Insider Buying: Shake Shack (NYSE:SHAK) Director Buys $249,856.56 in Stock

Shake Shack, Inc. (NYSE:SHAK) Director Sumaiya Balbale bought 4,068 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was purchased at an average price of $61.42 per share, with a total value of $249,856.56. Following the completion of the purchase, the director owned 13,407 shares in the company, valued at approximately $823,457.94. This trade represents a 43.56% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Shake Shack Stock Performance

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

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SHAK shares. Wells Fargo & Company reduced their price objective on shares of Shake Shack from $100.00 to $80.00 and set an “equal weight” rating for the company in a research report on Friday, May 8th. BNP Paribas Exane reduced their price objective on shares of Shake Shack from $124.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, May 8th. Barclays reduced their price objective on shares of Shake Shack from $118.00 to $96.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Zacks Research upgraded shares of Shake Shack from a “strong sell” rating to a “hold” rating in a research report on Monday, March 9th. Finally, Guggenheim reduced their price objective on shares of Shake Shack from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, May 11th. 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 company’s stock. Based on data from MarketBeat, Shake Shack presently has a consensus rating of “Moderate Buy” and an average price target of $107.08.

Institutional Investors Weigh In On Shake Shack

A number of hedge funds have recently modified their holdings of SHAK. Hilton Head Capital Partners LLC acquired a new stake in shares of Shake Shack in the fourth quarter valued at about $25,000. Geneos Wealth Management Inc. acquired a new stake in shares of Shake Shack in the first quarter valued at about $26,000. Assetmark Inc. raised its position in shares of Shake Shack by 457.6% in the fourth quarter. Assetmark Inc. now owns 368 shares of the company’s stock valued at $30,000 after buying an additional 302 shares during the last quarter. UMB Bank n.a. raised its position in shares of Shake Shack by 42.2% in the fourth quarter. UMB Bank n.a. now owns 391 shares of the company’s stock valued at $32,000 after buying an additional 116 shares during the last quarter. Finally, Murphy & Mullick Capital Management Corp raised its position in shares of Shake Shack by 68.5% in the third quarter. Murphy & Mullick Capital Management Corp now owns 418 shares of the company’s stock valued at $38,000 after buying an additional 170 shares during the last quarter. 86.07% of the stock is currently owned by institutional investors and hedge funds.

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.