MIG Capital LLC Buys Shares of 102,504 Shake Shack, Inc. $SHAK

Key Points

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MIG Capital LLC bought a new stake in Shake Shack, Inc. (NYSE:SHAK - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 102,504 shares of the company's stock, valued at approximately $9,038,000. Shake Shack comprises 1.1% of MIG Capital LLC's holdings, making the stock its 20th biggest holding. MIG Capital LLC owned approximately 0.24% of Shake Shack as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Driehaus Capital Management LLC acquired a new position in shares of Shake Shack during the fourth quarter valued at $66,349,000. Nuveen LLC acquired a new position in shares of Shake Shack during the first quarter valued at $42,802,000. Ameriprise Financial Inc. increased its holdings in shares of Shake Shack by 204.0% during the fourth quarter. Ameriprise Financial Inc. now owns 324,109 shares of the company's stock valued at $42,064,000 after purchasing an additional 217,493 shares during the period. Balyasny Asset Management L.P. increased its holdings in shares of Shake Shack by 17.7% during the fourth quarter. Balyasny Asset Management L.P. now owns 894,286 shares of the company's stock valued at $116,078,000 after purchasing an additional 134,475 shares during the period. Finally, Interval Partners LP acquired a new position in shares of Shake Shack during the fourth quarter valued at $16,788,000. 86.07% of the stock is currently owned by institutional investors.

Shake Shack Trading Down 2.0%

Shares of NYSE SHAK opened at $104.78 on Tuesday. Shake Shack, Inc. has a one year low of $72.93 and a one year high of $144.65. The firm has a market capitalization of $4.47 billion, a PE ratio of 227.79, a PEG ratio of 2.43 and a beta of 1.82. The company has a current ratio of 1.92, a quick ratio of 1.89 and a debt-to-equity ratio of 0.48. The business has a 50-day moving average price of $128.88 and a two-hundred day moving average price of $111.07.

Shake Shack (NYSE:SHAK - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.07. The firm had revenue of $356.47 million during the quarter, compared to analyst estimates of $352.56 million. Shake Shack had a return on equity of 9.78% and a net margin of 1.50%. The business's quarterly revenue was up 12.6% compared to the same quarter last year. During the same period last year, the company posted $0.27 EPS. As a group, analysts predict that Shake Shack, Inc. will post 1.26 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Daniel Harris Meyer sold 14,200 shares of Shake Shack 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 directly owned 337,984 shares in the company, valued at $47,422,535.04. The trade was a 4.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Katherine Irene Fogertey sold 670 shares of Shake Shack stock in a transaction dated 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. This represents a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 87,211 shares of company stock valued at $11,849,216. 8.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

SHAK has been the topic of a number of research analyst reports. Loop Capital reaffirmed a "hold" rating and set a $127.00 target price on shares of Shake Shack in a report on Tuesday, July 8th. Oppenheimer reaffirmed an "outperform" rating and set a $160.00 target price (up from $125.00) on shares of Shake Shack in a report on Thursday, June 26th. Jefferies Financial Group lowered Shake Shack from a "hold" rating to an "underperform" rating and lifted their target price for the stock from $100.00 to $120.00 in a report on Thursday, July 17th. Barclays lowered their target price on Shake Shack from $168.00 to $160.00 and set an "overweight" rating on the stock in a report on Friday, August 1st. Finally, Truist Financial increased their price target on Shake Shack from $150.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $131.29.

Shake Shack 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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