Shake Shack Inc. (SHAK) Major Shareholder Laura J. Sloate Sells 2,500 Shares
Shake Shack Inc. (NYSE:SHAK) major shareholder Laura J. Sloate sold 2,500 shares of the company’s stock in a transaction on Tuesday, September 27th. The shares were sold at an average price of $35.50, for a total value of $88,750.00. Following the sale, the insider now owns 20,000 shares of the company’s stock, valued at approximately $710,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 35.29 on Thursday. Shake Shack Inc. has a 1-year low of $30.00 and a 1-year high of $53.50. The company has a market cap of $845.30 million, a price-to-earnings ratio of 87.14 and a beta of 1.15. The stock has a 50 day moving average price of $35.72 and a 200-day moving average price of $36.49.
Shake Shack (NYSE:SHAK) last issued its earnings results on Wednesday, August 10th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.01. The company earned $66.50 million during the quarter, compared to analyst estimates of $63.07 million. Shake Shack had a return on equity of 8.09% and a net margin of 3.35%. The firm’s quarterly revenue was up 37.1% on a year-over-year basis. During the same quarter last year, the business posted $0.09 EPS. On average, equities research analysts forecast that Shake Shack Inc. will post $0.45 EPS for the current year.
A number of analysts recently commented on the company. Wedbush reiterated an “underperform” rating and set a $30.00 price objective on shares of Shake Shack in a research report on Thursday, August 11th. SunTrust Banks Inc. upgraded Shake Shack from a “neutral” rating to a “buy” rating and upped their price objective for the company from $40.87 to $48.00 in a research report on Thursday, August 11th. Zacks Investment Research upgraded Shake Shack from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research report on Saturday, July 23rd. Vetr cut Shake Shack from a “hold” rating to a “sell” rating and set a $37.50 price objective for the company. in a research report on Wednesday, July 20th. Finally, Jefferies Group reiterated a “hold” rating and set a $36.00 price objective (down previously from $38.00) on shares of Shake Shack in a research report on Thursday, August 11th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $40.56.
A number of institutional investors have recently modified their holdings of the company. USA Mutuals Advisors Inc. purchased a new position in shares of Shake Shack during the second quarter worth about $182,000. Wealthsource Partners LLC purchased a new position in shares of Shake Shack during the first quarter worth about $219,000. UBS Asset Management Americas Inc. raised its position in shares of 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 period. BlackRock Advisors LLC raised its position in shares of 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 period. Finally, Quadrature Capital Ltd purchased a new position in shares of Shake Shack during the second quarter worth about $289,000. Institutional investors own 93.41% of the company’s stock.
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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