Entropy Technologies LP Acquires New Shares in Shake Shack Inc. (NYSE:SHAK)

Entropy Technologies LP bought a new position in shares of Shake Shack Inc. (NYSE:SHAK) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,344 shares of the company’s stock, valued at approximately $345,000.

A number of other large investors have also recently made changes to their positions in SHAK. Allspring Global Investments Holdings LLC purchased a new position in Shake Shack during the first quarter valued at approximately $25,000. Quest Partners LLC purchased a new position in shares of Shake Shack during the 2nd quarter valued at $38,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Shake Shack in the third quarter worth $41,000. Kimelman & Baird LLC purchased a new stake in shares of Shake Shack in the second quarter worth $45,000. Finally, Covestor Ltd boosted its stake in Shake Shack by 32,150.0% during the first quarter. Covestor Ltd now owns 645 shares of the company’s stock valued at $67,000 after buying an additional 643 shares during the period. 86.07% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Shake Shack news, Director Daniel Harris Meyer sold 30,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 407,646 shares in the company, valued at approximately $49,647,206.34. This trade represents a 6.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Katherine Irene Fogertey sold 321 shares of the business’s stock in a transaction that occurred 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 directly owns 36,180 shares in the company, valued at $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 valued at $7,654,856 over the last ninety days. 9.73% of the stock is owned by insiders.

Shake Shack Price Performance

Shares of Shake Shack stock opened at $121.53 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.01 and a quick ratio of 1.98. Shake Shack Inc. has a one year low of $59.51 and a one year high of $134.90. The business’s 50 day simple moving average is $111.66 and its two-hundred day simple moving average is $100.83. The stock has a market capitalization of $5.16 billion, a P/E ratio of 714.88, a price-to-earnings-growth ratio of 2.92 and a beta of 1.81.

Shake Shack (NYSE:SHAK) last issued 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 company 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 firm’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.17 earnings per share. Analysts forecast that Shake Shack Inc. will post 0.81 EPS for the current year.

Analyst Ratings Changes

SHAK has been the topic of a number of research analyst reports. JPMorgan Chase & Co. restated an “underweight” rating and issued a $102.00 target price (down from $105.00) on shares of Shake Shack in a research note on Tuesday, September 24th. Capital One Financial initiated coverage on shares of Shake Shack in a research note on Monday, July 29th. They issued an “overweight” rating and a $95.00 target price on the stock. The Goldman Sachs Group boosted their price target on shares of Shake Shack from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Barclays raised their price objective on shares of Shake Shack from $115.00 to $125.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Finally, Oppenheimer upped their target price on shares of Shake Shack from $122.00 to $135.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Shake Shack presently has a consensus rating of “Hold” and a consensus 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.