Nano Cap New Millennium Growth Fund L P Takes $1.14 Million Position in Shake Shack, Inc. $SHAK

Nano Cap New Millennium Growth Fund L P acquired a new stake in shares of Shake Shack, Inc. (NYSE:SHAK) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,000 shares of the company’s stock, valued at approximately $1,136,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Glenview Trust co lifted its stake in Shake Shack by 1.5% in the second quarter. Glenview Trust co now owns 6,925 shares of the company’s stock worth $974,000 after acquiring an additional 100 shares during the period. Smartleaf Asset Management LLC lifted its stake in Shake Shack by 12.5% in the third quarter. Smartleaf Asset Management LLC now owns 964 shares of the company’s stock worth $91,000 after acquiring an additional 107 shares during the period. Farther Finance Advisors LLC lifted its stake in Shake Shack by 18.2% in the fourth quarter. Farther Finance Advisors LLC now owns 935 shares of the company’s stock worth $76,000 after acquiring an additional 144 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in Shake Shack by 1.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,186 shares of the company’s stock worth $746,000 after acquiring an additional 150 shares during the period. Finally, Murphy & Mullick Capital Management Corp lifted its stake in Shake Shack by 68.5% in the third quarter. Murphy & Mullick Capital Management Corp now owns 418 shares of the company’s stock worth $38,000 after acquiring an additional 170 shares during the period. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Insider Activity

In related news, Director Daniel Harris Meyer purchased 32,258 shares of Shake Shack stock in a transaction dated Friday, May 15th. The stock was purchased at an average cost of $61.88 per share, for a total transaction of $1,996,125.04. Following the completion of the acquisition, the director directly owned 378,670 shares of the company’s stock, valued at $23,432,099.60. The trade was a 9.31% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey Flug purchased 1,000 shares of Shake Shack stock in a transaction dated Friday, May 15th. The shares were bought at an average price of $61.30 per share, with a total value of $61,300.00. Following the completion of the acquisition, the director directly owned 5,470 shares of the company’s stock, valued at approximately $335,311. This represents a 22.37% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders purchased 50,616 shares of company stock valued at $3,109,782. 8.32% of the stock is currently owned by insiders.

Shake Shack Price Performance

SHAK opened at $62.90 on Friday. The stock has a fifty day simple moving average of $87.73 and a two-hundred day simple moving average of $88.99. 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 company has a market cap of $2.69 billion, a price-to-earnings ratio of 64.18, a price-to-earnings-growth ratio of 2.62 and a beta of 1.78. Shake Shack, Inc. has a 12-month low of $59.49 and a 12-month high of $144.65.

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wolfe Research assumed coverage on Shake Shack in a research note on Monday, March 9th. They issued an “outperform” rating and a $118.00 price target for the company. DA Davidson set a $85.00 price target on Shake Shack in a research note on Friday, May 8th. TD Cowen dropped their price target on Shake Shack from $105.00 to $76.00 and set a “hold” rating for the company in a research note on Thursday, May 7th. Weiss Ratings lowered Shake Shack from a “hold (c)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Finally, Robert W. Baird set a $76.00 price target on Shake Shack in a research note on Thursday, May 7th. One investment 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 given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $107.08.

Shake Shack Company Profile

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.