Dynamic Technology Lab Private Ltd Cuts Stock Holdings in Shake Shack Inc. (NYSE:SHAK)

Dynamic Technology Lab Private Ltd lowered its position in shares of Shake Shack Inc. (NYSE:SHAK) by 43.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,959 shares of the company’s stock after selling 22,468 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Shake Shack were worth $2,989,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Shake Shack during the 3rd quarter valued at $39,677,000. Marshall Wace LLP lifted its holdings in shares of Shake Shack by 101.2% during the second quarter. Marshall Wace LLP now owns 544,336 shares of the company’s stock valued at $48,990,000 after purchasing an additional 273,822 shares in the last quarter. Armistice Capital LLC boosted its position in shares of Shake Shack by 69.1% during the second quarter. Armistice Capital LLC now owns 579,904 shares of the company’s stock valued at $52,191,000 after buying an additional 236,950 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in Shake Shack by 471.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 255,374 shares of the company’s stock worth $22,984,000 after buying an additional 210,717 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in Shake Shack by 41.9% in the 2nd quarter. Renaissance Technologies LLC now owns 437,600 shares of the company’s stock worth $39,384,000 after buying an additional 129,200 shares during the last quarter. 86.07% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Shake Shack news, Director Daniel Harris Meyer sold 10,000 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $110.08, for a total transaction of $1,100,800.00. Following the completion of the sale, the director now directly owns 460,337 shares of the company’s stock, valued at $50,673,896.96. This trade represents a 2.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Katherine Irene Fogertey sold 321 shares of Shake Shack stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $103.93, for a total transaction of $33,361.53. Following the sale, the chief financial officer now owns 36,180 shares in the company, valued at approximately $3,760,187.40. The trade was a 0.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,433 shares of company stock worth $7,654,856. Corporate insiders own 9.73% of the company’s stock.

Wall Street Analyst Weigh In

SHAK has been the topic of a number of recent analyst reports. Capital One Financial initiated coverage on shares of Shake Shack in a report on Monday, July 29th. They set an “overweight” rating and a $95.00 price target on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $115.00 target price on shares of Shake Shack in a research report on Wednesday, August 28th. Oppenheimer increased their price target on Shake Shack from $122.00 to $135.00 and gave the company an “outperform” rating in a report on Monday, October 28th. Barclays raised their price target 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. Finally, Piper Sandler cut Shake Shack from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $121.00 to $114.00 in a research report on Monday, August 19th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $112.94.

Shake Shack Trading Up 0.5 %

Shake Shack stock opened at $123.01 on Monday. Shake Shack Inc. has a 12-month low of $59.92 and a 12-month high of $134.90. The firm has a market capitalization of $5.23 billion, a price-to-earnings ratio of 723.59, a P/E/G ratio of 2.79 and a beta of 1.81. The firm has a 50 day moving average of $113.75 and a 200 day moving average of $101.34. The company has a current ratio of 2.01, a quick ratio of 1.98 and a debt-to-equity ratio of 0.51.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. The business had revenue of $316.92 million during the quarter, compared to analyst estimates of $316.03 million. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The company’s revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.17 earnings per share. As a group, research analysts predict that Shake Shack Inc. will post 0.82 earnings per share for the current year.

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.