Y Intercept Hong Kong Ltd Makes New Investment in Shake Shack, Inc. (NYSE:SHAK)

Key Points

• Y Intercept Hong Kong Ltd acquired a new stake in Shake Shack, Inc. during the first quarter, purchasing 10,688 shares valued at approximately $942,000.
• Shake Shack's CFO and a director recently sold shares, with insider sales totaling $11.87 million over the last quarter, indicating a 9.73% insider ownership post-transactions.
• Shake Shack reported earnings of $0.14 per share for the last quarter, missing analysts' expectations, while the company's revenue increased 10.5% year-over-year.

Y Intercept Hong Kong Ltd bought a new position in Shake Shack, Inc. (NYSE:SHAK - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 10,688 shares of the company's stock, valued at approximately $942,000.

A number of other institutional investors and hedge funds have also modified their holdings of SHAK. Driehaus Capital Management LLC bought a new stake in shares of Shake Shack in the fourth quarter worth $66,349,000. Invesco Ltd. grew its holdings in shares of Shake Shack by 30.7% in the fourth 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 during the period. Ameriprise Financial Inc. grew its holdings in shares of Shake Shack by 204.0% in the fourth 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 during the period. Balyasny Asset Management L.P. grew its holdings in shares of Shake Shack by 17.7% in the fourth 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 during the period. Finally, Interval Partners LP bought a new stake in shares of Shake Shack in the fourth quarter worth $16,788,000. Institutional investors own 86.07% of the company's stock.

Shake Shack Price Performance

Shares of Shake Shack stock traded down $3.15 during trading hours on Tuesday, hitting $135.04. The company's stock had a trading volume of 218,330 shares, compared to its average volume of 1,397,415. The business has a 50 day moving average price of $131.78 and a two-hundred day moving average price of $111.56. Shake Shack, Inc. has a 12-month low of $72.93 and a 12-month high of $144.65. The company has a market cap of $5.76 billion, a PE ratio of 482.64, a PEG ratio of 3.22 and a beta of 1.77. 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 the consensus estimate of $0.16 by ($0.02). Shake Shack had a net margin of 0.97% and a return on equity of 8.45%. The business had revenue of $320.90 million during the quarter, compared to analysts' expectations of $330.24 million. During the same quarter in the previous year, the firm earned $0.13 earnings per share. Shake Shack's revenue was up 10.5% on a year-over-year basis. Analysts expect that Shake Shack, Inc. will post 1.26 earnings per share for the current fiscal year.

Insider Transactions at Shake Shack

In other Shake Shack news, CFO Katherine Irene Fogertey sold 670 shares of Shake Shack stock in a transaction that occurred on Tuesday, July 8th. The stock was 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 $4,550,274.85. The trade was a 2.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Daniel Harris Meyer sold 14,200 shares of Shake Shack stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $140.31, for a total value of $1,992,402.00. Following the completion of the sale, the director directly owned 337,984 shares in the company, valued at approximately $47,422,535.04. The trade was a 4.03% decrease in their position. The disclosure for this sale can be found here. Insiders sold 87,391 shares of company stock worth $11,869,925 over the last quarter. 9.73% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently commented on SHAK. KeyCorp began coverage on Shake Shack in a report on Monday, June 2nd. They issued a "sector weight" rating for the company. Truist Financial lifted their price objective on Shake Shack from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Sanford C. Bernstein set a $166.00 price objective on Shake Shack and gave the stock an "overweight" rating in a report on Thursday, June 26th. Wells Fargo & Company lifted their price objective on Shake Shack from $115.00 to $125.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Finally, JPMorgan Chase & Co. lifted their price objective on Shake Shack from $100.00 to $110.00 and gave the stock an "underweight" rating in a report on Wednesday, June 25th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company 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.