Shake Shack Inc. (NYSE:SHAK) Shares Sold by Amalgamated Bank

Amalgamated Bank cut its holdings in shares of Shake Shack Inc. (NYSE:SHAK) by 3.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,510 shares of the company’s stock after selling 404 shares during the period. Amalgamated Bank’s holdings in Shake Shack were worth $1,036,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its stake in shares of Shake Shack by 41.9% during the 2nd 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 in the last quarter. Quantbot Technologies LP boosted its position in shares of Shake Shack by 1,524.4% in the 2nd quarter. Quantbot Technologies LP now owns 53,734 shares of the company’s stock valued at $4,836,000 after purchasing an additional 50,426 shares during the period. Dimensional Fund Advisors LP increased its stake 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 purchasing an additional 66,090 shares in the last quarter. Qsemble Capital Management LP acquired a new stake in Shake Shack during the 2nd quarter worth about $661,000. Finally, American Century Companies Inc. lifted its stake in Shake Shack by 18.6% during the second quarter. American Century Companies Inc. now owns 9,577 shares of the company’s stock valued at $862,000 after buying an additional 1,505 shares in the last quarter. Institutional investors and hedge funds own 86.07% of the company’s stock.

Shake Shack Stock Performance

Shares of NYSE SHAK opened at $106.13 on Friday. The business’s 50-day simple moving average is $98.86 and its 200-day simple moving average is $97.54. 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 0.51, a quick ratio of 2.03 and a current ratio of 2.06. The firm has a market cap of $4.49 billion, a price-to-earnings ratio of 192.96, a P/E/G ratio of 3.20 and a beta of 1.83.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.27 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.27. Shake Shack had a net margin of 2.23% and a return on equity of 5.63%. The business had revenue of $316.50 million during the quarter, compared to analysts’ expectations of $314.37 million. During the same period in the previous year, the company earned $0.18 earnings per share. Shake Shack’s revenue for the quarter was up 16.4% on a year-over-year basis. As a group, equities research analysts expect that Shake Shack Inc. will post 0.73 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Daniel Harris Meyer sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $110.24, for a total transaction of $1,102,400.00. Following the completion of the sale, the director now owns 470,437 shares in the company, valued at approximately $51,860,974.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Daniel Harris Meyer sold 10,000 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 470,437 shares in the company, valued at approximately $51,860,974.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jeffrey Flug sold 304 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $90.39, for a total transaction of $27,478.56. Following the completion of the sale, the director now directly owns 3,347 shares of the company’s stock, valued at $302,535.33. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,213 shares of company stock valued at $1,311,175. 9.73% of the stock is owned by insiders.

Analyst Ratings Changes

SHAK has been the topic of a number of recent analyst reports. Morgan Stanley cut their price target on shares of Shake Shack from $108.00 to $100.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. The Goldman Sachs Group increased their target price on Shake Shack from $110.00 to $125.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $115.00 price target on shares of Shake Shack in a report on Wednesday, August 28th. Piper Sandler downgraded Shake Shack from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $121.00 to $114.00 in a research note on Monday, August 19th. Finally, Robert W. Baird lifted their target price on Shake Shack from $93.00 to $105.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Two equities research 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 company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $107.39.

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.