8,924 Shares in Shake Shack Inc. (NYSE:SHAK) Acquired by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. bought a new stake in Shake Shack Inc. (NYSE:SHAK - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,924 shares of the company's stock, valued at approximately $787,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its position in Shake Shack by 939.3% in the 1st quarter. Farther Finance Advisors LLC now owns 291 shares of the company's stock valued at $26,000 after buying an additional 263 shares during the last quarter. Princeton Global Asset Management LLC acquired a new position in Shake Shack in the 1st quarter valued at about $44,000. GAMMA Investing LLC increased its stake in shares of Shake Shack by 13,353.1% during the 1st quarter. GAMMA Investing LLC now owns 99,015 shares of the company's stock valued at $8,730,000 after acquiring an additional 98,279 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Shake Shack by 13.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,192 shares of the company's stock valued at $544,000 after acquiring an additional 489 shares during the last quarter. Finally, Jefferies Financial Group Inc. grew its holdings in shares of Shake Shack by 98.4% during the 4th quarter. Jefferies Financial Group Inc. now owns 21,819 shares of the company's stock worth $2,832,000 after purchasing an additional 10,819 shares during the period. Institutional investors and hedge funds own 86.07% of the company's stock.

Insider Buying and Selling at Shake Shack

In other news, Director Daniel Harris Meyer sold 10,000 shares of the company's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $130.10, for a total transaction of $1,301,000.00. Following the transaction, the director now directly owns 396,636 shares of the company's stock, valued at approximately $51,602,343.60. This represents a 2.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 30,180 shares of company stock worth $3,925,309 over the last 90 days. Company insiders own 9.73% of the company's stock.

Shake Shack Stock Down 3.4%

Shares of SHAK stock traded down $4.40 during midday trading on Friday, reaching $123.76. 966,416 shares of the stock were exchanged, compared to its average volume of 1,180,664. The company has a current ratio of 1.97, a quick ratio of 1.98 and a debt-to-equity ratio of 0.50. The firm has a market cap of $5.28 billion, a PE ratio of 538.09 and a beta of 1.77. The company's 50 day moving average is $105.61 and its two-hundred day moving average is $110.97. Shake Shack Inc. has a 1 year low of $72.93 and a 1 year high of $139.89.

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 for the quarter, missing the consensus estimate of $0.16 by ($0.02). Shake Shack had a net margin of 0.81% and a return on equity of 8.40%. The firm had revenue of $320.90 million for the quarter, compared to the consensus estimate of $330.24 million. During the same period in the previous year, the company earned $0.13 earnings per share. Shake Shack's quarterly revenue was up 10.5% compared to the same quarter last year. On average, equities research analysts predict that Shake Shack Inc. will post 1.26 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Shake Shack from $95.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Friday, May 30th. The Goldman Sachs Group boosted their price target on shares of Shake Shack from $120.00 to $145.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Truist Financial lifted their target price on Shake Shack from $134.00 to $140.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. BTIG Research cut Shake Shack from a "buy" rating to a "neutral" rating in a research note on Monday, June 2nd. Finally, UBS Group reduced their target price on Shake Shack from $140.00 to $100.00 and set a "neutral" rating for the company in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Shake Shack has an average rating of "Hold" and a consensus price target of $115.40.

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.