Insider Buying: Shake Shack (NYSE:SHAK) Director Acquires 4,068 Shares of Stock

Shake Shack, Inc. (NYSE:SHAK) Director Sumaiya Balbale bought 4,068 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was bought at an average price of $61.42 per share, with a total value of $249,856.56. Following the completion of the purchase, the director directly owned 13,407 shares in the company, valued at $823,457.94. This represents a 43.56% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Shake Shack Stock Performance

SHAK stock traded down $0.75 during trading on Monday, reaching $59.66. The company had a trading volume of 2,487,824 shares, compared to its average volume of 1,685,013. The firm has a 50-day simple moving average of $90.37 and a 200-day simple moving average of $89.83. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 60.88, a price-to-earnings-growth ratio of 2.50 and a beta of 1.78. 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 twelve month low of $59.49 and a twelve month high of $144.65.

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

Institutional Investors Weigh In On Shake Shack

Several hedge funds have recently bought and sold shares of the stock. Quantinno Capital Management LP boosted its position in Shake Shack by 655.6% in the 1st quarter. Quantinno Capital Management LP now owns 55,362 shares of the company’s stock worth $4,898,000 after purchasing an additional 48,035 shares in the last quarter. SummitTX Capital L.P. purchased a new stake in Shake Shack in the 1st quarter worth approximately $542,000. Delta Global Management LP purchased a new stake in Shake Shack in the 1st quarter worth approximately $1,860,000. Cannell & Spears LLC boosted its position in Shake Shack by 27.4% in the 1st quarter. Cannell & Spears LLC now owns 452,694 shares of the company’s stock worth $40,022,000 after purchasing an additional 97,446 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Shake Shack in the 1st quarter worth approximately $19,774,000. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Wells Fargo & Company cut their price target on shares of Shake Shack from $100.00 to $80.00 and set an “equal weight” rating on the stock in a report on Friday, May 8th. Stifel Nicolaus upgraded shares of Shake Shack from a “hold” rating to a “buy” rating and cut their price target for the stock from $105.00 to $85.00 in a report on Friday, May 8th. Raymond James Financial set a $140.00 price target on shares of Shake Shack in a report on Wednesday, January 21st. TD Cowen cut their price target on shares of Shake Shack from $105.00 to $76.00 and set a “hold” rating on the stock in a report on Thursday, May 7th. Finally, Zacks Research upgraded shares of Shake Shack from a “strong sell” rating to a “hold” rating in a report on Monday, March 9th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Shake Shack has an average rating of “Moderate Buy” and a consensus price target 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.