Nisa Investment Advisors LLC Boosts Holdings in Shake Shack Inc. (NYSE:SHAK)

Nisa Investment Advisors LLC raised its position in shares of Shake Shack Inc. (NYSE:SHAK) by 35.8% during the third quarter, HoldingsChannel reports. The fund owned 3,110 shares of the company’s stock after acquiring an additional 820 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Shake Shack were worth $321,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new position in Shake Shack during the 1st quarter valued at about $25,000. Quest Partners LLC purchased a new position in shares of Shake Shack during the second quarter valued at approximately $38,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Shake Shack during the third quarter valued at approximately $41,000. Kimelman & Baird LLC purchased a new stake in shares of Shake Shack in the second quarter worth approximately $45,000. Finally, Covestor Ltd lifted its stake in shares of Shake Shack by 32,150.0% during the 1st quarter. Covestor Ltd now owns 645 shares of the company’s stock worth $67,000 after acquiring an additional 643 shares during the last quarter. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Insider Activity at Shake Shack

In other Shake Shack news, Director Daniel Harris Meyer sold 30,000 shares of Shake Shack stock in a transaction on Friday, November 1st. The shares were sold at an average price of $121.79, for a total value of $3,653,700.00. Following the transaction, the director now directly owns 407,646 shares of the company’s stock, valued at approximately $49,647,206.34. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Katherine Irene Fogertey sold 321 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $103.93, for a total value of $33,361.53. Following the completion of the transaction, the chief financial officer now directly owns 36,180 shares of the company’s stock, valued at $3,760,187.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Daniel Harris Meyer sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $121.79, for a total transaction of $3,653,700.00. Following the sale, the director now directly owns 407,646 shares in the company, valued at approximately $49,647,206.34. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 73,433 shares of company stock valued at $8,757,256 over the last 90 days. Insiders own 9.73% of the company’s stock.

Shake Shack Trading Up 2.7 %

Shares of NYSE SHAK opened at $126.89 on Wednesday. Shake Shack Inc. has a 1-year low of $54.06 and a 1-year high of $130.20. The business has a fifty day moving average price of $106.49 and a 200 day moving average price of $99.08. The stock has a market capitalization of $5.39 billion, a P/E ratio of 744.47, a price-to-earnings-growth ratio of 3.35 and a beta of 1.81. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.01 and a quick ratio of 1.98.

Shake Shack (NYSE:SHAK) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.20 by $0.05. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The business had revenue of $316.92 million during the quarter, compared to analyst estimates of $316.03 million. During the same period in the prior year, the firm posted $0.17 earnings per share. The company’s quarterly revenue was up 14.7% on a year-over-year basis. Equities research analysts expect that Shake Shack Inc. will post 0.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SHAK has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $115.00 price objective on shares of Shake Shack in a research report on Wednesday, August 28th. Bank of America raised their price target on shares of Shake Shack from $104.00 to $116.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Truist Financial boosted their price objective on shares of Shake Shack from $127.00 to $144.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Wedbush reaffirmed a “neutral” rating and set a $90.00 target price on shares of Shake Shack in a research report on Thursday, August 1st. Finally, Piper Sandler lowered Shake Shack from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $121.00 to $114.00 in a report on Monday, August 19th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $110.00.

About Shake Shack

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, chicken, hot dogs, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. The company was founded in 2001 and is headquartered in New York, New York.