SG Americas Securities LLC Increases Position in Shake Shack, Inc. $SHAK

SG Americas Securities LLC increased its holdings in Shake Shack, Inc. (NYSE:SHAK) by 35.5% in the 1st quarter, HoldingsChannel.com reports. The fund owned 46,943 shares of the company’s stock after buying an additional 12,307 shares during the period. SG Americas Securities LLC’s holdings in Shake Shack were worth $4,153,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Corient Private Wealth LLC lifted its holdings in Shake Shack by 216.9% during the fourth quarter. Corient Private Wealth LLC now owns 13,076 shares of the company’s stock worth $1,061,000 after acquiring an additional 8,950 shares during the period. Alberta Investment Management Corp bought a new position in Shake Shack in the 4th quarter valued at $1,201,000. Empowered Funds LLC bought a new position in Shake Shack in the 4th quarter valued at $100,000. XTX Topco Ltd increased its position in shares of Shake Shack by 1,485.4% during the 4th quarter. XTX Topco Ltd now owns 39,745 shares of the company’s stock valued at $3,226,000 after purchasing an additional 37,238 shares during the last quarter. Finally, Susquehanna Portfolio Strategies LLC increased its position in shares of Shake Shack by 53.5% during the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 99,778 shares of the company’s stock valued at $8,099,000 after purchasing an additional 34,776 shares during the last quarter. 86.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Shake Shack

In other Shake Shack news, Director Jeffrey Flug bought 1,000 shares of the business’s stock in a transaction on Friday, May 15th. The stock was purchased at an average price of $61.30 per share, for a total transaction of $61,300.00. Following the completion of the transaction, the director directly owned 5,470 shares of the company’s stock, valued at $335,311. This trade represents a 22.37% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel Harris Meyer bought 32,258 shares of Shake Shack stock in a transaction dated Friday, May 15th. The stock was acquired at an average price of $61.88 per share, with a total value of $1,996,125.04. Following the purchase, the director directly owned 378,670 shares of the company’s stock, valued at approximately $23,432,099.60. This represents a 9.31% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders bought 50,616 shares of company stock valued at $3,109,782. Insiders own 8.32% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on SHAK. Guggenheim lowered their target price on Shake Shack from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Morgan Stanley restated an “equal weight” rating and set a $76.00 price objective (down from $115.00) on shares of Shake Shack in a report on Wednesday, June 3rd. BNP Paribas Exane lowered their price objective on shares of Shake Shack from $100.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, June 4th. Wolfe Research started coverage on shares of Shake Shack in a research note on Monday, March 9th. They issued an “outperform” rating and a $118.00 target price on the stock. Finally, Truist Financial increased their target price 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. Fifteen research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Shake Shack has a consensus rating of “Moderate Buy” and an average target price of $91.00.

Shake Shack Stock Down 3.7%

SHAK stock opened at $54.79 on Tuesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.66 and a current ratio of 1.69. The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of 55.91, a PEG ratio of 2.52 and a beta of 1.63. Shake Shack, Inc. has a fifty-two week low of $51.60 and a fifty-two week high of $144.65. The stock has a fifty day moving average of $69.56 and a 200-day moving average of $83.35.

Shake Shack 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.