Insider Buying: Shake Shack (NYSE:SHAK) Director Acquires 32,258 Shares of Stock

Shake Shack, Inc. (NYSE:SHAK) Director Daniel Harris Meyer acquired 32,258 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were purchased at an average cost of $61.88 per share, with a total value of $1,996,125.04. Following the completion of the transaction, the director owned 378,670 shares in the company, valued at approximately $23,432,099.60. The trade was a 9.31% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Shake Shack Stock Down 1.2%

Shares of Shake Shack stock traded down $0.75 during trading on Monday, hitting $59.66. 2,487,824 shares of the stock were exchanged, compared to its average volume of 1,685,013. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 60.88, a price-to-earnings-growth ratio of 2.50 and a beta of 1.78. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.69 and a quick ratio of 1.66. Shake Shack, Inc. has a 12-month low of $59.49 and a 12-month high of $144.65. The firm’s 50-day moving average price is $90.37 and its 200 day moving average price is $89.83.

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

Institutional Investors Weigh In On Shake Shack

Institutional investors and hedge funds have recently made changes to their positions in the business. Geneos Wealth Management Inc. purchased a new stake in shares of Shake Shack in the first quarter valued at about $26,000. Hilton Head Capital Partners LLC purchased a new stake in shares of Shake Shack in the fourth quarter valued at about $25,000. Assetmark Inc. raised its holdings 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 holdings 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, Advisory Services Network LLC purchased a new stake in shares of Shake Shack in the third quarter valued at about $38,000. 86.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SHAK shares. The Goldman Sachs Group reissued a “buy” rating on shares of Shake Shack in a research report on Friday, May 8th. Weiss Ratings cut shares of Shake Shack from a “hold (c)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Stifel Nicolaus raised shares of Shake Shack from a “hold” rating to a “buy” rating and reduced their price target for the company from $105.00 to $85.00 in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $117.00 price target on shares of Shake Shack in a research report on Wednesday, April 15th. Finally, Truist Financial boosted their price target on shares of Shake Shack from $144.00 to $148.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus 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.