Holocene Advisors LP Has $97.67 Million Stock Position in Shake Shack Inc. (NYSE:SHAK)

Holocene Advisors LP raised its position in Shake Shack Inc. (NYSE:SHAK) by 68.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 946,350 shares of the company’s stock after purchasing an additional 384,131 shares during the quarter. Holocene Advisors LP owned approximately 2.23% of Shake Shack worth $97,673,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SHAK. Paloma Partners Management Co bought a new position in Shake Shack in the third quarter worth $18,626,000. Maverick Capital Ltd. bought a new stake in Shake Shack during the 3rd quarter worth about $5,952,000. Edgestream Partners L.P. acquired a new position in Shake Shack in the third quarter valued at approximately $783,000. Public Sector Pension Investment Board raised its position in shares of Shake Shack by 2.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 84,831 shares of the company’s stock valued at $8,755,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Shake Shack by 4.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,673 shares of the company’s stock valued at $895,000 after purchasing an additional 333 shares during the period. Institutional investors and hedge funds own 86.07% of the company’s stock.

Shake Shack Stock Up 0.3 %

Shares of SHAK opened at $134.10 on Monday. The stock’s 50 day moving average is $116.51 and its two-hundred day moving average is $102.36. Shake Shack Inc. has a 12 month low of $60.84 and a 12 month high of $134.90. The firm has a market cap of $5.70 billion, a P/E 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.

Shake Shack (NYSE:SHAK) last issued its earnings results on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. The business had revenue of $316.92 million during 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%. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.17 earnings per share. Analysts predict that Shake Shack Inc. will post 0.82 earnings per share for the current fiscal year.

Insider Buying and Selling at Shake Shack

In other news, CFO Katherine Irene Fogertey sold 321 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $98.57, for a total transaction of $31,640.97. Following the completion of the transaction, the chief financial officer now directly owns 36,822 shares of the company’s stock, valued at approximately $3,629,544.54. The trade was a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel Harris Meyer sold 30,000 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $121.79, for a total transaction of $3,653,700.00. Following the completion of the sale, the director now owns 407,646 shares in the company, valued at $49,647,206.34. The trade was a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 63,433 shares of company stock valued at $7,654,856 over the last quarter. 9.73% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on SHAK shares. Bank of America increased their price target on Shake Shack from $104.00 to $116.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $102.00 price target (down from $105.00) on shares of Shake Shack in a research note on Tuesday, September 24th. TD Cowen restated a “buy” rating and set a $125.00 target price on shares of Shake Shack in a report on Wednesday, September 18th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $115.00 price objective on shares of Shake Shack in a research report on Wednesday, August 28th. Finally, Piper Sandler cut Shake Shack from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $121.00 to $114.00 in a report on Monday, August 19th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $112.94.

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.