Virtu Financial LLC Makes New $557,000 Investment in Shake Shack, Inc. (NYSE:SHAK)

Key Points

• Virtu Financial LLC invested approximately $557,000 in Shake Shack, acquiring 6,318 shares, according to its recent 13F SEC filing.
• The market consensus for Shake Shack stock is a "Hold" rating, with a projected average price target of $131.29 from various analysts.
• Shake Shack's recent quarterly earnings showed a revenue of $356.47 million, exceeding estimates and reflecting a 12.6% increase compared to the previous year.

Virtu Financial LLC purchased a new stake in Shake Shack, Inc. (NYSE:SHAK - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 6,318 shares of the company's stock, valued at approximately $557,000.

Other hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC grew its stake in Shake Shack by 939.3% in the first quarter. Farther Finance Advisors LLC now owns 291 shares of the company's stock valued at $26,000 after purchasing an additional 263 shares during the last quarter. Garde Capital Inc. bought a new stake in shares of Shake Shack in the 1st quarter valued at about $35,000. Princeton Global Asset Management LLC bought a new stake in shares of Shake Shack in the 1st quarter valued at about $44,000. Cooper Investors PTY Ltd. purchased a new position in shares of Shake Shack in the 1st quarter worth approximately $44,000. Finally, SRH Advisors LLC bought a new position in shares of Shake Shack during the 1st quarter worth approximately $44,000. Hedge funds and other institutional investors own 86.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SHAK. The Goldman Sachs Group raised their target price on shares of Shake Shack from $120.00 to $145.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Robert W. Baird raised their price objective on Shake Shack from $85.00 to $90.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Bank of America upped their target price on Shake Shack from $134.00 to $148.00 and gave the company a "neutral" rating in a research report on Friday, July 18th. Jefferies Financial Group cut Shake Shack from a "hold" rating to an "underperform" rating and increased their price target for the company from $100.00 to $120.00 in a research note on Thursday, July 17th. Finally, JPMorgan Chase & Co. boosted their price target on Shake Shack from $100.00 to $110.00 and gave the stock an "underweight" rating in a research note on Wednesday, June 25th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $131.29.

Shake Shack Stock Down 1.9%

Shares of SHAK opened at $108.20 on Thursday. The company has a market capitalization of $4.62 billion, a price-to-earnings ratio of 235.22, a PEG ratio of 2.51 and a beta of 1.82. Shake Shack, Inc. has a 52 week low of $72.93 and a 52 week high of $144.65. The stock's 50-day moving average price is $130.18 and its 200-day moving average price is $111.47. The company has a quick ratio of 1.89, a current ratio of 1.92 and a debt-to-equity ratio of 0.48.

Shake Shack (NYSE:SHAK - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.37 by $0.07. The business had revenue of $356.47 million for 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 quarter in the prior year, the firm posted $0.27 EPS. On average, sell-side analysts predict that Shake Shack, Inc. will post 1.26 EPS for the current year.

Insiders Place Their Bets

In other Shake Shack news, CFO Katherine Irene Fogertey sold 670 shares of Shake Shack stock in a transaction 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction, the director owned 337,984 shares of the company's stock, valued at approximately $47,422,535.04. This trade represents a 4.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 87,211 shares of company stock worth $11,849,216 over the last three months. 8.50% of the stock is currently owned by insiders.

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.

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