Insider Buying: Shake Shack (NYSE:SHAK) CEO Purchases $301,950.00 in Stock

Shake Shack, Inc. (NYSE:SHAK) CEO Robert Lynch bought 5,000 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were acquired at an average cost of $60.39 per share, for a total transaction of $301,950.00. Following the transaction, the chief executive officer directly owned 77,845 shares in the company, valued at approximately $4,701,059.55. This represents a 6.86% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website.

Shake Shack Price Performance

Shares of NYSE SHAK opened at $63.45 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.66 and a current ratio of 1.69. Shake Shack, Inc. has a fifty-two week low of $59.49 and a fifty-two week high of $144.65. The firm has a market capitalization of $2.71 billion, a PE ratio of 64.74, a price-to-earnings-growth ratio of 2.65 and a beta of 1.78. The stock’s 50-day simple moving average is $88.39 and its 200-day simple moving average is $89.23.

Shake Shack (NYSE:SHAK) last issued its earnings results on Thursday, May 7th. The company reported $0.00 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.11). Shake Shack had a return on equity of 9.62% and a net margin of 2.76%.The business had revenue of $366.74 million for the quarter, compared to analyst estimates of $372.43 million. During the same period last year, the business posted $0.14 EPS. Shake Shack’s revenue was up 14.3% on a year-over-year basis. As a group, equities research analysts forecast that Shake Shack, Inc. will post 1.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its stake in shares of Shake Shack by 9.3% in the 1st quarter. Bank of America Corp DE now owns 899,013 shares of the company’s stock valued at $79,536,000 after purchasing an additional 76,724 shares during the last quarter. Amundi grew its stake in shares of Shake Shack by 19.8% in the 1st quarter. Amundi now owns 7,626 shares of the company’s stock valued at $675,000 after purchasing an additional 1,261 shares during the last quarter. California State Teachers Retirement System grew its stake in shares of Shake Shack by 23.2% in the 1st quarter. California State Teachers Retirement System now owns 44,636 shares of the company’s stock valued at $3,949,000 after purchasing an additional 8,409 shares during the last quarter. Quantinno Capital Management LP grew its stake in shares of Shake Shack by 655.6% in the 1st quarter. Quantinno Capital Management LP now owns 55,362 shares of the company’s stock valued at $4,898,000 after purchasing an additional 48,035 shares during the last quarter. Finally, SummitTX Capital L.P. purchased a new position in shares of Shake Shack in the 1st quarter valued at approximately $542,000. Institutional investors and hedge funds own 86.07% of the company’s stock.

Wall Street Analysts Forecast Growth

SHAK has been the topic of several research analyst reports. Piper Sandler set a $79.00 price target on Shake Shack in a research report on Thursday, May 7th. BNP Paribas Exane cut their price target on Shake Shack from $124.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. Raymond James Financial set a $140.00 price target on Shake Shack in a research report on Wednesday, January 21st. Barclays cut their price target on Shake Shack from $118.00 to $96.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Finally, Bank of America raised Shake Shack from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $88.00 to $101.00 in a research report on Tuesday, March 31st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $107.08.

About Shake Shack

Shake Shack, Inc (NYSE: SHAK) is a publicly traded hospitality company known for its modern take on the classic American roadside burger stand. The company operates a chain of quick-casual restaurants offering premium hamburgers, hot dogs, crinkle-cut fries, frozen custard, milkshakes and a curated selection of beer and wine. Shake Shack emphasizes high-quality ingredients, including 100% all-natural Angus beef with no hormones or antibiotics, and works with local suppliers where possible to maintain its commitment to fresh, responsibly sourced food.

Shake Shack traces its origins to a hot dog cart opened in New York City’s Madison Square Park in 2001 by Danny Meyer’s Union Square Hospitality Group.