Paloma Partners Management Co Purchases New Shares in Shake Shack Inc. (NYSE:SHAK)

Paloma Partners Management Co purchased a new stake in shares of Shake Shack Inc. (NYSE:SHAK) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 180,464 shares of the company’s stock, valued at approximately $18,626,000. Shake Shack makes up 0.5% of Paloma Partners Management Co’s investment portfolio, making the stock its 25th largest position. Paloma Partners Management Co owned approximately 0.42% of Shake Shack at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in SHAK. Quest Partners LLC bought a new position in Shake Shack during the 2nd quarter valued at $38,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Shake Shack in the 3rd quarter worth about $41,000. Kimelman & Baird LLC bought a new position in shares of Shake Shack in the 2nd quarter worth about $45,000. Covestor Ltd lifted its position in shares of Shake Shack by 41.6% in the 3rd quarter. Covestor Ltd now owns 698 shares of the company’s stock worth $72,000 after buying an additional 205 shares during the last quarter. Finally, CWM LLC lifted its position in shares of Shake Shack by 24.7% in the 2nd quarter. CWM LLC now owns 1,046 shares of the company’s stock worth $94,000 after buying an additional 207 shares during the last quarter. 86.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SHAK shares. TD Cowen restated a “buy” rating and issued a $125.00 price target on shares of Shake Shack in a research report on Wednesday, September 18th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $102.00 price target (down from $105.00) on shares of Shake Shack in a research report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $115.00 price target on shares of Shake Shack in a research report on Wednesday, August 28th. Truist Financial raised their price target on shares of Shake Shack from $127.00 to $144.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Barclays raised their price target on shares of Shake Shack from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Two equities 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, Shake Shack presently has an average rating of “Hold” and an average price target of $112.94.

Shake Shack Stock Up 1.0 %

Shake Shack stock opened at $133.73 on Monday. The stock has a market cap of $5.68 billion, a price-to-earnings ratio of 786.65, a PEG ratio of 3.04 and a beta of 1.81. The company has a current ratio of 2.01, a quick ratio of 1.98 and a debt-to-equity ratio of 0.51. The company’s 50-day moving average price is $116.51 and its two-hundred day moving average price is $102.36. Shake Shack Inc. has a 52 week low of $59.94 and a 52 week high of $134.90.

Shake Shack (NYSE:SHAK) last released its earnings results on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.20 by $0.05. The firm had revenue of $316.92 million for the quarter, compared to analysts’ expectations of $316.03 million. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. Shake Shack’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the company earned $0.17 EPS. On average, analysts expect that Shake Shack Inc. will post 0.82 EPS for the current fiscal year.

Insider Transactions at Shake Shack

In other news, Director Daniel Harris Meyer sold 22,691 shares of Shake Shack stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $124.47, for a total value of $2,824,348.77. Following the transaction, the director now directly owns 437,646 shares of the company’s stock, valued at $54,473,797.62. This trade represents a 4.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Katherine Irene Fogertey sold 321 shares of Shake Shack stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $103.93, for a total transaction of $33,361.53. Following the completion of the transaction, the chief financial officer now directly owns 36,180 shares in the company, valued at approximately $3,760,187.40. This trade represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 63,433 shares of company stock valued at $7,654,856 in the last quarter. Insiders own 9.73% of the company’s stock.

Shake Shack Profile

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.