Shake Shack Inc. (NYSE:SHAK) Director Daniel Harris Meyer Sells 22,691 Shares of Stock

Shake Shack Inc. (NYSE:SHAK) Director Daniel Harris Meyer sold 22,691 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $124.47, for a total transaction of $2,824,348.77. Following the completion of the transaction, the director now directly owns 437,646 shares of the company’s stock, valued at $54,473,797.62. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• 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 transaction 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 transaction 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 transaction of $1,102,400.00.

Shake Shack Stock Performance

SHAK stock opened at $124.10 on Friday. The company has a current ratio of 2.01, a quick ratio of 2.03 and a debt-to-equity ratio of 0.51. The firm has a market cap of $5.27 billion, a P/E ratio of 730.00, a P/E/G ratio of 3.58 and a beta of 1.83. Shake Shack Inc. has a 12-month low of $54.06 and a 12-month high of $130.20. The stock’s 50 day simple moving average is $105.87 and its 200 day simple moving average is $98.65.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.05. The business 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%. The business’s revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.17 EPS. As a group, equities research analysts predict that Shake Shack Inc. will post 0.74 EPS for the current year.

Institutional Investors Weigh In On Shake Shack

Institutional investors and hedge funds have recently made changes to their positions in the company. Marshall Wace LLP increased its position in 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 buying an additional 273,822 shares during the period. Armistice Capital LLC increased its position in 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 buying an additional 236,950 shares during the period. Point72 Asset Management L.P. increased its position in Shake Shack by 471.9% in the second quarter. Point72 Asset Management L.P. now owns 255,374 shares of the company’s stock worth $22,984,000 after buying an additional 210,717 shares during the period. Jennison Associates LLC acquired a new stake in Shake Shack in the first quarter worth $16,365,000. Finally, Renaissance Technologies LLC increased its position in 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 buying an additional 129,200 shares during the period. 86.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SHAK shares. The Goldman Sachs Group upped their price objective on shares of Shake Shack from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Truist Financial upped their price objective on shares of Shake Shack from $127.00 to $144.00 and gave the company a “buy” rating in a research note on Friday. TD Cowen reaffirmed a “buy” rating and set a $125.00 price objective on shares of Shake Shack in a research note on Wednesday, September 18th. Wedbush reiterated a “neutral” rating and set a $90.00 target price on shares of Shake Shack in a report on Thursday, August 1st. Finally, Barclays boosted their target price on Shake Shack from $115.00 to $125.00 and gave the stock an “equal weight” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $110.00.

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.