Quadrature Capital Ltd Lowers Stock Holdings in Shake Shack Inc. (NYSE:SHAK)

Quadrature Capital Ltd lessened its position in Shake Shack Inc. (NYSE:SHAK) by 76.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 11,740 shares of the company’s stock after selling 37,192 shares during the quarter. Quadrature Capital Ltd’s holdings in Shake Shack were worth $1,212,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Xponance Inc. grew its position 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 acquiring an additional 103 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Shake Shack by 0.4% in the third quarter. Thrivent Financial for Lutherans now owns 31,398 shares of the company’s stock valued at $3,241,000 after purchasing an additional 139 shares in the last quarter. Brighton Jones LLC increased its stake in Shake Shack by 1.1% during the 2nd quarter. Brighton Jones LLC now owns 17,909 shares of the company’s stock worth $1,612,000 after buying an additional 187 shares during the period. Arizona State Retirement System increased its stake in Shake Shack by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 10,500 shares of the company’s stock worth $945,000 after buying an additional 196 shares during the period. Finally, Glenmede Trust Co. NA lifted its holdings in Shake Shack by 1.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 13,293 shares of the company’s stock worth $1,372,000 after buying an additional 199 shares in the last quarter. Institutional investors and hedge funds own 86.07% of the company’s stock.

Shake Shack Stock Up 0.8 %

SHAK stock opened at $138.70 on Friday. The company has a market cap of $5.89 billion, a price-to-earnings ratio of 815.88, a price-to-earnings-growth ratio of 2.87 and a beta of 1.85. The company has a fifty day moving average price of $119.47 and a 200 day moving average price of $103.54. 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 12 month low of $60.84 and a 12 month high of $139.89.

Shake Shack (NYSE:SHAK) 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. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The business had revenue of $316.92 million during the quarter, compared to analysts’ expectations of $316.03 million. During the same period in the prior year, the company earned $0.17 earnings per share. The business’s revenue was up 14.7% compared to the same quarter last year. Sell-side analysts expect that Shake Shack Inc. will post 0.82 earnings per share for the current year.

Insiders Place Their Bets

In other Shake Shack news, CFO Katherine Irene Fogertey sold 321 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $103.93, for a total transaction of $33,361.53. Following the transaction, the chief financial officer now directly 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Daniel Harris Meyer sold 30,000 shares of the firm’s 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 completion of the transaction, the director now directly owns 407,646 shares of the company’s stock, valued at $49,647,206.34. The trade was a 6.85 % decrease in their ownership of the stock. 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. 9.73% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SHAK has been the subject of several research reports. Piper Sandler downgraded shares of Shake Shack from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $121.00 to $114.00 in a research note on Monday, August 19th. Barclays boosted their target price 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. Bank of America increased their price target on Shake Shack from $104.00 to $116.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Truist Financial boosted their price objective on Shake Shack from $127.00 to $144.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, TD Cowen reaffirmed a “buy” rating and issued a $125.00 target price on shares of Shake Shack in a report on Wednesday, September 18th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $112.94.

Shake Shack Company 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.