State of Alaska Department of Revenue raised its position in shares of Shake Shack, Inc. (NYSE:SHAK) by 85.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,630 shares of the company’s stock after buying an additional 1,670 shares during the period. State of Alaska Department of Revenue’s holdings in Shake Shack were worth $126,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of SHAK. FNY Partners Fund LP acquired a new stake in shares of Shake Shack during the first quarter worth approximately $100,000. BNP Paribas Arbitrage SA increased its stake in shares of Shake Shack by 206.3% in the first quarter. BNP Paribas Arbitrage SA now owns 3,666 shares of the company’s stock worth $122,000 after buying an additional 2,469 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Shake Shack by 109.7% in the first quarter. Victory Capital Management Inc. now owns 3,715 shares of the company’s stock worth $124,000 after buying an additional 1,943 shares during the last quarter. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Shake Shack during the first quarter worth approximately $137,000. Finally, Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Shake Shack during the first quarter worth approximately $137,000. 97.46% of the stock is owned by institutional investors.

Shares of Shake Shack, Inc. (NYSE SHAK) traded up 1.47% during trading on Friday, reaching $32.44. The company’s stock had a trading volume of 229,554 shares. The company has a market capitalization of $842.82 million, a price-to-earnings ratio of 56.52 and a beta of 1.29. Shake Shack, Inc. has a one year low of $30.36 and a one year high of $39.70. The firm’s 50-day moving average price is $34.41 and its 200-day moving average price is $34.88.

Shake Shack (NYSE:SHAK) last announced its earnings results on Thursday, August 3rd. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.04. The business had revenue of $91.30 million during the quarter, compared to analyst estimates of $89 million. Shake Shack had a net margin of 4.70% and a return on equity of 8.71%. The company’s quarterly revenue was up 37.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.14 EPS. On average, equities analysts anticipate that Shake Shack, Inc. will post $0.52 earnings per share for the current year.

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A number of brokerages recently commented on SHAK. TheStreet raised Shake Shack from a “d” rating to a “c-” rating in a research report on Thursday, August 3rd. Wedbush decreased their price target on Shake Shack from $43.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, August 4th. Vetr downgraded Shake Shack from a “strong-buy” rating to a “buy” rating and set a $42.33 price target for the company. in a research report on Wednesday, June 7th. BidaskClub downgraded Shake Shack from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 3rd. Finally, Barclays PLC decreased their price target on Shake Shack from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Friday, August 4th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Shake Shack currently has a consensus rating of “Hold” and an average target price of $37.60.

In other news, major shareholder Equity Group L.P. Select sold 19,452 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $32.01, for a total value of $622,658.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey Flug sold 40,000 shares of the company’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $36.74, for a total value of $1,469,600.00. Following the completion of the sale, the director now owns 3,240 shares of the company’s stock, valued at $119,037.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 193,744 shares of company stock valued at $7,092,306. Company insiders own 34.91% of the company’s stock.

Shake Shack Company Profile

Shake Shack Inc operates roadside burger stands. The Company serves an American menu of burgers, hot dogs, crispy chicken, frozen custard, crinkle cut fries, shakes, beer and wine, among others. The Company’s signature items are its all-natural, hormone and antibiotic-free burgers, hot dogs, crispy chicken, crinkle cut fries, shakes and frozen custard.

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Institutional Ownership by Quarter for Shake Shack (NYSE:SHAK)

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