Shake Shack Inc. (NYSE:SHAK) Shares Purchased by Summit Financial LLC

Summit Financial LLC boosted its position in Shake Shack Inc. (NYSE:SHAK) by 9.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,862 shares of the company’s stock after buying an additional 1,024 shares during the quarter. Summit Financial LLC’s holdings in Shake Shack were worth $879,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new stake in Shake Shack during the fourth quarter worth about $32,000. Ramirez Asset Management Inc. acquired a new stake in Shake Shack during the third quarter worth about $35,000. C M Bidwell & Associates Ltd. grew its position in Shake Shack by 122.6% in the 3rd quarter. C M Bidwell & Associates Ltd. now owns 1,111 shares of the company’s stock worth $65,000 after purchasing an additional 612 shares during the last quarter. QRG Capital Management Inc. bought a new position in Shake Shack in the 3rd quarter worth about $206,000. Finally, Aigen Investment Management LP bought a new position in Shake Shack in the 3rd quarter worth about $216,000. Institutional investors and hedge funds own 86.07% of the company’s stock.

Shake Shack Trading Up 0.1 %

Shares of SHAK stock opened at $105.00 on Friday. Shake Shack Inc. has a 12-month low of $52.79 and a 12-month high of $110.90. The company has a market capitalization of $4.44 billion, a P/E ratio of 228.30, a P/E/G ratio of 3.72 and a beta of 1.78. The firm has a 50-day moving average price of $102.18 and a 200 day moving average price of $80.05. The company has a quick ratio of 2.01, a current ratio of 2.04 and a debt-to-equity ratio of 0.52.

Shake Shack (NYSE:SHAK) last announced 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 1.82% and a return on equity of 3.67%. The firm had revenue of $290.50 million during the quarter, compared to the consensus estimate of $291.00 million. During the same period last year, the firm posted ($0.01) EPS. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. Research analysts forecast that Shake Shack Inc. will post 0.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Shake Shack news, Director Daniel Harris Meyer sold 30,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 550,437 shares of the company’s stock, valued at $52,429,124.25. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Daniel Harris Meyer sold 30,000 shares of Shake Shack stock in a transaction that occurred 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 completion of the sale, the director now owns 550,437 shares in the company, valued at approximately $52,429,124.25. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jeffrey Flug sold 304 shares of the business’s 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 transaction, the director now owns 3,754 shares of the company’s stock, valued at approximately $386,699.54. The disclosure for this sale can be found here. Over the last three months, insiders sold 100,760 shares of company stock valued at $10,190,420. Insiders own 10.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SHAK shares. UBS Group increased their price objective on shares of Shake Shack from $80.00 to $88.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Wedbush restated a “neutral” rating and set a $80.00 target price on shares of Shake Shack in a report on Wednesday, February 14th. Truist Financial upped their price target on shares of Shake Shack from $112.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Morgan Stanley upped their price target on shares of Shake Shack from $88.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday, April 12th. Finally, BTIG Research upped their price target on shares of Shake Shack from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $89.94.

About Shake Shack

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.