Shake Shack, Inc. (NYSE:SHAK) Shares Sold by SG Americas Securities LLC
SG Americas Securities LLC cut its position in Shake Shack, Inc. (NYSE:SHAK) by 24.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,984 shares of the company’s stock after selling 1,274 shares during the period. SG Americas Securities LLC’s holdings in Shake Shack were worth $133,000 as of its most recent filing with the SEC.
Other hedge funds have also recently made changes to their positions in the company. BNP Paribas Arbitrage SA increased its position in shares of Shake Shack by 206.3% in the first quarter. BNP Paribas Arbitrage SA now owns 3,666 shares of the company’s stock valued at $122,000 after buying an additional 2,469 shares during the last quarter. Mason Street Advisors LLC acquired a new position in shares of Shake Shack during the first quarter valued at about $140,000. Russell Investments Group Ltd. acquired a new position in shares of Shake Shack during the fourth quarter valued at about $230,000. Louisiana State Employees Retirement System acquired a new position in shares of Shake Shack during the first quarter valued at about $244,000. Finally, Guggenheim Capital LLC increased its position in shares of Shake Shack by 29.5% in the fourth quarter. Guggenheim Capital LLC now owns 8,250 shares of the company’s stock valued at $296,000 after buying an additional 1,881 shares during the last quarter. Institutional investors own 97.46% of the company’s stock.
Shares of Shake Shack, Inc. (NYSE SHAK) traded up 1.27% during trading on Tuesday, reaching $32.60. The company’s stock had a trading volume of 749,237 shares. Shake Shack, Inc. has a 12 month low of $30.36 and a 12 month high of $42.94. The firm has a market cap of $839.68 million, a PE ratio of 60.59 and a beta of 1.29. The stock’s 50 day moving average price is $35.03 and its 200-day moving average price is $34.96.
Shake Shack (NYSE:SHAK) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.04. Shake Shack had a net margin of 4.70% and a return on equity of 8.92%. The company had revenue of $91.30 million for the quarter, compared to analysts’ expectations of $89 million. During the same quarter in the previous year, the company earned $0.14 earnings per share. Shake Shack’s quarterly revenue was up 37.3% on a year-over-year basis. Equities analysts predict that Shake Shack, Inc. will post $0.52 EPS for the current year.
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Several brokerages have issued reports on SHAK. TheStreet upgraded Shake Shack from a “d” rating to a “c-” rating in a research report on Thursday, August 3rd. Barclays PLC lowered their target price on Shake Shack from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday. Wedbush lowered their target price on Shake Shack from $43.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday. BidaskClub cut Shake Shack from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 3rd. Finally, Zacks Investment Research cut Shake Shack from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $37.60.
In other Shake Shack news, Director Daniel Harris Meyer sold 25,000 shares of the company’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $38.04, for a total value of $951,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jeffrey Flug sold 85,000 shares of the company’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $37.02, for a total transaction of $3,146,700.00. The disclosure for this sale can be found here. Insiders have sold 310,292 shares of company stock worth $11,482,438 in the last quarter. 34.91% of the stock is owned by corporate insiders.
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’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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