Shake Shack Inc. (NYSE:SHAK) Shares Acquired by QRG Capital Management Inc.

QRG Capital Management Inc. grew its position in Shake Shack Inc. (NYSE:SHAK) by 14.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,997 shares of the company’s stock after purchasing an additional 519 shares during the quarter. QRG Capital Management Inc.’s holdings in Shake Shack were worth $413,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hsbc Holdings PLC raised its holdings in shares of Shake Shack by 303.3% in the 2nd quarter. Hsbc Holdings PLC now owns 16,604 shares of the company’s stock valued at $1,460,000 after purchasing an additional 12,487 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Shake Shack in the 1st quarter valued at $653,000. Janney Montgomery Scott LLC acquired a new stake in shares of Shake Shack in the 1st quarter valued at $853,000. CANADA LIFE ASSURANCE Co raised its holdings in shares of Shake Shack by 20.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 37,535 shares of the company’s stock valued at $3,903,000 after purchasing an additional 6,411 shares in the last quarter. Finally, UniSuper Management Pty Ltd acquired a new stake in shares of Shake Shack in the 1st quarter valued at $929,000. 86.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Daniel Harris Meyer sold 30,000 shares of the business’s stock in a transaction dated 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 sale, the director now owns 407,646 shares of the company’s stock, valued at approximately $49,647,206.34. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Daniel Harris Meyer sold 30,000 shares of the business’s stock in a transaction dated 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 sale, the director now owns 407,646 shares of the company’s stock, valued at approximately $49,647,206.34. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Katherine Irene Fogertey sold 321 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $103.93, for a total transaction of $33,361.53. Following the sale, the chief financial officer now directly owns 36,180 shares in the company, valued at approximately $3,760,187.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 73,433 shares of company stock valued at $8,757,256. Corporate insiders own 9.73% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on SHAK. Morgan Stanley dropped their target price on shares of Shake Shack from $108.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. The Goldman Sachs Group increased their target price on shares of Shake Shack from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Barclays increased their target price on shares of Shake Shack from $115.00 to $125.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Truist Financial increased their target price on shares of Shake Shack from $127.00 to $144.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Capital One Financial began coverage on shares of Shake Shack in a research report on Monday, July 29th. They issued an “overweight” rating and a $95.00 target price on the stock. Two research 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $110.00.

Shake Shack Trading Down 0.4 %

Shares of Shake Shack stock opened at $131.33 on Monday. Shake Shack Inc. has a 52-week low of $54.06 and a 52-week high of $134.90. 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 company’s 50-day simple moving average is $108.69 and its 200-day simple moving average is $100.02. The firm has a market cap of $5.58 billion, a price-to-earnings ratio of 772.53, a price-to-earnings-growth ratio of 3.01 and a beta of 1.81.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share (EPS) 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 business had revenue of $316.92 million for the quarter, compared to analyst estimates of $316.03 million. During the same period in the previous year, the business posted $0.17 earnings per share. The business’s revenue was up 14.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Shake Shack Inc. will post 0.81 earnings per share for the current year.

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.