Quantbot Technologies LP Lowers Position in Shake Shack Inc. (NYSE:SHAK)

Quantbot Technologies LP lessened its holdings in shares of Shake Shack Inc. (NYSE:SHAKFree Report) by 91.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,491 shares of the company’s stock after selling 49,243 shares during the quarter. Quantbot Technologies LP’s holdings in Shake Shack were worth $464,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of SHAK. FMR LLC raised its stake in Shake Shack by 3.6% in the third quarter. FMR LLC now owns 243,549 shares of the company’s stock valued at $25,137,000 after purchasing an additional 8,512 shares in the last quarter. Truvestments Capital LLC raised its position in shares of Shake Shack by 14.5% during the 3rd quarter. Truvestments Capital LLC now owns 10,606 shares of the company’s stock valued at $1,095,000 after buying an additional 1,342 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Shake Shack by 4.8% during the 3rd quarter. Fisher Asset Management LLC now owns 354,114 shares of the company’s stock worth $36,548,000 after acquiring an additional 16,097 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Shake Shack by 2.4% during the 3rd quarter. Larson Financial Group LLC now owns 38,859 shares of the company’s stock worth $4,011,000 after acquiring an additional 913 shares during the last quarter. Finally, Algert Global LLC grew its position in Shake Shack by 49.3% in the third quarter. Algert Global LLC now owns 5,640 shares of the company’s stock worth $582,000 after acquiring an additional 1,862 shares in the last quarter. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Insider Transactions at Shake Shack

In other Shake Shack news, CFO Katherine Irene Fogertey sold 321 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $103.93, for a total value of $33,361.53. Following the completion of the transaction, the chief financial officer now owns 36,180 shares in the company, valued at approximately $3,760,187.40. This represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $3,653,700.00. Following the transaction, the director now directly owns 407,646 shares of the company’s stock, valued at $49,647,206.34. This represents a 6.85 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,112 shares of company stock valued at $7,623,215. Company insiders own 9.73% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SHAK shares. Oppenheimer lifted their price target on Shake Shack from $122.00 to $135.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. Truist Financial boosted their target price on Shake Shack from $127.00 to $144.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $115.00 price target on shares of Shake Shack in a research report on Wednesday, August 28th. Piper Sandler lowered shares of Shake Shack from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $121.00 to $114.00 in a report on Monday, August 19th. Finally, TD Cowen reaffirmed a “buy” rating and set a $125.00 target price on shares of Shake Shack in a report on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $112.94.

Get Our Latest Research Report on Shake Shack

Shake Shack Trading Down 0.9 %

SHAK opened at $132.34 on Wednesday. Shake Shack Inc. has a one year low of $60.84 and a one year high of $135.76. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.01 and a quick ratio of 1.98. The business has a 50 day simple moving average of $117.61 and a two-hundred day simple moving average of $102.82. The firm has a market capitalization of $5.62 billion, a price-to-earnings ratio of 778.47, a PEG ratio of 3.03 and a beta of 1.85.

Shake Shack (NYSE:SHAKGet Free Report) last announced 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 company had revenue of $316.92 million during the quarter, compared to the consensus estimate of $316.03 million. Shake Shack had a return on equity of 6.28% and a net margin of 0.68%. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 earnings per share. Analysts predict that Shake Shack Inc. will post 0.82 EPS for the current year.

Shake Shack Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Shake Shack (NYSE:SHAK)

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