2,701 Shares in Shake Shack Inc. (NYSE:SHAK) Acquired by Private Advisor Group LLC

Private Advisor Group LLC purchased a new stake in shares of Shake Shack Inc. (NYSE:SHAK) during the third quarter, Holdings Channel.com reports. The firm purchased 2,701 shares of the company’s stock, valued at approximately $279,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in SHAK. Allspring Global Investments Holdings LLC acquired a new position in shares of Shake Shack in the 1st quarter valued at $25,000. Commonwealth Equity Services LLC increased its holdings in shares of Shake Shack by 71.1% in the first quarter. Commonwealth Equity Services LLC now owns 7,973 shares of the company’s stock valued at $829,000 after purchasing an additional 3,313 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Shake Shack by 7.8% in the first quarter. BNP Paribas Financial Markets now owns 41,487 shares of the company’s stock worth $4,316,000 after purchasing an additional 2,996 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Shake Shack during the first quarter worth about $853,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Shake Shack during the first quarter valued at $97,000. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Shake Shack Price Performance

Shares of NYSE SHAK opened at $133.15 on Thursday. The firm has a 50-day simple moving average of $107.45 and a 200-day simple moving average of $99.54. The company has a quick ratio of 1.98, a current ratio of 2.01 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $5.65 billion, a price-to-earnings ratio of 783.24, a price-to-earnings-growth 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.

Shake Shack (NYSE:SHAK) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. The company had revenue of $316.92 million during the quarter, compared to the consensus estimate of $316.03 million. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. Shake Shack’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.17 EPS. On average, equities analysts predict that Shake Shack Inc. will post 0.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Bank of America increased their target price on shares of Shake Shack from $104.00 to $116.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Truist Financial increased their price target on Shake Shack from $127.00 to $144.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Robert W. Baird boosted their price objective on Shake Shack from $93.00 to $105.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Wedbush reaffirmed a “neutral” rating and set a $90.00 target price on shares of Shake Shack in a research note on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $115.00 price target on shares of Shake Shack in a research note on Wednesday, August 28th. 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $110.00.

Insider Activity at Shake Shack

In other Shake Shack news, CFO Katherine Irene Fogertey sold 321 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $98.57, for a total transaction of $31,640.97. Following the transaction, the chief financial officer now owns 36,822 shares of the company’s stock, valued at approximately $3,629,544.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, 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 sale, the director now owns 470,437 shares in the company, valued at approximately $51,860,974.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Katherine Irene Fogertey sold 321 shares of the firm’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 transaction, the chief financial officer now owns 36,822 shares of the company’s stock, valued at $3,629,544.54. 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 90 days, insiders sold 73,433 shares of company stock valued at $8,757,256. 9.73% of the stock is currently owned by insiders.

About Shake Shack

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.