Quantbot Technologies LP Has $464,000 Stock Position in Shake Shack Inc. (NYSE:SHAK)

Quantbot Technologies LP lessened its position in Shake Shack Inc. (NYSE:SHAK) by 91.6% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 4,491 shares of the company’s stock after selling 49,243 shares during the period. Quantbot Technologies LP’s holdings in Shake Shack were worth $464,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC grew its position in Shake Shack by 3.6% in the 3rd quarter. FMR LLC now owns 243,549 shares of the company’s stock valued at $25,137,000 after purchasing an additional 8,512 shares during the period. Truvestments Capital LLC lifted its stake in shares of Shake Shack by 14.5% in the third quarter. Truvestments Capital LLC now owns 10,606 shares of the company’s stock valued at $1,095,000 after buying an additional 1,342 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Shake Shack by 4.8% during the third quarter. Fisher Asset Management LLC now owns 354,114 shares of the company’s stock valued at $36,548,000 after buying an additional 16,097 shares during the last quarter. Larson Financial Group LLC increased its position in shares of Shake Shack by 2.4% during the third quarter. Larson Financial Group LLC now owns 38,859 shares of the company’s stock worth $4,011,000 after acquiring an additional 913 shares in the last quarter. Finally, Algert Global LLC increased its position in shares of Shake Shack by 49.3% during the third quarter. Algert Global LLC now owns 5,640 shares of the company’s stock worth $582,000 after acquiring an additional 1,862 shares in the last quarter. Institutional investors own 86.07% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on SHAK shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $115.00 price target on shares of Shake Shack in a research note on Wednesday, August 28th. Bank of America upped their price target on Shake Shack from $104.00 to $116.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Barclays increased their price target on Shake Shack from $115.00 to $125.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Piper Sandler downgraded shares of Shake Shack from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $121.00 to $114.00 in a report on Monday, August 19th. Finally, Oppenheimer increased their target price on shares of Shake Shack from $122.00 to $135.00 and gave the company an “outperform” rating in a report on Monday, October 28th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $112.94.

Insider Activity at Shake Shack

In related news, CFO Katherine Irene Fogertey sold 321 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $103.93, for a total transaction 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. The trade was a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel Harris Meyer sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $110.08, for a total transaction of $1,100,800.00. Following the sale, the director now directly owns 460,337 shares in the company, valued at $50,673,896.96. This trade represents a 2.13 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,112 shares of company stock worth $7,623,215. Corporate insiders own 9.73% of the company’s stock.

Shake Shack Stock Down 0.9 %

SHAK stock opened at $132.34 on Wednesday. Shake Shack Inc. has a fifty-two week low of $60.84 and a fifty-two week high of $135.76. The stock has a fifty day moving average of $117.61 and a 200-day moving average of $102.82. The company has a market capitalization of $5.62 billion, a price-to-earnings ratio of 778.47, a PEG ratio of 3.03 and a beta of 1.85. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.98 and a current ratio of 2.01.

Shake Shack (NYSE:SHAK) last issued its earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $316.03 million. During the same quarter last year, the business earned $0.17 earnings per share. The company’s quarterly revenue was up 14.7% on a year-over-year basis. As a group, equities research analysts predict that Shake Shack Inc. will post 0.82 earnings per share for the current year.

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.