6,998 Shares in Shake Shack, Inc. (NYSE:SHAK) Purchased by XTX Topco Ltd

Key Points

• XTX Topco Ltd has acquired a new position in Shake Shack, purchasing 6,998 shares valued at approximately $617,000.
• Shake Shack's CFO and a director, Katherine Irene Fogertey and Daniel Harris Meyer, sold shares recently, resulting in a decrease of their ownership, which now stands at 9.73% for insiders.
• The company's recent earnings report showed a 12.6% year-over-year revenue increase, with an EPS of $0.44, exceeding analysts' expectations of $0.37.

XTX Topco Ltd purchased a new stake in Shake Shack, Inc. (NYSE:SHAK - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 6,998 shares of the company's stock, valued at approximately $617,000.

A number of other institutional investors have also recently modified their holdings of SHAK. Invesco Ltd. lifted its holdings in Shake Shack by 30.7% in the fourth quarter. Invesco Ltd. now owns 1,245,093 shares of the company's stock valued at $161,613,000 after acquiring an additional 292,348 shares during the period. Balyasny Asset Management L.P. boosted its position in Shake Shack by 17.7% during the fourth quarter. Balyasny Asset Management L.P. now owns 894,286 shares of the company's stock worth $116,078,000 after purchasing an additional 134,475 shares in the last quarter. Van Berkom & Associates Inc. grew its holdings in Shake Shack by 19.0% in the first quarter. Van Berkom & Associates Inc. now owns 785,594 shares of the company's stock valued at $69,266,000 after purchasing an additional 125,357 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Shake Shack by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 760,595 shares of the company's stock valued at $98,726,000 after purchasing an additional 19,320 shares during the last quarter. Finally, Wasatch Advisors LP increased its position in shares of Shake Shack by 1.8% in the fourth quarter. Wasatch Advisors LP now owns 566,425 shares of the company's stock valued at $73,522,000 after buying an additional 10,147 shares in the last quarter. 86.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Shake Shack news, Director Daniel Harris Meyer sold 20,000 shares of the firm's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $140.07, for a total value of $2,801,400.00. Following the sale, the director directly owned 367,984 shares in the company, valued at approximately $51,543,518.88. This trade represents a 5.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Katherine Irene Fogertey sold 3,956 shares of the company's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $127.49, for a total transaction of $504,350.44. Following the transaction, the chief financial officer owned 35,750 shares of the company's stock, valued at $4,557,767.50. This represents a 9.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 87,391 shares of company stock valued at $11,869,925 in the last 90 days. Insiders own 9.73% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Jefferies Financial Group lowered shares of Shake Shack from a "hold" rating to an "underperform" rating and boosted their price objective for the stock from $100.00 to $120.00 in a research report on Thursday, July 17th. Truist Financial raised their price objective on shares of Shake Shack from $150.00 to $160.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. JPMorgan Chase & Co. upped their target price on Shake Shack from $100.00 to $110.00 and gave the company an "underweight" rating in a research note on Wednesday, June 25th. Wells Fargo & Company upped their price objective on Shake Shack from $115.00 to $125.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Finally, TD Securities reiterated a "hold" rating and set a $105.00 price objective on shares of Shake Shack in a research report on Thursday, June 26th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Shake Shack presently has a consensus rating of "Hold" and an average target price of $131.29.

Shake Shack Stock Performance

SHAK traded down $0.76 during trading hours on Thursday, hitting $112.21. 1,007,825 shares of the stock were exchanged, compared to its average volume of 1,483,156. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.92 and a quick ratio of 1.89. Shake Shack, Inc. has a 12 month low of $72.93 and a 12 month high of $144.65. The stock has a 50-day simple moving average of $131.83 and a 200-day simple moving average of $111.83. The stock has a market cap of $4.79 billion, a price-to-earnings ratio of 243.94, a price-to-earnings-growth ratio of 2.59 and a beta of 1.82.

Shake Shack (NYSE:SHAK - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.07. The firm had revenue of $356.47 million for the quarter, compared to analyst estimates of $352.56 million. Shake Shack had a net margin of 1.50% and a return on equity of 9.78%. Shake Shack's quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.27 earnings per share. Analysts anticipate that Shake Shack, Inc. will post 1.26 earnings per share for the current year.

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.