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Rye Brook Capital LLC Reduces Position in Shake Shack Inc. (NYSE:SHAK)

Shake Shack logo with Retail/Wholesale background

Rye Brook Capital LLC reduced its stake in Shake Shack Inc. (NYSE:SHAK - Free Report) by 31.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,450 shares of the company's stock after selling 12,350 shares during the period. Shake Shack accounts for approximately 1.6% of Rye Brook Capital LLC's investment portfolio, making the stock its 17th biggest position. Rye Brook Capital LLC owned approximately 0.06% of Shake Shack worth $2,752,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. QRG Capital Management Inc. increased its holdings in shares of Shake Shack by 4.5% in the fourth quarter. QRG Capital Management Inc. now owns 3,711 shares of the company's stock valued at $275,000 after purchasing an additional 161 shares during the last quarter. Natixis Advisors L.P. increased its holdings in shares of Shake Shack by 3.8% in the third quarter. Natixis Advisors L.P. now owns 10,695 shares of the company's stock valued at $621,000 after purchasing an additional 388 shares during the last quarter. RFG Advisory LLC increased its holdings in shares of Shake Shack by 10.3% in the fourth quarter. RFG Advisory LLC now owns 4,401 shares of the company's stock valued at $326,000 after purchasing an additional 412 shares during the last quarter. GAMMA Investing LLC acquired a new position in shares of Shake Shack in the fourth quarter valued at $32,000. Finally, Ramirez Asset Management Inc. acquired a new position in shares of Shake Shack in the third quarter valued at about $35,000. 86.07% of the stock is currently owned by institutional investors and hedge funds.


Analyst Ratings Changes

Several research firms recently commented on SHAK. Robert W. Baird upped their price target on shares of Shake Shack from $102.00 to $105.00 and gave the company a "neutral" rating in a research note on Friday, May 3rd. TD Cowen restated a "buy" rating and issued a $125.00 price target on shares of Shake Shack in a research note on Thursday, June 13th. JPMorgan Chase & Co. upped their price target on shares of Shake Shack from $102.00 to $105.00 and gave the company an "underweight" rating in a research note on Monday, June 3rd. Barclays upped their price target on shares of Shake Shack from $92.00 to $108.00 and gave the company an "equal weight" rating in a research note on Friday, May 3rd. Finally, Wedbush upped their price target on shares of Shake Shack from $100.00 to $110.00 and gave the company a "neutral" rating in a research note on Friday, May 3rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $99.17.

Get Our Latest Report on SHAK

Insider Buying and Selling at Shake Shack

In other Shake Shack news, Director Jeffrey Flug sold 304 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $103.01, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 9.73% of the company's stock.

Shake Shack Price Performance

Shares of SHAK stock traded down $0.81 on Friday, reaching $89.01. The company had a trading volume of 1,060,897 shares, compared to its average volume of 684,555. The stock has a market capitalization of $3.77 billion, a PE ratio of 161.84, a price-to-earnings-growth ratio of 3.55 and a beta of 1.79. The company has a quick ratio of 1.99, a current ratio of 2.03 and a debt-to-equity ratio of 0.52. Shake Shack Inc. has a one year low of $52.79 and a one year high of $111.29. The business's 50-day moving average is $97.65 and its 200 day moving average is $89.86.

Shake Shack (NYSE:SHAK - Get Free Report) last posted its earnings results on Thursday, May 2nd. The company reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.03. The firm had revenue of $290.50 million during the quarter, compared to analysts' expectations of $291.00 million. Shake Shack had a net margin of 2.08% and a return on equity of 4.86%. The business's revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.01) earnings per share. Equities research analysts forecast that Shake Shack Inc. will post 0.74 EPS for the current fiscal year.

Shake Shack Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Shake Shack (NYSE:SHAK)

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