Los Angeles Capital Management LLC Sells 7,030 Shares of Shake Shack Inc. (NYSE:SHAK)

Los Angeles Capital Management LLC lowered its holdings in shares of Shake Shack Inc. (NYSE:SHAK - Free Report) by 49.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,152 shares of the company's stock after selling 7,030 shares during the quarter. Los Angeles Capital Management LLC's holdings in Shake Shack were worth $738,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Shake Shack during the 1st quarter valued at about $25,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Shake Shack in the third quarter valued at approximately $41,000. Quest Partners LLC acquired a new stake in shares of Shake Shack in the second quarter worth $38,000. Kimelman & Baird LLC bought a new stake in shares of Shake Shack during the 2nd quarter worth $45,000. Finally, Covestor Ltd raised its holdings in Shake Shack by 32,150.0% in the 1st quarter. Covestor Ltd now owns 645 shares of the company's stock worth $67,000 after acquiring an additional 643 shares during the period. Institutional investors and hedge funds own 86.07% of the company's stock.

Insider Activity at Shake Shack

In related news, Director Daniel Harris Meyer sold 10,000 shares of the firm's stock in a transaction on Friday, October 4th. The stock was sold at an average price of $110.08, for a total transaction of $1,100,800.00. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Katherine Irene Fogertey sold 321 shares of the firm's stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $103.93, for a total value of $33,361.53. Following the transaction, the chief financial officer now owns 36,180 shares of the company's stock, valued at $3,760,187.40. This trade represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,433 shares of company stock valued at $7,654,856. 9.73% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently commented on SHAK. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $102.00 price objective (down from $105.00) on shares of Shake Shack in a research note on Tuesday, September 24th. Robert W. Baird raised their price objective on shares of Shake Shack from $93.00 to $105.00 and gave the stock a "neutral" rating in a research note on Friday, August 2nd. Oppenheimer upped their target price on shares of Shake Shack from $122.00 to $135.00 and gave the company an "outperform" rating in a research note on Monday, October 28th. Capital One Financial began coverage on shares of Shake Shack in a report on Monday, July 29th. They issued an "overweight" rating and a $95.00 price target for the company. Finally, Bank of America boosted 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 equities 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's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $112.94.

Shake Shack Price Performance

Shake Shack stock traded down $2.54 during trading hours on Friday, reaching $121.53. 748,326 shares of the stock were exchanged, compared to its average volume of 943,285. The stock has a 50 day moving average of $111.66 and a two-hundred day moving average of $100.87. The company has a market cap of $5.16 billion, a P/E ratio of 714.24, a price-to-earnings-growth ratio of 2.92 and a beta of 1.81. 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 Inc. has a twelve month low of $59.51 and a twelve month high of $134.90.

Shake Shack (NYSE:SHAK - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share for the quarter, beating 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 firm had revenue of $316.92 million for the quarter, compared to the consensus estimate of $316.03 million. During the same quarter last year, the business posted $0.17 EPS. The company's revenue was up 14.7% compared to the same quarter last year. Equities analysts expect that Shake Shack Inc. will post 0.81 EPS for the current fiscal year.

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.