Shake Shack Inc. (NYSE:SHAK) major shareholder Laura J. Sloate sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, September 27th. The shares were sold at an average price of $35.50, for a total transaction of $88,750.00. Following the completion of the transaction, the insider now directly owns 20,000 shares in the company, valued at approximately $710,000. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Shake Shack Inc. (NYSE:SHAK) opened at 34.67 on Monday. Shake Shack Inc. has a 1-year low of $30.00 and a 1-year high of $53.50. The company has a market cap of $830.45 million, a price-to-earnings ratio of 85.60 and a beta of 1.15. The company’s 50-day moving average is $35.44 and its 200 day moving average is $36.48.
Shake Shack (NYSE:SHAK) last posted its quarterly earnings data on Wednesday, August 10th. The company reported $0.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.01. Shake Shack had a net margin of 3.35% and a return on equity of 8.09%. The business earned $66.50 million during the quarter, compared to analysts’ expectations of $63.07 million. During the same quarter in the prior year, the business posted $0.09 earnings per share. Shake Shack’s revenue was up 37.1% compared to the same quarter last year. On average, equities analysts predict that Shake Shack Inc. will post $0.45 EPS for the current fiscal year.
A number of large investors have recently bought and sold shares of SHAK. Granite Point Capital Management L.P. purchased a new stake in Shake Shack during the second quarter valued at $10,929,000. Gabelli Funds LLC purchased a new stake in Shake Shack during the second quarter valued at $2,149,000. California State Teachers Retirement System boosted its stake in Shake Shack by 171.1% in the second quarter. California State Teachers Retirement System now owns 32,934 shares of the company’s stock valued at $1,200,000 after buying an additional 20,785 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Shake Shack by 5.8% in the second quarter. Bank of New York Mellon Corp now owns 63,099 shares of the company’s stock valued at $2,299,000 after buying an additional 3,451 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC boosted its stake in Shake Shack by 20.6% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,720,760 shares of the company’s stock valued at $62,687,000 after buying an additional 294,113 shares in the last quarter. 93.41% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently issued reports on the stock. Wedbush reaffirmed an “underperform” rating and issued a $30.00 target price on shares of Shake Shack in a research note on Thursday, August 11th. SunTrust Banks Inc. raised shares of Shake Shack from a “neutral” rating to a “buy” rating and raised their target price for the company from $40.87 to $48.00 in a research note on Thursday, August 11th. Zacks Investment Research raised shares of Shake Shack from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research note on Saturday, July 23rd. Vetr lowered shares of Shake Shack from a “hold” rating to a “sell” rating and set a $37.50 target price on the stock. in a research note on Wednesday, July 20th. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $36.00 target price (down previously from $38.00) on shares of Shake Shack in a research note on Thursday, August 11th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $40.56.
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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