Los Angeles Capital Management LLC Sells 7,030 Shares of Shake Shack Inc. (NYSE:SHAK)

Los Angeles Capital Management LLC lessened its position in shares of Shake Shack Inc. (NYSE:SHAK) by 49.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,152 shares of the company’s stock after selling 7,030 shares during the period. Los Angeles Capital Management LLC’s holdings in Shake Shack were worth $738,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of SHAK. Allspring Global Investments Holdings LLC acquired a new position in shares of Shake Shack in the 1st quarter valued at about $25,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Shake Shack in the third quarter valued at approximately $41,000. Quest Partners LLC bought a new position in shares of Shake Shack during the 2nd quarter worth approximately $38,000. Kimelman & Baird LLC bought a new stake in shares of Shake Shack in the 2nd quarter valued at $45,000. Finally, Covestor Ltd lifted its position in shares of Shake Shack by 32,150.0% during the 1st quarter. Covestor Ltd now owns 645 shares of the company’s stock valued at $67,000 after acquiring an additional 643 shares during the period. Institutional investors and hedge funds own 86.07% of the company’s stock.

Shake Shack Trading Down 2.1 %

NYSE SHAK opened at $121.42 on Friday. The stock has a market capitalization of $5.16 billion, a price-to-earnings ratio of 714.24, a PEG ratio of 2.92 and a beta of 1.81. The business’s fifty day moving average is $111.66 and its 200-day moving average is $100.87. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.01 and a quick ratio of 1.98. Shake Shack Inc. has a one year low of $59.51 and a one year high of $134.90.

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 analysts’ consensus estimates of $0.20 by $0.05. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The firm had revenue of $316.92 million for the quarter, compared to analysts’ expectations of $316.03 million. The company’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.17 earnings per share. Equities research analysts predict that Shake Shack Inc. will post 0.81 EPS for the current year.

Insider Buying and Selling at Shake Shack

In other Shake Shack news, Director Daniel Harris Meyer sold 22,691 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $124.47, for a total transaction of $2,824,348.77. Following the sale, the director now owns 437,646 shares of the company’s stock, valued at $54,473,797.62. The trade was a 4.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Katherine Irene Fogertey sold 321 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $103.93, for a total value of $33,361.53. Following the completion of the transaction, the chief financial officer now owns 36,180 shares of the company’s stock, valued at approximately $3,760,187.40. This represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 63,433 shares of company stock valued at $7,654,856. Company insiders own 9.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on SHAK. Truist Financial raised their price target on shares of Shake Shack from $127.00 to $144.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Oppenheimer upped their price target on Shake Shack from $122.00 to $135.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $102.00 price objective (down previously from $105.00) on shares of Shake Shack in a research note on Tuesday, September 24th. The Goldman Sachs Group upped 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. Finally, Capital One Financial started coverage on Shake Shack in a report on Monday, July 29th. They issued an “overweight” rating and a $95.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $112.94.

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.