion of the sale, the director now owns 3,754 shares in the company, valued at $386,699.54. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 9.73% of the stock is currently owned by corporate insiders.

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.