Insider Selling: Shake Shack Inc. (NYSE:SHAK) Director Sells $3,653,700.00 in Stock

Shake Shack Inc. (NYSE:SHAK) Director Daniel Harris Meyer sold 30,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $121.79, for a total transaction of $3,653,700.00. Following the completion of the sale, the director now directly owns 407,646 shares in the company, valued at $49,647,206.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Daniel Harris Meyer also recently made the following trade(s):

• On Wednesday, October 30th, Daniel Harris Meyer sold 22,691 shares of Shake Shack stock. The shares were sold at an average price of $124.47, for a total transaction of $2,824,348.77.
• On Friday, October 4th, Daniel Harris Meyer sold 10,000 shares of Shake Shack stock. The shares were sold at an average price of $110.08, for a total value of $1,100,800.00.
• On Thursday, September 26th, Daniel Harris Meyer sold 100 shares of Shake Shack stock. The stock was sold at an average price of $110.05, for a total value of $11,005.00.
• On Thursday, August 15th, Daniel Harris Meyer sold 10,000 shares of Shake Shack stock. The shares were sold at an average price of $110.24, for a total value of $1,102,400.00.

Shake Shack Stock Performance

Shares of Shake Shack stock opened at $131.81 on Friday. Shake Shack Inc. has a 52 week low of $54.06 and a 52 week high of $134.90. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.98 and a current ratio of 2.01. The stock has a market capitalization of $5.60 billion, a price-to-earnings ratio of 775.35, a PEG ratio of 2.84 and a beta of 1.81. The firm has a fifty day moving average of $108.05 and a two-hundred day moving average of $99.77.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SHAK. The Goldman Sachs Group boosted their target price on shares of Shake Shack from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Wedbush reaffirmed a “neutral” rating and set a $90.00 price objective on shares of Shake Shack in a research note on Thursday, August 1st. 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. Piper Sandler lowered Shake Shack from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $121.00 to $114.00 in a research report on Monday, August 19th. Finally, Bank of America lifted their price objective on Shake Shack from $104.00 to $116.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Shake Shack has a consensus rating of “Hold” and an average price target of $110.00.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in shares of Shake Shack by 9.0% during the second 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. Armistice Capital LLC lifted its holdings in Shake Shack by 69.1% during 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 in the last quarter. Marshall Wace LLP grew its stake 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. Renaissance Technologies LLC increased its holdings in shares of 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 acquiring an additional 129,200 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Shake Shack by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 300,539 shares of the company’s stock worth $27,048,000 after acquiring an additional 4,201 shares in 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.