Quantbot Technologies LP Acquires 50,426 Shares of Shake Shack Inc. (NYSE:SHAK)

Quantbot Technologies LP raised its holdings in Shake Shack Inc. (NYSE:SHAK) by 1,524.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 53,734 shares of the company’s stock after buying an additional 50,426 shares during the quarter. Quantbot Technologies LP owned about 0.13% of Shake Shack worth $4,836,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Shake Shack during the first quarter valued at approximately $25,000. Quest Partners LLC purchased a new stake in shares of Shake Shack in the 2nd quarter worth about $38,000. Covestor Ltd lifted its position in Shake Shack by 32,150.0% in the 1st quarter. Covestor Ltd now owns 645 shares of the company’s stock valued at $67,000 after acquiring an additional 643 shares in the last quarter. CWM LLC boosted its stake in Shake Shack by 24.7% during the 2nd quarter. CWM LLC now owns 1,046 shares of the company’s stock valued at $94,000 after purchasing an additional 207 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Shake Shack in the first quarter worth $97,000. Institutional investors own 86.07% of the company’s stock.

Wall Street Analysts Forecast Growth

SHAK has been the topic of several recent analyst reports. Robert W. Baird increased their price objective on Shake Shack from $93.00 to $105.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price target on shares of Shake Shack from $102.00 to $105.00 and gave the stock an “underweight” rating in a research note on Monday, June 3rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $115.00 price objective on shares of Shake Shack in a research report on Wednesday, August 28th. Piper Sandler cut Shake Shack from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $121.00 to $114.00 in a report on Monday, August 19th. Finally, Morgan Stanley lowered their target price on Shake Shack from $108.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $107.56.

Insiders Place Their Bets

In other news, Director Jeffrey Flug sold 304 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $90.39, for a total value of $27,478.56. Following the completion of the sale, the director now directly owns 3,347 shares of the company’s stock, valued at approximately $302,535.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Katherine Irene Fogertey sold 321 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $95.10, for a total transaction of $30,527.10. Following the completion of the transaction, the chief financial officer now owns 37,143 shares in the company, valued at approximately $3,532,299.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeffrey Flug sold 304 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $90.39, for a total value of $27,478.56. Following the completion of the sale, the director now owns 3,347 shares in the company, valued at approximately $302,535.33. The disclosure for this sale can be found here. Insiders have sold 12,213 shares of company stock valued at $1,311,175 over the last ninety days. 9.73% of the stock is owned by insiders.

Shake Shack Stock Up 0.2 %

NYSE SHAK opened at $102.05 on Monday. The stock has a 50 day moving average price of $95.35 and a 200-day moving average price of $97.38. Shake Shack Inc. has a one year low of $52.79 and a one year high of $111.29. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.03 and a current ratio of 2.06. The company has a market capitalization of $4.33 billion, a P/E ratio of 185.55, a P/E/G ratio of 3.02 and a beta of 1.83.

Shake Shack (NYSE:SHAK) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.27 EPS for the quarter, meeting the consensus estimate of $0.27. Shake Shack had a net margin of 2.23% and a return on equity of 5.63%. The business had revenue of $316.50 million during the quarter, compared to analyst estimates of $314.37 million. During the same quarter last year, the business earned $0.18 earnings per share. Shake Shack’s quarterly revenue was up 16.4% compared to the same quarter last year. As a group, equities analysts predict that Shake Shack Inc. will post 0.73 EPS for the current fiscal year.

Shake Shack Company 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.