Concurrent Investment Advisors LLC Acquires New Shares in Shake Shack, Inc. (NYSE:SHAK)

Concurrent Investment Advisors LLC acquired a new stake in shares of Shake Shack, Inc. (NYSE:SHAK - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,924 shares of the company's stock, valued at approximately $346,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its position in Shake Shack by 939.3% during the 1st quarter. Farther Finance Advisors LLC now owns 291 shares of the company's stock worth $26,000 after acquiring an additional 263 shares during the period. Nemes Rush Group LLC acquired a new position in Shake Shack during the 4th quarter worth $29,000. Harvest Fund Management Co. Ltd acquired a new position in Shake Shack during the 4th quarter worth $32,000. Garde Capital Inc. acquired a new position in Shake Shack during the 1st quarter worth $35,000. Finally, Princeton Global Asset Management LLC acquired a new position in Shake Shack during the 1st quarter worth $44,000. Institutional investors and hedge funds own 86.07% of the company's stock.

Insider Activity

In other news, Director Daniel Harris Meyer sold 14,200 shares of the company's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $140.31, for a total transaction of $1,992,402.00. Following the completion of the sale, the director owned 337,984 shares in the company, valued at approximately $47,422,535.04. This represents a 4.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Katherine Irene Fogertey sold 670 shares of the stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $140.03, for a total value of $93,820.10. Following the sale, the chief financial officer owned 32,495 shares of the company's stock, valued at approximately $4,550,274.85. The trade was a 2.02% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 87,391 shares of company stock valued at $11,869,925. 9.73% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

SHAK has been the topic of a number of research reports. Barclays boosted their price objective on Shake Shack from $102.00 to $166.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Wells Fargo & Company boosted their target price on Shake Shack from $95.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Friday, May 30th. Truist Financial boosted their target price on Shake Shack from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Wednesday. Sanford C. Bernstein set a $166.00 target price on Shake Shack and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $160.00 target price (up from $125.00) on shares of Shake Shack in a research report on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Shake Shack presently has a consensus rating of "Hold" and an average price target of $124.90.

Shake Shack Stock Performance

Shares of NYSE SHAK opened at $139.91 on Friday. The business's 50-day moving average price is $125.84 and its two-hundred day moving average price is $111.48. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.91 and a quick ratio of 1.88. Shake Shack, Inc. has a one year low of $72.93 and a one year high of $144.65. The company has a market capitalization of $5.97 billion, a P/E ratio of 499.68, a price-to-earnings-growth ratio of 3.35 and a beta of 1.77.

Shake Shack (NYSE:SHAK - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.02). The company had revenue of $320.90 million for the quarter, compared to the consensus estimate of $330.24 million. Shake Shack had a return on equity of 8.45% and a net margin of 0.97%. The business's revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.13 EPS. Analysts anticipate that Shake Shack, Inc. will post 1.26 earnings per share for the current fiscal year.

Shake Shack Company Profile

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.

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