Shake Shack (NYSE:SHAK) Shares Gap Down Following Insider Selling

Shake Shack Inc. (NYSE:SHAK) shares gapped down prior to trading on Monday following insider selling activity. The stock had previously closed at $107.37, but opened at $104.50. Shake Shack shares last traded at $107.16, with a volume of 125,530 shares traded.

Specifically, Director Daniel Harris Meyer sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $110.24, for a total transaction of $1,102,400.00. Following the sale, the director now owns 470,437 shares of the company’s stock, valued at $51,860,974.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Analysts Set New Price Targets

SHAK has been the topic of a number of recent analyst reports. Robert W. Baird increased their target price on shares of Shake Shack from $93.00 to $105.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. The Goldman Sachs Group lifted 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. Truist Financial upped their target price on Shake Shack from $125.00 to $127.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. UBS Group lifted their price target on Shake Shack from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Finally, Barclays increased their price objective on Shake Shack from $108.00 to $110.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Shake Shack currently has a consensus rating of “Hold” and a consensus price target of $106.37.

Shake Shack Stock Down 3.3 %

The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.03 and a current ratio of 2.06. The firm’s fifty day moving average is $90.69 and its 200 day moving average is $95.71. The firm has a market cap of $4.29 billion, a P/E ratio of 184.15, a P/E/G ratio of 3.18 and a beta of 1.75.

Shake Shack (NYSE:SHAK) last issued its earnings results on Thursday, August 1st. The company reported $0.27 EPS for the quarter, hitting 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 during the quarter, compared to the consensus estimate of $314.37 million. During the same quarter in the previous year, the firm earned $0.18 earnings per share. The business’s quarterly revenue was up 16.4% on a year-over-year basis. As a group, equities research analysts anticipate that Shake Shack Inc. will post 0.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Shake Shack

A number of hedge funds have recently added to or reduced their stakes in SHAK. Allspring Global Investments Holdings LLC bought a new position in shares of Shake Shack during the first quarter valued at about $25,000. Quest Partners LLC purchased a new stake in Shake Shack during the second quarter worth about $38,000. GAMMA Investing LLC purchased a new position in Shake Shack in the fourth quarter valued at about $32,000. Kimelman & Baird LLC bought a new position in shares of Shake Shack during the 2nd quarter valued at approximately $45,000. Finally, Covestor Ltd increased its stake in shares of Shake Shack by 32,150.0% during the 1st quarter. Covestor Ltd now owns 645 shares of the company’s stock worth $67,000 after purchasing an additional 643 shares during the last quarter. Institutional investors and hedge funds own 86.07% of the company’s stock.

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.