Insider Selling: Shake Shack Inc. (SHAK) Director Sells $1,908,500.00 in Stock
Shake Shack Inc. (NYSE:SHAK) Director Equity Investors Vi L.P Green sold 50,000 shares of Shake Shack stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $38.17, for a total transaction of $1,908,500.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Shares of Shake Shack Inc. (NYSE:SHAK) opened at 36.89 on Monday. Shake Shack Inc. has a one year low of $30.00 and a one year high of $47.00. The firm has a 50-day moving average of $33.21 and a 200-day moving average of $35.82. The company has a market capitalization of $919.34 million, a P/E ratio of 81.08 and a beta of 1.20.
Shake Shack (NYSE:SHAK) last issued its quarterly earnings results on Wednesday, November 9th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.01. Shake Shack had a net margin of 3.97% and a return on equity of 7.12%. The business had revenue of $74.60 million for the quarter, compared to analyst estimates of $69.18 million. During the same quarter in the prior year, the business posted $0.12 EPS. Shake Shack’s revenue for the quarter was up 40.0% compared to the same quarter last year. Analysts forecast that Shake Shack Inc. will post $0.46 earnings per share for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. USA Mutuals Advisors Inc. bought a new position in shares of Shake Shack during the second quarter worth about $182,000. 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 last quarter. BlackRock Group LTD raised its position in shares of Shake Shack by 16.3% in the third quarter. BlackRock Group LTD now owns 6,472 shares of the company’s stock worth $224,000 after buying an additional 906 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 worth $228,000 after buying an additional 3,420 shares during the last quarter. Finally, US Bancorp DE bought a new position in shares of Shake Shack during the third quarter worth about $248,000. Institutional investors and hedge funds own 96.00% of the company’s stock.
A number of research firms recently weighed in on SHAK. Buckingham Research restated a “buy” rating and set a $45.00 target price on shares of Shake Shack in a research note on Friday, September 16th. Vetr upgraded shares of Shake Shack from a “buy” rating to a “strong-buy” rating and set a $39.64 target price on the stock in a research note on Monday, September 5th. JPMorgan Chase & Co. restated a “hold” rating and set a $38.00 target price on shares of Shake Shack in a research note on Wednesday, September 28th. Wedbush restated an “underperform” rating and set a $28.00 target price (down previously from $39.00) on shares of Shake Shack in a research note on Saturday, October 15th. Finally, Zacks Investment Research upgraded shares of Shake Shack from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research note on Wednesday, October 5th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. Shake Shack has a consensus rating of “Hold” and a consensus target price of $38.88.
About Shake Shack
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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