Neo Ivy Capital Management Invests $2.10 Million in Shake Shack, Inc. (NYSE:SHAK)

Key Points

• Neo Ivy Capital Management acquired a new $2.10 million stake in Shake Shack, purchasing 23,772 shares in the first quarter.
• Shake Shack's stock has seen interest from several institutional investors, with Vanguard Group Inc. and Invesco Ltd. making significant purchases and increasing their stakes in recent months.
• Analyst ratings for Shake Shack include a price target increase by Goldman Sachs from $120 to $145, indicating a growing optimism about the company's future performance.

Neo Ivy Capital Management purchased a new stake in Shake Shack, Inc. (NYSE:SHAK - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund purchased 23,772 shares of the company's stock, valued at approximately $2,096,000. Neo Ivy Capital Management owned about 0.06% of Shake Shack as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of SHAK. Driehaus Capital Management LLC bought a new position in Shake Shack in the 4th quarter worth about $66,349,000. Invesco Ltd. grew its stake in Shake Shack by 30.7% in the 4th quarter. Invesco Ltd. now owns 1,245,093 shares of the company's stock worth $161,613,000 after acquiring an additional 292,348 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Shake Shack by 204.0% in the 4th quarter. Ameriprise Financial Inc. now owns 324,109 shares of the company's stock worth $42,064,000 after acquiring an additional 217,493 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in Shake Shack by 17.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 894,286 shares of the company's stock worth $116,078,000 after acquiring an additional 134,475 shares in the last quarter. Finally, Interval Partners LP bought a new position in Shake Shack in the 4th quarter worth about $16,788,000. 86.07% of the stock is currently owned by institutional investors.

Insider Transactions at Shake Shack

In related news, CFO Katherine Irene Fogertey sold 670 shares of the firm's 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 directly owned 32,495 shares of the company's stock, valued at approximately $4,550,274.85. This trade represents a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel Harris Meyer sold 14,200 shares of the firm's stock in a transaction that occurred on 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. This represents a 4.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 87,391 shares of company stock worth $11,869,925. 9.73% of the stock is owned by corporate insiders.

Shake Shack Trading Down 1.1%

Shares of Shake Shack stock traded down $1.55 on Tuesday, reaching $136.63. The company had a trading volume of 350,738 shares, compared to its average volume of 1,397,820. The firm's 50 day moving average price is $131.78 and its two-hundred day moving average price is $111.56. The firm has a market cap of $5.83 billion, a PE ratio of 487.70, a PEG ratio of 3.22 and a beta of 1.77. Shake Shack, Inc. has a 52-week low of $72.93 and a 52-week high of $144.65. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.88 and a current ratio of 1.91.

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SHAK. KeyCorp began coverage on shares of Shake Shack in a research report on Monday, June 2nd. They issued a "sector weight" rating for the company. Robert W. Baird increased their target price on shares of Shake Shack from $85.00 to $90.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Barclays increased their target price on shares of Shake Shack from $166.00 to $168.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. BTIG Research lowered shares of Shake Shack from a "buy" rating to a "neutral" rating in a research note on Monday, June 2nd. Finally, Bank of America upped their price target on shares of Shake Shack from $134.00 to $148.00 and gave the company a "neutral" rating in a research note on Friday, July 18th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $128.68.

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.