Los Angeles Capital Management LLC Lowers Holdings in Shake Shack Inc. (NYSE:SHAK)

Los Angeles Capital Management LLC reduced its stake in shares of Shake Shack Inc. (NYSE:SHAK) by 16.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,600 shares of the company’s stock after selling 1,095 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Shake Shack were worth $439,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in SHAK. Koshinski Asset Management Inc. acquired a new position in shares of Shake Shack in the third quarter valued at about $29,000. Advisory Services Network LLC acquired a new position in shares of Shake Shack in the second quarter valued at about $65,000. Shulman DeMeo Asset Management LLC acquired a new position in shares of Shake Shack in the third quarter valued at about $240,000. Xponance Inc. acquired a new position in shares of Shake Shack in the second quarter valued at about $255,000. Finally, HBK Sorce Advisory LLC purchased a new stake in shares of Shake Shack in the second quarter worth about $274,000. 80.84% of the stock is currently owned by institutional investors.

NYSE SHAK opened at $69.29 on Friday. The company has a market cap of $2.91 billion, a PE ratio of -138.58, a price-to-earnings-growth ratio of 83.15 and a beta of 1.52. The stock’s 50 day simple moving average is $75.54 and its 200-day simple moving average is $83.36. Shake Shack Inc. has a 1-year low of $65.25 and a 1-year high of $138.38. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.54 and a quick ratio of 3.51.

Shake Shack (NYSE:SHAK) last released its earnings results on Thursday, November 4th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.01. The business had revenue of $193.90 million for the quarter, compared to the consensus estimate of $197.47 million. Shake Shack had a positive return on equity of 0.19% and a negative net margin of 2.64%. The business’s quarterly revenue was up 48.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.11) earnings per share. On average, equities research analysts anticipate that Shake Shack Inc. will post -0.18 EPS for the current fiscal year.

A number of analysts have recently commented on SHAK shares. Morgan Stanley lowered their target price on Shake Shack from $87.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Friday. BTIG Research upgraded Shake Shack from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research note on Friday, November 5th. Truist Securities upped their target price on Shake Shack from $100.00 to $102.00 and gave the stock a “buy” rating in a research note on Wednesday. MKM Partners lowered their target price on Shake Shack from $103.00 to $83.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 2nd. Finally, Piper Sandler lowered their target price on Shake Shack from $131.00 to $100.00 and set an “overweight” rating on the stock in a research note on Monday, October 11th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $93.17.

Shake Shack Profile

Shake Shack, Inc operates as a holding company. The firm engages in operating fast food hamburger restaurants. It offers beef burgers, flat-top dogs, chicken sandwiches, frozen custard and crinkle cut fries and includes all the mobile ordering essentials. The company was founded by Daniel Harris Meyer on September 23, 2014 and is headquartered in New York, NY.

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

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