Linonia Partnership LP Buys Shares of 553,772 Shake Shack Inc. (NYSE:SHAK)

Linonia Partnership LP bought a new stake in Shake Shack Inc. (NYSE:SHAK - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 553,772 shares of the company's stock, valued at approximately $41,046,000. Shake Shack makes up 5.4% of Linonia Partnership LP's holdings, making the stock its 6th largest position. Linonia Partnership LP owned 1.31% of Shake Shack at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new position in shares of Shake Shack during the fourth quarter worth $32,000. Ramirez Asset Management Inc. acquired a new position in shares of Shake Shack during the third quarter worth $35,000. C M Bidwell & Associates Ltd. acquired a new position in shares of Shake Shack during the second quarter worth $39,000. Natixis acquired a new position in shares of Shake Shack during the fourth quarter worth $53,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Shake Shack by 67.9% during the first quarter. Tower Research Capital LLC TRC now owns 989 shares of the company's stock worth $55,000 after purchasing an additional 400 shares during the period. Institutional investors and hedge funds own 86.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SHAK shares. Wedbush reiterated a "neutral" rating and set a $80.00 price target on shares of Shake Shack in a report on Wednesday, February 14th. HSBC assumed coverage on shares of Shake Shack in a research note on Wednesday, December 20th. They set a "hold" rating and a $74.00 target price for the company. UBS Group lifted their target price on shares of Shake Shack from $80.00 to $88.00 and gave the stock a "neutral" rating in a research note on Monday, February 12th. Robert W. Baird lifted their price target on shares of Shake Shack from $67.00 to $82.00 and gave the company a "neutral" rating in a research note on Tuesday, February 13th. Finally, Raymond James lifted their price target on shares of Shake Shack from $90.00 to $115.00 and gave the company a "strong-buy" rating in a research note on Friday, February 16th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $86.39.

Shake Shack Stock Up 1.2 %

Shake Shack stock traded up $1.25 during midday trading on Monday, hitting $102.49. 472,557 shares of the stock were exchanged, compared to its average volume of 1,000,665. The business's 50-day moving average price is $96.59 and its 200-day moving average price is $74.96. The company has a quick ratio of 2.01, a current ratio of 2.04 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $4.34 billion, a price-to-earnings ratio of 222.80, a price-to-earnings-growth ratio of 3.82 and a beta of 1.80. Shake Shack Inc. has a 52-week low of $52.64 and a 52-week high of $110.90.

Shake Shack (NYSE:SHAK - Get Free Report) last posted its earnings results on Thursday, February 15th. The company reported $0.02 earnings per share for the quarter. The business had revenue of $286.20 million for the quarter, compared to analyst estimates of $280.45 million. Shake Shack had a net margin of 1.82% and a return on equity of 3.67%. Shake Shack's revenue was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.06) EPS. On average, research analysts expect that Shake Shack Inc. will post 0.71 EPS for the current fiscal year.

Insider Transactions at Shake Shack

In other news, Director Daniel Harris Meyer sold 30,000 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $95.25, for a total value of $2,857,500.00. Following the transaction, the director now owns 550,437 shares of the company's stock, valued at approximately $52,429,124.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Jeffrey Flug sold 304 shares of the company's stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $103.01, for a total value of $31,315.04. Following the completion of the sale, the director now owns 3,754 shares of the company's stock, valued at approximately $386,699.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel Harris Meyer sold 30,000 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $95.25, for a total transaction of $2,857,500.00. Following the sale, the director now directly owns 550,437 shares of the company's stock, valued at approximately $52,429,124.25. The disclosure for this sale can be found here. Insiders have sold 100,912 shares of company stock valued at $10,201,834 in the last quarter. Insiders own 10.06% of the company's stock.

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.

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