Shake Shack Inc. (NYSE:SHAK) Director Sells $3,653,700.00 in Stock

Shake Shack Inc. (NYSE:SHAK) Director Daniel Harris Meyer sold 30,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $121.79, for a total value of $3,653,700.00. Following the transaction, the director now directly owns 407,646 shares in the company, valued at $49,647,206.34. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Daniel Harris Meyer also recently made the following trade(s):

• On Wednesday, October 30th, Daniel Harris Meyer sold 22,691 shares of Shake Shack stock. The shares were sold at an average price of $124.47, for a total value of $2,824,348.77.
• On Friday, October 4th, Daniel Harris Meyer sold 10,000 shares of Shake Shack stock. The shares were sold at an average price of $110.08, for a total value of $1,100,800.00.
• On Thursday, September 26th, Daniel Harris Meyer sold 100 shares of Shake Shack stock. The shares were sold at an average price of $110.05, for a total value of $11,005.00.
• On Thursday, August 15th, Daniel Harris Meyer sold 10,000 shares of Shake Shack stock. The shares were sold at an average price of $110.24, for a total value of $1,102,400.00.

Shake Shack Stock Performance

Shake Shack stock traded up $3.33 during midday trading on Tuesday, hitting $126.89. 1,077,165 shares of the company were exchanged, compared to its average volume of 944,410. The firm has a market capitalization of $5.39 billion, a PE ratio of 744.47, a price-to-earnings-growth ratio of 3.35 and a beta of 1.81. Shake Shack Inc. has a fifty-two week low of $54.06 and a fifty-two week high of $130.20. The business has a fifty day simple moving average of $106.49 and a two-hundred day simple moving average of $99.08. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.98 and a current ratio of 2.01.

Shake Shack (NYSE:SHAK) last posted its earnings results on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.20 by $0.05. The firm had revenue of $316.92 million for the quarter, compared to analyst estimates of $316.03 million. Shake Shack had a return on equity of 6.28% and a net margin of 0.68%. Shake Shack’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period last year, the company earned $0.17 earnings per share. On average, sell-side analysts forecast that Shake Shack Inc. will post 0.8 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SHAK. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $115.00 price objective on shares of Shake Shack in a research report on Wednesday, August 28th. The Goldman Sachs Group increased their price target on Shake Shack from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Bank of America increased their price target on Shake Shack from $104.00 to $116.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Wedbush reiterated a “neutral” rating and issued a $90.00 price target on shares of Shake Shack in a research note on Thursday, August 1st. Finally, Oppenheimer increased their price target on Shake Shack from $122.00 to $135.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $110.00.

Institutional Trading of Shake Shack

Several institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its holdings in Shake Shack by 9.0% in the second quarter. Dimensional Fund Advisors LP now owns 801,003 shares of the company’s stock valued at $72,088,000 after purchasing an additional 66,090 shares during the period. Armistice Capital LLC boosted its stake in shares of Shake Shack by 69.1% in the second quarter. Armistice Capital LLC now owns 579,904 shares of the company’s stock worth $52,191,000 after acquiring an additional 236,950 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of Shake Shack by 101.2% in the second quarter. Marshall Wace LLP now owns 544,336 shares of the company’s stock worth $48,990,000 after acquiring an additional 273,822 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Shake Shack by 41.9% in the second quarter. Renaissance Technologies LLC now owns 437,600 shares of the company’s stock worth $39,384,000 after acquiring an additional 129,200 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Shake Shack by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 300,539 shares of the company’s stock worth $27,048,000 after acquiring an additional 4,201 shares during the last quarter. 86.07% of the stock is owned by institutional investors and hedge funds.

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.