Insider Selling: Shake Shack Inc. (NYSE:SHAK) Director Sells 30,000 Shares of Stock

Shake Shack Inc. (NYSE:SHAK) Director Daniel Harris Meyer sold 30,000 shares of Shake Shack 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 transaction, the director now owns 407,646 shares in the company, valued at approximately $49,647,206.34. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Daniel Harris Meyer also recently made the following trade(s):

• On Wednesday, October 30th, Daniel Harris Meyer sold 22,691 shares of Shake Shack stock. The stock was sold at an average price of $124.47, for a total value of $2,824,348.77.
• On Friday, October 4th, Daniel Harris Meyer sold 10,000 shares of Shake Shack stock. The stock was sold at an average price of $110.08, for a total value of $1,100,800.00.
• On Thursday, September 26th, Daniel Harris Meyer sold 100 shares of Shake Shack stock. The stock was sold at an average price of $110.05, for a total value of $11,005.00.
• On Thursday, August 15th, Daniel Harris Meyer sold 10,000 shares of Shake Shack stock. The stock was sold at an average price of $110.24, for a total value of $1,102,400.00.

Shake Shack Stock Performance

Shake Shack stock traded up $3.33 during mid-day trading on Tuesday, reaching $126.89. 1,077,165 shares of the company were exchanged, compared to its average volume of 944,410. Shake Shack Inc. has a twelve month low of $54.06 and a twelve month high of $130.20. The firm’s 50-day simple moving average is $106.49 and its two-hundred day simple moving average is $99.08. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.98 and a current ratio of 2.01. The firm has a market cap of $5.39 billion, a PE ratio of 744.47, a price-to-earnings-growth ratio of 3.35 and a beta of 1.81.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.20 by $0.05. The business had revenue of $316.92 million during the quarter, compared to analysts’ expectations of $316.03 million. Shake Shack had a return on equity of 6.28% and a net margin of 0.68%. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period last year, the firm earned $0.17 EPS. Equities analysts predict that Shake Shack Inc. will post 0.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on SHAK. Truist Financial upped their price target on Shake Shack from $127.00 to $144.00 and gave the stock a “buy” rating in a report on Friday. The Goldman Sachs Group upped their price target on Shake Shack from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. TD Cowen reiterated a “buy” rating and issued a $125.00 price objective on shares of Shake Shack in a report on Wednesday, September 18th. Robert W. Baird increased their price objective on Shake Shack from $93.00 to $105.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, Wedbush reiterated a “neutral” rating and issued a $90.00 price objective on shares of Shake Shack in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $110.00.

Institutional Trading of Shake Shack

Hedge funds have recently modified their holdings of the business. Xponance Inc. increased its stake in Shake Shack by 4.5% in the 2nd quarter. Xponance Inc. now owns 2,395 shares of the company’s stock valued at $216,000 after purchasing an additional 103 shares in the last quarter. Brighton Jones LLC increased its stake in Shake Shack by 1.1% in the 2nd quarter. Brighton Jones LLC now owns 17,909 shares of the company’s stock valued at $1,612,000 after purchasing an additional 187 shares in the last quarter. Arizona State Retirement System increased its stake in Shake Shack by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 10,500 shares of the company’s stock valued at $945,000 after purchasing an additional 196 shares in the last quarter. Covestor Ltd increased its stake in Shake Shack by 41.6% in the 3rd quarter. Covestor Ltd now owns 698 shares of the company’s stock valued at $72,000 after purchasing an additional 205 shares in the last quarter. Finally, CWM LLC increased its position in Shake Shack by 24.7% during the second quarter. CWM LLC now owns 1,046 shares of the company’s stock worth $94,000 after buying an additional 207 shares in the last quarter. 86.07% of the stock is owned by institutional investors and hedge funds.

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.