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Los Angeles Capital Management LLC Increases Position in Shake Shack Inc. (NYSE:SHAK)

Shake Shack logo with Retail/Wholesale background

Los Angeles Capital Management LLC raised its holdings in Shake Shack Inc. (NYSE:SHAK - Free Report) by 190.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,532 shares of the company's stock after acquiring an additional 10,840 shares during the period. Los Angeles Capital Management LLC's holdings in Shake Shack were worth $1,720,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC bought a new position in shares of Shake Shack during the fourth quarter valued at $32,000. Ramirez Asset Management Inc. acquired a new position in shares of Shake Shack in the third quarter worth approximately $35,000. C M Bidwell & Associates Ltd. boosted its holdings in Shake Shack by 122.6% in the third quarter. C M Bidwell & Associates Ltd. now owns 1,111 shares of the company's stock valued at $65,000 after acquiring an additional 612 shares during the last quarter. AdvisorShares Investments LLC raised its holdings in Shake Shack by 533.8% during the 4th quarter. AdvisorShares Investments LLC now owns 1,781 shares of the company's stock worth $132,000 after purchasing an additional 1,500 shares during the last quarter. Finally, QRG Capital Management Inc. acquired a new stake in shares of Shake Shack during the third quarter worth $206,000. Institutional investors own 86.07% of the company's stock.

Insider Activity

In other news, Director Jeffrey Flug sold 304 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $103.01, for a total value of $31,315.04. Following the completion of the transaction, 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 can be accessed through this hyperlink. Insiders own 9.73% of the company's stock.


Wall Street Analyst Weigh In

SHAK has been the topic of several research reports. TD Cowen reissued a "buy" rating and issued a $125.00 price target on shares of Shake Shack in a research report on Thursday, June 13th. Truist Financial upped their target price on shares of Shake Shack from $115.00 to $124.00 and gave the stock a "buy" rating in a report on Friday, May 3rd. Morgan Stanley lifted their price target on Shake Shack from $88.00 to $105.00 and gave the company an "equal weight" rating in a research note on Friday, April 12th. The Goldman Sachs Group initiated coverage on Shake Shack in a report on Thursday, June 13th. They set a "buy" rating and a $110.00 price objective for the company. Finally, Wedbush raised their target price on Shake Shack from $100.00 to $110.00 and gave the company a "neutral" rating in a report on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $99.17.

Check Out Our Latest Research Report on Shake Shack

Shake Shack Price Performance

Shares of NYSE SHAK traded down $0.81 during mid-day trading on Friday, reaching $89.01. 1,060,897 shares of the company were exchanged, compared to its average volume of 684,555. The company's 50 day moving average price is $97.65 and its 200 day moving average price is $90.05. Shake Shack Inc. has a 52 week low of $52.79 and a 52 week high of $111.29. The company has a quick ratio of 1.99, a current ratio of 2.03 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $3.77 billion, a PE ratio of 161.84, a PEG ratio of 3.55 and a beta of 1.79.

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

About Shake Shack

(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.

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

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