Assenagon Asset Management S.A. Buys 47,906 Shares of Shake Shack Inc. (NYSE:SHAK)

Assenagon Asset Management S.A. lifted its stake in shares of Shake Shack Inc. (NYSE:SHAK) by 45.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 152,264 shares of the company’s stock after buying an additional 47,906 shares during the period. Assenagon Asset Management S.A.’s holdings in Shake Shack were worth $19,764,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. State Street Corp grew its position in Shake Shack by 3.5% during the 3rd quarter. State Street Corp now owns 1,452,736 shares of the company’s stock worth $149,937,000 after acquiring an additional 49,324 shares during the last quarter. Holocene Advisors LP boosted its stake in shares of Shake Shack by 68.3% during the third quarter. Holocene Advisors LP now owns 946,350 shares of the company’s stock valued at $97,673,000 after purchasing an additional 384,131 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Shake Shack by 3.1% during the third quarter. Geode Capital Management LLC now owns 876,380 shares of the company’s stock worth $90,470,000 after purchasing an additional 26,620 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Shake Shack by 9.0% in the second quarter. Dimensional Fund Advisors LP now owns 801,003 shares of the company’s stock valued at $72,088,000 after buying an additional 66,090 shares during the period. Finally, Point72 Asset Management L.P. raised its holdings in Shake Shack by 154.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 650,685 shares of the company’s stock valued at $67,157,000 after buying an additional 395,311 shares during the last quarter. 86.07% of the stock is currently owned by institutional investors.

Shake Shack Stock Down 1.4 %

SHAK stock opened at $115.25 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.98 and a current ratio of 2.01. Shake Shack Inc. has a fifty-two week low of $66.06 and a fifty-two week high of $139.89. The stock’s 50 day simple moving average is $128.97 and its 200 day simple moving average is $111.20. The company has a market cap of $4.90 billion, a P/E ratio of 677.94, a price-to-earnings-growth ratio of 1.91 and a beta of 1.86.

Shake Shack (NYSE:SHAK) last issued its earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. Shake Shack had a return on equity of 6.28% and a net margin of 0.68%. The company had revenue of $316.92 million for the quarter, compared to analysts’ expectations of $316.03 million. During the same period last year, the business earned $0.17 EPS. Shake Shack’s quarterly revenue was up 14.7% compared to the same quarter last year. On average, research analysts expect that Shake Shack Inc. will post 0.82 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Wedbush restated a “neutral” rating and issued a $130.00 price target on shares of Shake Shack in a research report on Wednesday. Oppenheimer raised their target price on Shake Shack from $145.00 to $155.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. Truist Financial reduced their price target on Shake Shack from $149.00 to $143.00 and set a “buy” rating on the stock in a research report on Tuesday. Barclays upgraded Shake Shack from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $125.00 to $159.00 in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and set a $102.00 target price (down previously from $105.00) on shares of Shake Shack in a research report on Tuesday, September 24th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $123.78.

Insider Buying and Selling at Shake Shack

In other news, CFO Katherine Irene Fogertey sold 642 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was 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 $4,223,894.67. This trade represents a 2.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel Harris Meyer sold 30,000 shares of Shake Shack stock in a transaction that occurred 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 in the company, valued at approximately $49,647,206.34. The trade was a 6.85 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,333 shares of company stock valued at $6,566,330. Corporate insiders own 9.73% of the company’s stock.

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.