Blueshift Asset Management LLC Sells 4,292 Shares of Shake Shack Inc. (NYSE:SHAK)

Blueshift Asset Management LLC lessened its holdings in Shake Shack Inc. (NYSE:SHAK) by 45.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,143 shares of the company’s stock after selling 4,292 shares during the quarter. Blueshift Asset Management LLC’s holdings in Shake Shack were worth $531,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Shake Shack during the third quarter valued at $39,677,000. Marshall Wace LLP raised its position in Shake Shack by 101.2% during the 2nd quarter. Marshall Wace LLP now owns 544,336 shares of the company’s stock worth $48,990,000 after purchasing an additional 273,822 shares during the last quarter. Armistice Capital LLC lifted its holdings in Shake Shack by 69.1% during the 2nd 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. grew its position in shares of Shake Shack by 471.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 255,374 shares of the company’s stock valued at $22,984,000 after buying an additional 210,717 shares during the last quarter. Finally, Renaissance Technologies LLC increased 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 valued at $39,384,000 after buying an additional 129,200 shares during the period. 86.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Daniel Harris Meyer sold 30,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was 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 approximately $49,647,206.34. This represents a 6.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Katherine Irene Fogertey sold 321 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $103.93, for a total value of $33,361.53. Following the transaction, the chief financial officer now owns 36,180 shares in the company, valued at approximately $3,760,187.40. This trade represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 63,433 shares of company stock worth $7,654,856 in the last quarter. Insiders own 9.73% of the company’s stock.

Shake Shack Price Performance

Shares of NYSE:SHAK opened at $132.45 on Thursday. The stock’s 50 day moving average is $114.91 and its 200-day moving average is $101.72. Shake Shack Inc. has a twelve month low of $59.92 and a twelve month high of $134.90. The company has a quick ratio of 1.98, a current ratio of 2.01 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $5.63 billion, a price-to-earnings ratio of 780.35, a PEG ratio of 2.94 and a beta of 1.81.

Shake Shack (NYSE:SHAK) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.25 earnings per share 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 the consensus estimate of $316.03 million. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The business’s revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.17 earnings per share. Sell-side analysts forecast that Shake Shack Inc. will post 0.82 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on SHAK shares. Barclays lifted their price objective on Shake Shack from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $102.00 price objective (down from $105.00) on shares of Shake Shack in a research note on Tuesday, September 24th. Wedbush reiterated a “neutral” rating and set a $90.00 price objective on shares of Shake Shack in a research report on Thursday, August 1st. Truist Financial boosted their target price on shares of Shake Shack from $127.00 to $144.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, TD Cowen reiterated a “buy” rating and set a $125.00 price target on shares of Shake Shack in a report on Wednesday, September 18th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $112.94.

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.