Josh Silverman Purchases 8,290 Shares of Shake Shack (NYSE:SHAK) Stock

Shake Shack, Inc. (NYSE:SHAK) Director Josh Silverman purchased 8,290 shares of the stock in a transaction dated Friday, May 15th. The stock was bought at an average cost of $60.38 per share, with a total value of $500,550.20. Following the transaction, the director owned 8,290 shares in the company, valued at $500,550.20. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Shake Shack Stock Down 1.2%

Shares of SHAK traded down $0.75 during trading hours on Monday, hitting $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 fifty day moving average price of $90.37 and a 200-day moving average price of $89.83. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.66 and a current ratio of 1.69. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 60.88, a P/E/G ratio of 2.50 and a beta of 1.78. Shake Shack, Inc. has a 52-week low of $59.49 and a 52-week high of $144.65.

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

Wall Street Analyst Weigh In

SHAK has been the subject of several recent analyst reports. Raymond James Financial set a $140.00 price target on Shake Shack in a research report on Wednesday, January 21st. Bank of America raised Shake Shack from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $88.00 to $101.00 in a research report on Tuesday, March 31st. DA Davidson set a $85.00 target price on Shake Shack in a research report on Friday, May 8th. The Goldman Sachs Group reissued a “buy” rating on shares of Shake Shack in a research report on Friday, May 8th. Finally, Stifel Nicolaus raised Shake Shack from a “hold” rating to a “buy” rating and decreased their target price for the stock from $105.00 to $85.00 in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $107.08.

Hedge Funds Weigh In On Shake Shack

A number of hedge funds have recently bought and sold shares of the business. Divisadero Street Capital Management LP grew its stake in shares of Shake Shack by 407.8% during the 3rd quarter. Divisadero Street Capital Management LP now owns 56,985 shares of the company’s stock valued at $5,334,000 after purchasing an additional 45,762 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of Shake Shack during the 3rd quarter valued at about $8,416,000. Public Sector Pension Investment Board grew its stake in shares of Shake Shack by 14.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 156,998 shares of the company’s stock valued at $14,697,000 after purchasing an additional 19,889 shares during the period. 12 West Capital Management LP grew its stake in shares of Shake Shack by 13.6% during the 3rd quarter. 12 West Capital Management LP now owns 1,753,595 shares of the company’s stock valued at $164,154,000 after purchasing an additional 210,000 shares during the period. Finally, CI Investments Inc. grew its stake in shares of Shake Shack by 34.1% during the 3rd quarter. CI Investments Inc. now owns 91,061 shares of the company’s stock valued at $8,524,000 after purchasing an additional 23,133 shares during the period. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Shake Shack Company 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.