Edgestream Partners L.P. Takes $783,000 Position in Shake Shack Inc. (NYSE:SHAK)

Edgestream Partners L.P. bought a new position in Shake Shack Inc. (NYSE:SHAK - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 7,585 shares of the company's stock, valued at approximately $783,000.

Other institutional investors have also added to or reduced their stakes in the company. Hsbc Holdings PLC increased its stake in shares of Shake Shack by 303.3% in the 2nd quarter. Hsbc Holdings PLC now owns 16,604 shares of the company's stock worth $1,460,000 after acquiring an additional 12,487 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Shake Shack by 4.8% during the third quarter. Fisher Asset Management LLC now owns 354,114 shares of the company's stock valued at $36,548,000 after purchasing an additional 16,097 shares during the last quarter. GDS Wealth Management purchased a new position in shares of Shake Shack during the third quarter valued at approximately $417,000. Qsemble Capital Management LP purchased a new stake in shares of Shake Shack in the 2nd quarter worth approximately $661,000. Finally, Jennison Associates LLC increased its position in Shake Shack by 10.8% during the 3rd quarter. Jennison Associates LLC now owns 294,111 shares of the company's stock valued at $30,355,000 after buying an additional 28,661 shares in the last quarter. Hedge funds and other institutional investors own 86.07% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on SHAK. TD Cowen reissued a "buy" rating and set a $125.00 price objective on shares of Shake Shack in a research report on Wednesday, September 18th. JPMorgan Chase & Co. reissued an "underweight" rating and set a $102.00 price target (down previously from $105.00) on shares of Shake Shack in a research report on Tuesday, September 24th. Truist Financial raised their price target on Shake Shack from $127.00 to $144.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Barclays upped their price target on shares of Shake Shack from $115.00 to $125.00 and gave the company an "equal weight" rating in a research report on Thursday, October 31st. Finally, Bank of America raised their price objective on shares of Shake Shack from $104.00 to $116.00 and gave the stock a "neutral" rating in a report on Monday, August 19th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $112.94.

Shake Shack Price Performance

NYSE SHAK traded up $4.21 during trading hours on Thursday, reaching $137.64. The company's stock had a trading volume of 779,698 shares, compared to its average volume of 933,460. Shake Shack Inc. has a 1 year low of $60.84 and a 1 year high of $138.60. The company has a quick ratio of 1.98, a current ratio of 2.01 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $5.85 billion, a price-to-earnings ratio of 783.94, a PEG ratio of 2.85 and a beta of 1.85. The firm's 50-day moving average price is $118.16 and its 200-day moving average price is $103.03.

Shake Shack (NYSE:SHAK - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.20 by $0.05. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The firm had revenue of $316.92 million for the quarter, compared to the consensus estimate of $316.03 million. During the same quarter in the previous year, the firm earned $0.17 earnings per share. The company's quarterly revenue was up 14.7% compared to the same quarter last year. On average, equities research analysts predict that Shake Shack Inc. will post 0.82 EPS for the current fiscal year.

Insider Buying and Selling

In other Shake Shack news, Director Daniel Harris Meyer sold 30,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $121.79, for a total transaction of $3,653,700.00. Following the transaction, the director now directly owns 407,646 shares in the company, valued at $49,647,206.34. This represents a 6.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 transaction, the chief financial officer now directly owns 36,180 shares in the company, valued at approximately $3,760,187.40. The trade was a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 63,112 shares of company stock valued at $7,623,215 in the last 90 days. Company 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.