Delta Global Management LP Purchases Shares of 21,024 Shake Shack, Inc. $SHAK

Delta Global Management LP purchased a new stake in shares of Shake Shack, Inc. (NYSE:SHAK - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 21,024 shares of the company's stock, valued at approximately $1,860,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Intech Investment Management LLC grew its position in Shake Shack by 40.1% in the 4th quarter. Intech Investment Management LLC now owns 77,916 shares of the company's stock valued at $6,324,000 after buying an additional 22,287 shares in the last quarter. Jefferies Financial Group Inc. acquired a new stake in shares of Shake Shack in the 4th quarter worth approximately $2,898,000. Madison Asset Management LLC boosted its holdings in shares of Shake Shack by 37.3% in the fourth quarter. Madison Asset Management LLC now owns 58,404 shares of the company's stock valued at $4,741,000 after acquiring an additional 15,852 shares in the last quarter. Swedbank AB acquired a new position in shares of Shake Shack during the fourth quarter valued at approximately $84,092,000. Finally, D.A. Davidson & CO. raised its holdings in Shake Shack by 115.5% during the fourth quarter. D.A. Davidson & CO. now owns 24,276 shares of the company's stock worth $1,970,000 after purchasing an additional 13,013 shares in the last quarter. 86.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SHAK. UBS Group reiterated a "neutral" rating and set a $79.00 price target on shares of Shake Shack in a research report on Wednesday, June 3rd. Jefferies Financial Group reaffirmed a "hold" rating and issued a $66.00 price target on shares of Shake Shack in a report on Tuesday, June 2nd. Piper Sandler reduced 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. Oppenheimer set a $82.00 target price on shares of Shake Shack and gave the stock an "outperform" rating in a report on Tuesday, June 2nd. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of Shake Shack in a research report on Friday, May 8th. Fifteen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Shake Shack has an average rating of "Hold" and an average target price of $89.39.

Shake Shack Stock Performance

Shares of Shake Shack stock opened at $57.09 on Monday. Shake Shack, Inc. has a 12 month low of $51.60 and a 12 month high of $142.20. The company has a quick ratio of 1.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.45. The stock has a market cap of $2.44 billion, a PE ratio of 58.25, a price-to-earnings-growth ratio of 4.41 and a beta of 1.63. The business has a fifty day simple moving average of $57.99 and a 200-day simple moving average of $79.94.

Insider Transactions at Shake Shack

In other Shake Shack news, Director Sumaiya Balbale acquired 4,068 shares of the firm's stock in a transaction on Friday, May 15th. The stock was purchased at an average cost of $61.42 per share, for a total transaction of $249,856.56. Following the transaction, the director owned 13,407 shares of the company's stock, valued at $823,457.94. The trade was a 43.56% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Josh Silverman bought 8,290 shares of the stock in a transaction on Friday, May 15th. The shares were acquired at an average cost of $60.38 per share, for a total transaction of $500,550.20. Following the purchase, the director owned 8,290 shares in the company, valued at approximately $500,550.20. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders bought 50,616 shares of company stock worth $3,109,782. 8.32% of the stock is currently owned by company insiders.

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.

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