Point72 DIFC Ltd Has $518,000 Stake in Shake Shack Inc. (NYSE:SHAK)

Point72 DIFC Ltd boosted its position in Shake Shack Inc. (NYSE:SHAK) by 121.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,753 shares of the company’s stock after purchasing an additional 3,159 shares during the period. Point72 DIFC Ltd’s holdings in Shake Shack were worth $518,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SHAK. Allspring Global Investments Holdings LLC bought a new position in shares of Shake Shack in the 1st quarter worth about $25,000. Quest Partners LLC acquired a new position in Shake Shack in the second quarter valued at approximately $38,000. Covestor Ltd boosted its holdings in shares of Shake Shack by 32,150.0% during the 1st quarter. Covestor Ltd now owns 645 shares of the company’s stock worth $67,000 after buying an additional 643 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Shake Shack during the 1st quarter worth approximately $97,000. Finally, CWM LLC increased its stake in shares of Shake Shack by 24.7% in the 2nd quarter. CWM LLC now owns 1,046 shares of the company’s stock valued at $94,000 after acquiring an additional 207 shares in the last quarter. 86.07% of the stock is owned by institutional investors and hedge funds.

Shake Shack Stock Performance

Shares of NYSE SHAK opened at $105.75 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.06 and a quick ratio of 2.03. Shake Shack Inc. has a 1 year low of $52.79 and a 1 year high of $111.29. The firm has a fifty day moving average price of $98.41 and a 200-day moving average price of $97.48. The stock has a market cap of $4.49 billion, a PE ratio of 192.28, a price-to-earnings-growth ratio of 3.20 and a beta of 1.83.

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

Insider Transactions at Shake Shack

In other Shake Shack news, Director Daniel Harris Meyer sold 10,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 470,437 shares of the company’s stock, valued at approximately $51,860,974.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other 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 completion of the transaction, the director now directly owns 470,437 shares of the company’s stock, valued at approximately $51,860,974.88. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jeffrey Flug sold 304 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $90.39, for a total value of $27,478.56. Following the sale, the director now 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 three months, insiders have sold 12,213 shares of company stock worth $1,311,175. 9.73% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SHAK shares. The Goldman Sachs Group raised their price objective 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. Morgan Stanley lowered their target price on Shake Shack from $108.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Capital One Financial started coverage on shares of Shake Shack in a research note on Monday, July 29th. They issued an “overweight” rating and a $95.00 target price on the stock. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $102.00 price target (down previously from $105.00) on shares of Shake Shack in a report on Tuesday. Finally, Piper Sandler cut Shake Shack from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $121.00 to $114.00 in a research note on Monday, August 19th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $107.39.

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.