Blueshift Asset Management LLC Makes New Investment in Shake Shack, Inc. (NYSE:SHAK)

Key Points

• Blueshift Asset Management LLC invested approximately $869,000 in Shake Shack, acquiring 9,860 shares in the first quarter of the year.
• Shake Shack's CFO recently sold 3,956 shares at an average price of $127.49, while a director sold 20,000 shares for a total of $2.8 million, reflecting a decrease in their positions.
• The company's stock opened at $121.10 and has shown a significant range in the past year, with a low of $72.93 and a high of $144.65.

Blueshift Asset Management LLC acquired a new position in Shake Shack, Inc. (NYSE:SHAK - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 9,860 shares of the company's stock, valued at approximately $869,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. American Century Companies Inc. boosted its holdings in shares of Shake Shack by 11.5% in the 4th quarter. American Century Companies Inc. now owns 10,675 shares of the company's stock valued at $1,386,000 after purchasing an additional 1,098 shares in the last quarter. LPL Financial LLC boosted its holdings in shares of Shake Shack by 21.1% in the 4th quarter. LPL Financial LLC now owns 19,057 shares of the company's stock valued at $2,474,000 after purchasing an additional 3,315 shares in the last quarter. Norges Bank bought a new stake in shares of Shake Shack during the 4th quarter valued at approximately $15,409,000. Alliancebernstein L.P. grew its holdings in shares of Shake Shack by 60.0% during the 4th quarter. Alliancebernstein L.P. now owns 67,233 shares of the company's stock valued at $8,727,000 after purchasing an additional 25,222 shares during the last quarter. Finally, Nemes Rush Group LLC bought a new stake in shares of Shake Shack during the 4th quarter valued at approximately $29,000. Institutional investors and hedge funds own 86.07% of the company's stock.

Shake Shack Trading Down 7.0%

Shares of NYSE:SHAK traded down $8.46 during trading on Friday, reaching $111.88. The stock had a trading volume of 3,509,269 shares, compared to its average volume of 1,405,464. The firm's fifty day moving average is $132.67 and its 200 day moving average is $111.89. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.88 and a current ratio of 1.92. Shake Shack, Inc. has a 52 week low of $72.93 and a 52 week high of $144.65. The stock has a market cap of $4.77 billion, a price-to-earnings ratio of 243.22, a P/E/G ratio of 2.82 and a beta of 1.82.

Shake Shack (NYSE:SHAK - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.07. Shake Shack had a net margin of 1.50% and a return on equity of 9.78%. The company had revenue of $356.47 million for the quarter, compared to the consensus estimate of $352.56 million. During the same quarter in the previous year, the company earned $0.27 EPS. Shake Shack's quarterly revenue was up 12.6% compared to the same quarter last year. As a group, equities analysts forecast that Shake Shack, Inc. will post 1.26 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Daniel Harris Meyer sold 20,000 shares of the business's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $140.07, for a total transaction of $2,801,400.00. Following the transaction, the director owned 367,984 shares in the company, valued at $51,543,518.88. The trade was a 5.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Katherine Irene Fogertey sold 3,956 shares of the business's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $127.49, for a total transaction of $504,350.44. Following the transaction, the chief financial officer owned 35,750 shares in the company, valued at $4,557,767.50. The trade was a 9.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 87,391 shares of company stock worth $11,869,925 in the last quarter. 9.73% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Sanford C. Bernstein set a $166.00 price target on shares of Shake Shack and gave the company an "overweight" rating in a report on Thursday, June 26th. Bank of America lifted their price target on shares of Shake Shack from $134.00 to $148.00 and gave the company a "neutral" rating in a report on Friday, July 18th. Truist Financial lifted their price target on shares of Shake Shack from $150.00 to $160.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Jefferies Financial Group lowered shares of Shake Shack from a "hold" rating to an "underperform" rating and lifted their price target for the company from $100.00 to $120.00 in a report on Thursday, July 17th. Finally, UBS Group reaffirmed a "neutral" rating and set a $140.00 price target (up from $100.00) on shares of Shake Shack in a report on Friday, July 25th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Shake Shack currently has a consensus rating of "Hold" and an average target price of $131.29.

About Shake Shack

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, chicken, hot dogs, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. The company was founded in 2001 and is headquartered in New York, New York.