Shake Shack (NYSE:SHAK) Director Daniel Harris Meyer Purchases 32,258 Shares

Shake Shack, Inc. (NYSE:SHAK) Director Daniel Harris Meyer bought 32,258 shares of the stock in a transaction dated Friday, May 15th. The shares were purchased at an average cost of $61.88 per share, for a total transaction of $1,996,125.04. Following the completion of the purchase, the director owned 378,670 shares in the company, valued at approximately $23,432,099.60. This represents a 9.31% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shake Shack Price Performance

Shares of SHAK stock traded down $0.75 during mid-day trading on Monday, hitting $59.66. 2,487,824 shares of the stock were exchanged, compared to its average volume of 1,685,013. The firm has a fifty day moving average of $90.37 and a 200 day moving average of $89.83. The company has a quick ratio of 1.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.45. Shake Shack, Inc. has a 52-week low of $59.49 and a 52-week high of $144.65. The company has a market cap of $2.55 billion, a PE ratio of 60.88, a price-to-earnings-growth ratio of 2.50 and a beta of 1.78.

Shake Shack (NYSE:SHAK) last posted its 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). Shake Shack had a return on equity of 9.62% and a net margin of 2.76%.The firm had revenue of $366.74 million for the quarter, compared to analysts’ expectations of $372.43 million. During the same period in the previous year, the company earned $0.14 earnings per share. The company’s revenue was up 14.3% compared to the same quarter last year. Research analysts anticipate that Shake Shack, Inc. will post 1.24 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SHAK shares. Oppenheimer set a $100.00 price target on shares of Shake Shack in a research note on Friday, May 8th. Guggenheim dropped their target price on shares of Shake Shack from $120.00 to $100.00 and set a “buy” rating for the company in a report on Monday, May 11th. Piper Sandler set a $79.00 target price on shares of Shake Shack in a report on Thursday, May 7th. JPMorgan Chase & Co. decreased their price target on shares of Shake Shack from $100.00 to $85.00 and set a “neutral” rating for the company in a research report on Friday, May 8th. Finally, Zacks Research raised shares of Shake Shack from a “strong sell” rating to a “hold” rating in a research report on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $107.08.

Hedge Funds Weigh In On Shake Shack

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hilton Head Capital Partners LLC purchased a new stake in shares of Shake Shack during the 4th quarter worth $25,000. Geneos Wealth Management Inc. purchased a new stake in shares of Shake Shack during the 1st quarter worth $26,000. Assetmark Inc. lifted its position in shares of Shake Shack by 457.6% during the 4th quarter. Assetmark Inc. now owns 368 shares of the company’s stock worth $30,000 after purchasing an additional 302 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Shake Shack by 42.2% during the 4th quarter. UMB Bank n.a. now owns 391 shares of the company’s stock worth $32,000 after purchasing an additional 116 shares during the last quarter. Finally, Murphy & Mullick Capital Management Corp lifted its position in shares of Shake Shack by 68.5% during the 3rd quarter. Murphy & Mullick Capital Management Corp now owns 418 shares of the company’s stock worth $38,000 after purchasing an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 86.07% of the company’s stock.

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.