Linonia Partnership LP Has $22.37 Million Stake in Shake Shack Inc. (NYSE:SHAK)

Linonia Partnership LP trimmed its holdings in shares of Shake Shack Inc. (NYSE:SHAK - Free Report) by 64.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 172,305 shares of the company's stock after selling 311,000 shares during the period. Shake Shack comprises 1.2% of Linonia Partnership LP's investment portfolio, making the stock its 9th largest position. Linonia Partnership LP owned 0.41% of Shake Shack worth $22,365,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SHAK. Nemes Rush Group LLC purchased a new position in Shake Shack in the 4th quarter worth approximately $29,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Shake Shack in the fourth quarter valued at $32,000. Transcendent Capital Group LLC acquired a new stake in Shake Shack during the 4th quarter valued at $52,000. R Squared Ltd purchased a new stake in Shake Shack during the 4th quarter worth $56,000. Finally, Montag & Caldwell LLC acquired a new position in Shake Shack in the 4th quarter worth $68,000. 86.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the company. Barclays upgraded Shake Shack from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $125.00 to $159.00 in a research note on Tuesday, January 7th. TD Securities restated a "buy" rating and issued a $140.00 price target on shares of Shake Shack in a research note on Friday, February 21st. UBS Group raised their price objective on shares of Shake Shack from $130.00 to $140.00 and gave the stock a "neutral" rating in a report on Tuesday, January 7th. Loop Capital raised shares of Shake Shack from a "hold" rating to a "buy" rating and set a $127.00 target price for the company in a research report on Tuesday, April 1st. Finally, JPMorgan Chase & Co. reduced their price target on shares of Shake Shack from $107.00 to $105.00 and set an "underweight" rating on the stock in a research report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Shake Shack currently has a consensus rating of "Moderate Buy" and a consensus target price of $122.19.

Shake Shack Stock Performance

Shares of SHAK stock traded up $3.62 during trading on Tuesday, reaching $86.12. The company had a trading volume of 284,642 shares, compared to its average volume of 1,063,638. Shake Shack Inc. has a one year low of $72.93 and a one year high of $139.89. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.97 and a quick ratio of 1.98. The firm's 50 day simple moving average is $93.47 and its two-hundred day simple moving average is $112.56. The company has a market capitalization of $3.66 billion, a PE ratio of 375.41 and a beta of 1.80.

Shake Shack (NYSE:SHAK - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.25 by $0.01. The firm had revenue of $328.68 million for the quarter, compared to the consensus estimate of $329.02 million. Shake Shack had a net margin of 0.81% and a return on equity of 8.40%. Sell-side analysts forecast 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.