Quadrature Capital Ltd Sells 37,192 Shares of Shake Shack Inc. (NYSE:SHAK)

Quadrature Capital Ltd decreased its stake in Shake Shack Inc. (NYSE:SHAK - Free Report) by 76.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,740 shares of the company's stock after selling 37,192 shares during the period. Quadrature Capital Ltd's holdings in Shake Shack were worth $1,212,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Point72 DIFC Ltd lifted its position in shares of Shake Shack by 20.0% during the 3rd quarter. Point72 DIFC Ltd now owns 6,906 shares of the company's stock valued at $713,000 after buying an additional 1,153 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in Shake Shack by 154.8% during the third quarter. Point72 Asset Management L.P. now owns 650,685 shares of the company's stock valued at $67,157,000 after purchasing an additional 395,311 shares during the last quarter. Holocene Advisors LP boosted its position in Shake Shack by 68.3% during the third quarter. Holocene Advisors LP now owns 946,350 shares of the company's stock worth $97,673,000 after purchasing an additional 384,131 shares during the period. Paloma Partners Management Co purchased a new position in shares of Shake Shack in the third quarter worth about $18,626,000. Finally, Maverick Capital Ltd. bought a new stake in shares of Shake Shack in the third quarter valued at approximately $5,952,000. 86.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Daniel Harris Meyer sold 22,691 shares of the business's stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $124.47, for a total transaction of $2,824,348.77. Following the transaction, the director now directly owns 437,646 shares of the company's stock, valued at approximately $54,473,797.62. The trade was a 4.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Katherine Irene Fogertey sold 321 shares of the firm's stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $103.93, for a total value of $33,361.53. Following the completion of the sale, the chief financial officer now directly owns 36,180 shares of the company's stock, valued at $3,760,187.40. The trade was a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 63,112 shares of company stock worth $7,623,215 in the last 90 days. 9.73% of the stock is owned by company insiders.

Shake Shack Price Performance

Shares of SHAK traded up $1.12 during midday trading on Friday, reaching $138.76. The stock had a trading volume of 698,212 shares, compared to its average volume of 763,610. The company has a current ratio of 2.01, a quick ratio of 1.98 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $5.89 billion, a price-to-earnings ratio of 816.24, a price-to-earnings-growth ratio of 2.87 and a beta of 1.85. The company's 50-day moving average is $119.47 and its 200 day moving average is $103.54. Shake Shack Inc. has a 12-month low of $60.84 and a 12-month high of $139.89.

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

Wall Street Analyst Weigh In

SHAK has been the subject of a number of recent research reports. Oppenheimer lifted their price objective 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. Truist Financial raised their price target on Shake Shack from $127.00 to $144.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Barclays boosted their price objective on Shake Shack from $115.00 to $125.00 and gave the company an "equal weight" rating in a research note on Thursday, October 31st. TD Cowen restated a "buy" rating and issued a $125.00 target price on shares of Shake Shack in a research note on Wednesday, September 18th. Finally, JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $102.00 target price (down previously from $105.00) on shares of Shake Shack in a report on Tuesday, September 24th. Two research analysts have rated the stock with a sell rating, nine have issued 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 stock has an average rating of "Hold" and a consensus target price of $112.94.

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.