Entropy Technologies LP Sells 21,270 Shares of Shake Shack, Inc. $SHAK

Entropy Technologies LP lessened its holdings in Shake Shack, Inc. (NYSE:SHAK) by 71.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,508 shares of the company’s stock after selling 21,270 shares during the quarter. Entropy Technologies LP’s holdings in Shake Shack were worth $753,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Glenview Trust co lifted its position in shares of Shake Shack by 1.5% during the 2nd quarter. Glenview Trust co now owns 6,925 shares of the company’s stock worth $974,000 after buying an additional 100 shares during the last quarter. UMB Bank n.a. boosted its stake in Shake Shack by 42.2% in the fourth quarter. UMB Bank n.a. now owns 391 shares of the company’s stock valued at $32,000 after buying an additional 116 shares in the last quarter. Maryland State Retirement & Pension System grew its position in Shake Shack by 2.1% in the fourth quarter. Maryland State Retirement & Pension System now owns 5,905 shares of the company’s stock valued at $479,000 after acquiring an additional 119 shares during the last quarter. Farther Finance Advisors LLC grew its position in Shake Shack by 18.2% in the fourth quarter. Farther Finance Advisors LLC now owns 935 shares of the company’s stock valued at $76,000 after acquiring an additional 144 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in Shake Shack by 1.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,186 shares of the company’s stock worth $746,000 after acquiring an additional 150 shares in the last quarter. Institutional investors own 86.07% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Barclays dropped their target price on shares of Shake Shack from $118.00 to $96.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Wall Street Zen lowered shares of Shake Shack from a “hold” rating to a “strong sell” rating in a report on Saturday, May 16th. Bank of America upgraded shares of Shake Shack from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $88.00 to $101.00 in a research report on Tuesday, March 31st. Piper Sandler dropped their price objective on shares of Shake Shack from $79.00 to $66.00 and set a “neutral” rating for the company in a research note on Tuesday, July 14th. Finally, Raymond James Financial lowered shares of Shake Shack from a “strong-buy” rating to an “outperform” rating and cut their target price for the company from $125.00 to $85.00 in a research report on Wednesday, June 3rd. Fifteen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $89.39.

Shake Shack Price Performance

Shake Shack stock opened at $63.16 on Wednesday. The company has a current ratio of 1.69, a quick ratio of 1.66 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $2.70 billion, a PE ratio of 64.45, a P/E/G ratio of 4.76 and a beta of 1.63. Shake Shack, Inc. has a 12 month low of $51.60 and a 12 month high of $142.20. The stock has a 50-day moving average price of $58.02 and a two-hundred day moving average price of $79.55.

Insider Buying and Selling

In other news, Director Jeffrey Flug acquired 1,000 shares of the stock in a transaction dated Friday, May 15th. The stock was bought at an average price of $61.30 per share, with a total value of $61,300.00. Following the completion of the purchase, the director directly owned 5,470 shares of the company’s stock, valued at $335,311. This represents a 22.37% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert Lynch acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was acquired at an average price of $60.39 per share, with a total value of $301,950.00. Following the acquisition, the chief executive officer owned 77,845 shares in the company, valued at $4,701,059.55. The trade was a 6.86% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 50,616 shares of company stock valued at $3,109,782 over the last three months. Insiders own 8.32% of the company’s stock.

Shake Shack Profile

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.