Holocene Advisors LP Buys Shares of 820,993 Shake Shack, Inc. $SHAK

Holocene Advisors LP purchased a new position in Shake Shack, Inc. (NYSE:SHAK) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 820,993 shares of the company’s stock, valued at approximately $115,432,000. Holocene Advisors LP owned about 1.92% of Shake Shack as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of SHAK. Nuveen LLC bought a new position in Shake Shack in the first quarter worth about $42,802,000. Ameriprise Financial Inc. raised its position in shares of Shake Shack by 144.3% during the 1st quarter. Ameriprise Financial Inc. now owns 791,857 shares of the company’s stock worth $69,805,000 after purchasing an additional 467,748 shares during the period. Jennison Associates LLC raised its position in shares of Shake Shack by 57.1% during the 2nd quarter. Jennison Associates LLC now owns 593,971 shares of the company’s stock worth $83,512,000 after purchasing an additional 215,984 shares during the period. Jump Financial LLC bought a new stake in shares of Shake Shack in the 1st quarter worth approximately $17,064,000. Finally, BNP Paribas Financial Markets boosted its position in Shake Shack by 332.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 223,272 shares of the company’s stock valued at $31,392,000 after purchasing an additional 171,692 shares during the period. Institutional investors own 86.07% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on SHAK shares. Piper Sandler dropped their target price on Shake Shack from $126.00 to $102.00 and set a “neutral” rating on the stock in a research report on Friday, October 31st. Oppenheimer set a $145.00 price objective on shares of Shake Shack in a research report on Friday, October 31st. Robert W. Baird reduced their target price on shares of Shake Shack from $127.00 to $104.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. Loop Capital upgraded shares of Shake Shack from a “hold” rating to a “buy” rating and raised their price target for the company from $98.00 to $127.00 in a research note on Friday, November 14th. Finally, Bank of America reaffirmed an “underperform” rating and set a $86.00 price target (down previously from $148.00) on shares of Shake Shack in a report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Shake Shack currently has an average rating of “Hold” and a consensus target price of $120.52.

Insiders Place Their Bets

In other news, insider Stephanie Ann Sentell sold 1,100 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $85.14, for a total transaction of $93,654.00. Following the completion of the sale, the insider directly owned 9,907 shares of the company’s stock, valued at $843,481.98. This trade represents a 9.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 8.50% of the stock is currently owned by insiders.

Shake Shack Price Performance

NYSE SHAK opened at $83.15 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.81 and a current ratio of 1.84. Shake Shack, Inc. has a 1 year low of $72.93 and a 1 year high of $144.65. The stock has a market capitalization of $3.55 billion, a P/E ratio of 81.52, a P/E/G ratio of 2.06 and a beta of 1.67. The business’s fifty day moving average is $88.98 and its two-hundred day moving average is $108.15.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.05. The firm had revenue of $367.41 million for the quarter, compared to the consensus estimate of $363.69 million. Shake Shack had a return on equity of 10.43% and a net margin of 3.10%.The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.25 EPS. On average, research analysts forecast that Shake Shack, Inc. will post 1.26 earnings per share for the current fiscal year.

Shake Shack Company Profile

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, chicken, hot dogs, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. The company was founded in 2001 and is headquartered in New York, New York.