Shake Shack Inc. (NYSE:SHAK) major shareholder Laura J. Sloate sold 2,500 shares of Shake Shack stock in a transaction on Tuesday, September 27th. The shares were sold at an average price of $35.50, for a total transaction of $88,750.00. Following the completion of the sale, the insider now owns 20,000 shares in the company, valued at approximately $710,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Shake Shack Inc. (NYSE:SHAK) opened at 34.97 on Friday. The stock has a market cap of $837.64 million, a price-to-earnings ratio of 86.35 and a beta of 1.15. The stock has a 50 day moving average price of $35.55 and a 200 day moving average price of $36.48. Shake Shack Inc. has a 52-week low of $30.00 and a 52-week high of $53.50.
Shake Shack (NYSE:SHAK) last released its earnings results on Wednesday, August 10th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. Shake Shack had a return on equity of 8.09% and a net margin of 3.35%. The business had revenue of $66.50 million for the quarter, compared to analyst estimates of $63.07 million. During the same quarter last year, the firm posted $0.09 earnings per share. The business’s revenue was up 37.1% compared to the same quarter last year. Analysts expect that Shake Shack Inc. will post $0.45 EPS for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in the company. USA Mutuals Advisors Inc. acquired a new stake in Shake Shack during the second quarter worth $182,000. Wealthsource Partners LLC acquired a new stake in Shake Shack during the first quarter worth $219,000. UBS Asset Management Americas Inc. raised its stake in Shake Shack by 5.3% in the second quarter. UBS Asset Management Americas Inc. now owns 6,000 shares of the company’s stock worth $219,000 after buying an additional 300 shares during the last quarter. BlackRock Advisors LLC raised its stake in Shake Shack by 121.1% in the second quarter. BlackRock Advisors LLC now owns 6,245 shares of the company’s stock worth $228,000 after buying an additional 3,420 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in Shake Shack during the second quarter worth $289,000. Institutional investors and hedge funds own 93.41% of the company’s stock.
Several analysts recently weighed in on the stock. Zacks Investment Research cut shares of Shake Shack from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. Vetr cut shares of Shake Shack from a “buy” rating to a “hold” rating and set a $37.50 price target on the stock. in a report on Wednesday, July 6th. Buckingham Research reiterated a “buy” rating and issued a $45.00 price target on shares of Shake Shack in a report on Saturday, August 13th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $38.00 price target (up previously from $35.00) on shares of Shake Shack in a report on Thursday, August 11th. Finally, Wedbush assumed coverage on shares of Shake Shack in a report on Wednesday, July 6th. They issued an “underperform” rating and a $30.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Shake Shack currently has an average rating of “Hold” and a consensus target price of $40.56.
Shake Shack Company Profile
Shake Shack Inc operates roadside burger stands. The Company serves an American menu of burgers, hot dogs, crispy chicken, frozen custard, crinkle cut fries, shakes, beer and wine, among others. The Company has approximately 84 Shacks in over 10 countries and approximately 45 cities. The Company’s signature items are its all-natural, hormone and antibiotic-free burgers, hot dogs, crispy chicken, crinkle cut fries, shakes and frozen custard.
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