Shake Shack Inc. (NYSE:SHAK) Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lessened its holdings in shares of Shake Shack Inc. (NYSE:SHAK - Free Report) by 42.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,762 shares of the company's stock after selling 4,285 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Shake Shack were worth $595,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Quest Partners LLC purchased a new stake in shares of Shake Shack during the second quarter worth about $38,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Shake Shack during the third quarter valued at approximately $41,000. Kimelman & Baird LLC bought a new position in shares of Shake Shack during the second quarter worth $45,000. Covestor Ltd grew its stake in Shake Shack by 41.6% during the third quarter. Covestor Ltd now owns 698 shares of the company's stock valued at $72,000 after acquiring an additional 205 shares in the last quarter. Finally, CWM LLC increased its holdings in Shake Shack by 24.7% in the 2nd quarter. CWM LLC now owns 1,046 shares of the company's stock valued at $94,000 after acquiring an additional 207 shares during the last quarter. Institutional investors own 86.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on SHAK shares. JPMorgan Chase & Co. reissued an "underweight" rating and set a $102.00 price objective (down previously from $105.00) on shares of Shake Shack in a report on Tuesday, September 24th. Bank of America raised their price target on Shake Shack from $104.00 to $116.00 and gave the company a "neutral" rating in a report on Monday, August 19th. TD Cowen reaffirmed a "buy" rating and set a $125.00 price objective on shares of Shake Shack in a report on Wednesday, September 18th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $115.00 target price on shares of Shake Shack in a report on Wednesday, August 28th. Finally, Piper Sandler downgraded shares of Shake Shack from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $121.00 to $114.00 in a research note on Monday, August 19th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $112.94.

Insider Buying and Selling at Shake Shack

In other Shake Shack news, 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 completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Daniel Harris Meyer sold 30,000 shares of the business's stock in a transaction on 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 owns 407,646 shares of the company's stock, valued at $49,647,206.34. This represents a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 63,754 shares of company stock worth $7,711,497. 9.73% of the stock is owned by corporate insiders.

Shake Shack Stock Down 2.4 %

SHAK stock traded down $3.25 during trading on Friday, reaching $131.59. 533,337 shares of the company traded hands, compared to its average volume of 710,659. The business has a 50 day simple moving average of $122.41 and a 200 day simple moving average of $104.95. Shake Shack Inc. has a 12 month low of $64.16 and a 12 month high of $139.89. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.98 and a current ratio of 2.01. The company has a market capitalization of $5.59 billion, a price-to-earnings ratio of 774.06, a price-to-earnings-growth ratio of 2.83 and a beta of 1.85.

Shake Shack (NYSE:SHAK - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $316.03 million. During the same quarter in the prior year, the business posted $0.17 EPS. The business's revenue for the quarter was up 14.7% compared to the same quarter last year. On average, equities research analysts anticipate that Shake Shack Inc. will post 0.82 earnings per share for the current fiscal year.

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.