Transcendent Capital Group LLC Makes New Investment in Shake Shack Inc. (NYSE:SHAK)

Transcendent Capital Group LLC bought a new position in Shake Shack Inc. (NYSE:SHAK) during the fourth quarter, HoldingsChannel.com reports. The fund bought 400 shares of the company’s stock, valued at approximately $52,000.

Several other hedge funds have also recently made changes to their positions in SHAK. Creative Planning raised its holdings in Shake Shack by 64.2% during the 3rd quarter. Creative Planning now owns 9,763 shares of the company’s stock valued at $1,008,000 after buying an additional 3,817 shares during the period. Private Advisor Group LLC bought a new stake in shares of Shake Shack in the 3rd quarter worth about $279,000. Assenagon Asset Management S.A. boosted its stake in shares of Shake Shack by 268.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 104,358 shares of the company’s stock worth $10,771,000 after purchasing an additional 75,997 shares during the period. Louisiana State Employees Retirement System grew its holdings in Shake Shack by 2.1% during the 3rd quarter. Louisiana State Employees Retirement System now owns 19,300 shares of the company’s stock valued at $1,992,000 after purchasing an additional 400 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its position in Shake Shack by 3.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 22,816 shares of the company’s stock worth $2,354,000 after purchasing an additional 708 shares during the period. 86.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on SHAK. TD Securities reaffirmed a “buy” rating and set a $140.00 target price on shares of Shake Shack in a research note on Friday. UBS Group raised their target price on shares of Shake Shack from $130.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Barclays raised Shake Shack from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $125.00 to $159.00 in a research report on Tuesday, January 7th. Stifel Nicolaus reduced their price target on Shake Shack from $128.00 to $110.00 and set a “hold” rating on the stock in a research report on Friday, January 17th. Finally, Oppenheimer lifted their target price on shares of Shake Shack from $145.00 to $155.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Shake Shack presently has a consensus rating of “Hold” and a consensus price target of $125.50.

Shake Shack Trading Up 6.3 %

NYSE SHAK opened at $115.55 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.98 and a current ratio of 1.97. The firm has a market capitalization of $4.91 billion, a price-to-earnings ratio of 502.38 and a beta of 1.86. The company’s 50 day moving average price is $121.47 and its 200 day moving average price is $116.62. Shake Shack Inc. has a one year low of $77.50 and a one year high of $139.89.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.01. Shake Shack had a return on equity of 8.40% and a net margin of 0.81%. The firm had revenue of $328.68 million during the quarter, compared to analyst estimates of $329.02 million. On average, sell-side analysts predict that Shake Shack Inc. will post 1.26 EPS for the current year.

Insider Activity

In other Shake Shack news, CFO Katherine Irene Fogertey sold 642 shares of Shake Shack stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $137.51, for a total value of $88,281.42. Following the transaction, the chief financial officer now owns 30,717 shares in the company, valued at approximately $4,223,894.67. The trade was a 2.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate 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.