Engineers Gate Manager LP acquired a new stake in Shake Shack Inc (NYSE:SHAK) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 15,667 shares of the company’s stock, valued at approximately $677,000.
A number of other institutional investors and hedge funds have also made changes to their positions in SHAK. Cipher Capital LP acquired a new stake in shares of Shake Shack during the 3rd quarter valued at approximately $211,000. Municipal Employees Retirement System of Michigan raised its holdings in Shake Shack by 58.9% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 6,960 shares of the company’s stock valued at $231,000 after acquiring an additional 2,580 shares during the last quarter. Parametric Portfolio Associates LLC acquired a new position in Shake Shack in the 2nd quarter valued at $247,000. Voya Investment Management LLC grew its stake in shares of Shake Shack by 46.3% during the 2nd quarter. Voya Investment Management LLC now owns 9,277 shares of the company’s stock valued at $324,000 after buying an additional 2,934 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Shake Shack during the 2nd quarter valued at $362,000. 82.49% of the stock is currently owned by institutional investors.
A number of research firms have recently commented on SHAK. Barclays reissued an “equal weight” rating and issued a $49.00 target price (up previously from $36.00) on shares of Shake Shack in a report on Tuesday, January 16th. Jefferies Group downgraded shares of Shake Shack from a “hold” rating to an “underperform” rating and set a $36.00 price objective for the company. in a research report on Saturday, December 30th. Cowen raised their price objective on Shake Shack from $36.00 to $42.00 and gave the company a “market perform” rating in a research note on Tuesday, December 19th. Morgan Stanley raised Shake Shack from an “underweight” rating to an “equal weight” rating and reduced their target price for the company from $43.04 to $34.00 in a report on Thursday, December 7th. Finally, BidaskClub raised Shake Shack from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 14th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. Shake Shack has a consensus rating of “Hold” and a consensus target price of $38.94.
Shake Shack Inc (SHAK) opened at $39.22 on Tuesday. Shake Shack Inc has a twelve month low of $30.12 and a twelve month high of $47.39. The company has a market capitalization of $1,440.00, a PE ratio of 63.26, a PEG ratio of 3.19 and a beta of 1.33.
In other Shake Shack news, CEO Randall J. Garutti sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $37.24, for a total value of $297,920.00. Following the completion of the sale, the chief executive officer now owns 18,961 shares of the company’s stock, valued at $706,107.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jonathan D. Sokoloff sold 522,867 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $40.32, for a total value of $21,081,997.44. The disclosure for this sale can be found here. Insiders have sold 1,034,707 shares of company stock valued at $43,848,268 in the last three months. 34.91% of the stock is owned by insiders.
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Shake Shack Profile
Shake Shack Inc operates roadside burger stands. The Company serves an American menu of burgers, hot dogs, crispy chicken, frozen custard, crinkle cut fries, shakes, beer and wine, among others. The Company’s signature items are its all-natural, hormone and antibiotic-free burgers, hot dogs, crispy chicken, crinkle cut fries, shakes and frozen custard.
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