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 stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $35.51, for a total transaction of $88,775.00. Following the sale, the insider now directly owns 20,000 shares in the company, valued at $710,200. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of Shake Shack Inc. (NYSE:SHAK) opened at 35.29 on Thursday. The firm has a market cap of $845.30 million, a P/E ratio of 87.14 and a beta of 1.15. The stock’s 50 day moving average is $35.72 and its 200-day moving average is $36.49. Shake Shack Inc. has a one year low of $30.00 and a one year high of $53.50.
Shake Shack (NYSE:SHAK) last issued its quarterly earnings results on Wednesday, August 10th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. Shake Shack had a net margin of 3.35% and a return on equity of 8.09%. The business had revenue of $66.50 million for the quarter, compared to analyst estimates of $63.07 million. During the same period in the previous year, the business posted $0.09 earnings per share. The business’s revenue was up 37.1% compared to the same quarter last year. Analysts anticipate that Shake Shack Inc. will post $0.45 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. USA Mutuals Advisors Inc. bought a new position in shares of Shake Shack during the second quarter valued at $182,000. Wealthsource Partners LLC bought a new position in shares of Shake Shack during the first quarter valued at $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 valued at $219,000 after buying an additional 300 shares during the last quarter. 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 valued at $228,000 after buying an additional 3,420 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new position in shares of Shake Shack during the second quarter valued at $289,000. Institutional investors and hedge funds own 93.41% of the company’s stock.
A number of research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Shake Shack from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Vetr lowered shares of Shake Shack from a “buy” rating to a “hold” rating and set a $37.50 price target on the stock. in a research note on Wednesday, July 6th. Buckingham Research reaffirmed a “buy” rating and issued a $45.00 price target on shares of Shake Shack in a research note on Saturday, August 13th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $38.00 price target (up from $35.00) on shares of Shake Shack in a research note on Thursday, August 11th. Finally, SunTrust Banks Inc. assumed coverage on shares of Shake Shack in a research note on Wednesday, June 1st. They issued a “neutral” rating on the stock. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target 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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