Laura J. Sloate Sells 15,000 Shares of Shake Shack Inc. (SHAK) Stock
Shake Shack Inc. (NYSE:SHAK) major shareholder Laura J. Sloate sold 15,000 shares of the company’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $37.31, for a total transaction of $559,650.00. Following the transaction, the insider now owns 12,500 shares in the company, valued at $466,375. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of Shake Shack Inc. (NYSE:SHAK) opened at 38.03 on Wednesday. Shake Shack Inc. has a 52-week low of $30.00 and a 52-week high of $47.00. The stock has a market cap of $947.75 million, a PE ratio of 83.58 and a beta of 1.20. The company’s 50-day moving average is $33.37 and its 200-day moving average is $35.80.
Shake Shack (NYSE:SHAK) last issued its earnings results on Wednesday, November 9th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. Shake Shack had a net margin of 3.97% and a return on equity of 7.12%. The company had revenue of $74.60 million for the quarter, compared to the consensus estimate of $69.18 million. During the same period in the previous year, the firm earned $0.12 earnings per share. Shake Shack’s quarterly revenue was up 40.0% compared to the same quarter last year. Equities analysts anticipate that Shake Shack Inc. will post $0.46 EPS for the current year.
A number of institutional investors have recently modified their holdings of SHAK. Credit Suisse AG increased its position in shares of Shake Shack by 4.6% in the third quarter. Credit Suisse AG now owns 10,334 shares of the company’s stock worth $358,000 after buying an additional 458 shares during the period. Jane Street Group LLC boosted its stake in shares of Shake Shack by 680.3% in the third quarter. Jane Street Group LLC now owns 40,620 shares of the company’s stock worth $1,408,000 after buying an additional 47,620 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Shake Shack during the third quarter worth $396,000. Hsbc Holdings PLC boosted its stake in shares of Shake Shack by 190,476.2% in the third quarter. Hsbc Holdings PLC now owns 40,021 shares of the company’s stock worth $1,388,000 after buying an additional 40,000 shares in the last quarter. Finally, Morgan Stanley boosted its stake in shares of Shake Shack by 35.7% in the third quarter. Morgan Stanley now owns 2,110,317 shares of the company’s stock worth $73,165,000 after buying an additional 554,919 shares in the last quarter. 96.00% of the stock is currently owned by institutional investors.
SHAK has been the topic of a number of research analyst reports. Jefferies Group restated a “hold” rating and issued a $38.00 target price (up from $36.00) on shares of Shake Shack in a research note on Thursday, November 10th. Wedbush restated an “underperform” rating and issued a $30.00 target price on shares of Shake Shack in a research note on Thursday, August 11th. Vetr downgraded shares of Shake Shack from a “strong-buy” rating to a “hold” rating and set a $37.49 target price on the stock. in a research note on Thursday, November 10th. SunTrust Banks Inc. upgraded shares of Shake Shack from a “neutral” rating to a “buy” rating and upped their target price for the stock from $40.87 to $48.00 in a research note on Thursday, August 11th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $38.00 target price (up from $35.00) on shares of Shake Shack in a research note on Thursday, August 11th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $38.88.
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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