Insider Buying: Shake Shack (NYSE:SHAK) Director Acquires $61,300.00 in Stock

Shake Shack, Inc. (NYSE:SHAK) Director Jeffrey Flug bought 1,000 shares of the stock in a transaction dated Friday, May 15th. The stock was bought at an average cost of $61.30 per share, with a total value of $61,300.00. Following the purchase, the director owned 5,470 shares in the company, valued at $335,311. The trade was a 22.37% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Shake Shack Trading Down 1.0%

NYSE SHAK opened at $63.45 on Thursday. Shake Shack, Inc. has a 1-year low of $59.49 and a 1-year high of $144.65. The company has a current ratio of 1.69, a quick ratio of 1.66 and a debt-to-equity ratio of 0.45. The stock has a 50-day moving average of $88.39 and a 200-day moving average of $89.23. The firm has a market cap of $2.71 billion, a PE ratio of 64.74, a price-to-earnings-growth ratio of 2.65 and a beta of 1.78.

Shake Shack (NYSE:SHAK) last released its earnings results on Thursday, May 7th. The company reported $0.00 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.11). Shake Shack had a net margin of 2.76% and a return on equity of 9.62%. The company had revenue of $366.74 million during the quarter, compared to the consensus estimate of $372.43 million. During the same period last year, the firm posted $0.14 EPS. The company’s revenue was up 14.3% on a year-over-year basis. As a group, sell-side analysts forecast that Shake Shack, Inc. will post 1.24 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Divisadero Street Capital Management LP raised its position in shares of Shake Shack by 407.8% in the 3rd quarter. Divisadero Street Capital Management LP now owns 56,985 shares of the company’s stock worth $5,334,000 after acquiring an additional 45,762 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Shake Shack in the 3rd quarter worth approximately $8,416,000. Public Sector Pension Investment Board raised its position in shares of Shake Shack by 14.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 156,998 shares of the company’s stock worth $14,697,000 after acquiring an additional 19,889 shares in the last quarter. 12 West Capital Management LP raised its position in shares of Shake Shack by 13.6% in the 3rd quarter. 12 West Capital Management LP now owns 1,753,595 shares of the company’s stock worth $164,154,000 after acquiring an additional 210,000 shares in the last quarter. Finally, CI Investments Inc. raised its position in shares of Shake Shack by 34.1% in the 3rd quarter. CI Investments Inc. now owns 91,061 shares of the company’s stock worth $8,524,000 after acquiring an additional 23,133 shares in the last quarter. Institutional investors own 86.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their target price on Shake Shack from $100.00 to $85.00 and set a “neutral” rating for the company in a research note on Friday, May 8th. Oppenheimer set a $100.00 target price on Shake Shack in a research note on Friday, May 8th. Raymond James Financial set a $140.00 target price on Shake Shack in a research note on Wednesday, January 21st. Mizuho set a $100.00 target price on Shake Shack in a research note on Friday, May 8th. Finally, Wolfe Research started coverage on Shake Shack in a research report on Monday, March 9th. They set an “outperform” rating and a $118.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $107.08.

About Shake Shack

Shake Shack, Inc (NYSE: SHAK) is a publicly traded hospitality company known for its modern take on the classic American roadside burger stand. The company operates a chain of quick-casual restaurants offering premium hamburgers, hot dogs, crinkle-cut fries, frozen custard, milkshakes and a curated selection of beer and wine. Shake Shack emphasizes high-quality ingredients, including 100% all-natural Angus beef with no hormones or antibiotics, and works with local suppliers where possible to maintain its commitment to fresh, responsibly sourced food.

Shake Shack traces its origins to a hot dog cart opened in New York City’s Madison Square Park in 2001 by Danny Meyer’s Union Square Hospitality Group.