Algert Global LLC Boosts Stake in Shake Shack Inc. (NYSE:SHAK)

Algert Global LLC boosted its holdings in Shake Shack Inc. (NYSE:SHAK) by 49.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,640 shares of the company’s stock after acquiring an additional 1,862 shares during the quarter. Algert Global LLC’s holdings in Shake Shack were worth $582,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Shake Shack in the 3rd quarter valued at about $41,000. Quest Partners LLC purchased a new position in Shake Shack in the second quarter valued at about $38,000. Kimelman & Baird LLC acquired a new stake in shares of Shake Shack during the 2nd quarter valued at approximately $45,000. Covestor Ltd boosted its stake in shares of Shake Shack by 41.6% during the 3rd quarter. Covestor Ltd now owns 698 shares of the company’s stock worth $72,000 after acquiring an additional 205 shares in the last quarter. Finally, CWM LLC grew its holdings in shares of Shake Shack by 24.7% in the 2nd quarter. CWM LLC now owns 1,046 shares of the company’s stock worth $94,000 after acquiring an additional 207 shares during the period. Institutional investors and hedge funds own 86.07% of the company’s stock.

Shake Shack Stock Performance

NYSE SHAK opened at $133.73 on Friday. The business’s 50-day moving average price is $116.51 and its 200 day moving average price is $102.36. The company has a current ratio of 2.01, a quick ratio of 1.98 and a debt-to-equity ratio of 0.51. Shake Shack Inc. has a twelve month low of $59.94 and a twelve month high of $134.90. The company has a market capitalization of $5.68 billion, a PE ratio of 786.65, a price-to-earnings-growth ratio of 3.01 and a beta of 1.81.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.25 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $316.03 million. During the same period in the prior year, the firm posted $0.17 EPS. The company’s revenue was up 14.7% on a year-over-year basis. On average, research analysts predict that Shake Shack Inc. will post 0.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. TD Cowen reaffirmed a “buy” rating and set a $125.00 price objective on shares of Shake Shack in a report on Wednesday, September 18th. Truist Financial boosted their price objective on shares of Shake Shack from $127.00 to $144.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. restated an “underweight” rating and set a $102.00 target price (down from $105.00) on shares of Shake Shack in a report on Tuesday, September 24th. Barclays lifted their target price on shares of Shake Shack from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Finally, Piper Sandler lowered shares of 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 research report on Monday, August 19th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $112.94.

Insider Activity

In other news, CFO Katherine Irene Fogertey sold 321 shares of Shake Shack stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $103.93, for a total value of $33,361.53. Following the transaction, the chief financial officer now directly owns 36,180 shares of the company’s stock, valued at $3,760,187.40. The trade was a 0.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Daniel Harris Meyer sold 22,691 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $124.47, for a total transaction of $2,824,348.77. Following the sale, the director now directly owns 437,646 shares of the company’s stock, valued at approximately $54,473,797.62. This trade represents a 4.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 63,433 shares of company stock valued at $7,654,856 in the last ninety days. Company insiders own 9.73% of the company’s stock.

Shake Shack Profile

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.