Wasatch Advisors LP Increases Stock Position in Shake Shack, Inc. $SHAK

Wasatch Advisors LP raised its stake in shares of Shake Shack, Inc. (NYSE:SHAK) by 16.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 407,283 shares of the company’s stock after purchasing an additional 57,612 shares during the quarter. Wasatch Advisors LP’s holdings in Shake Shack were worth $36,032,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of SHAK. Wesbanco Bank Inc. purchased a new position in Shake Shack in the 1st quarter worth approximately $1,416,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych purchased a new stake in shares of Shake Shack during the 1st quarter valued at $88,000. Louisiana State Employees Retirement System purchased a new stake in shares of Shake Shack during the 1st quarter valued at $1,584,000. Hilton Head Capital Partners LLC lifted its holdings in shares of Shake Shack by 65.0% during the 1st quarter. Hilton Head Capital Partners LLC now owns 513 shares of the company’s stock worth $45,000 after acquiring an additional 202 shares during the last quarter. Finally, Murphy & Mullick Capital Management Corp lifted its holdings in shares of Shake Shack by 42.5% during the 1st quarter. Murphy & Mullick Capital Management Corp now owns 738 shares of the company’s stock worth $65,000 after acquiring an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Shake Shack Price Performance

Shares of Shake Shack stock opened at $56.76 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.66 and a current ratio of 1.69. Shake Shack, Inc. has a 52-week low of $51.60 and a 52-week high of $144.65. The company has a fifty day moving average of $70.46 and a 200-day moving average of $83.48. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 57.92, a price-to-earnings-growth ratio of 2.45 and a beta of 1.63.

Insiders Place Their Bets

In related news, Director Josh Silverman acquired 8,290 shares of Shake Shack stock in a transaction dated Friday, May 15th. The shares were purchased at an average cost of $60.38 per share, with a total value of $500,550.20. Following the completion of the purchase, the director owned 8,290 shares of the company’s stock, valued at $500,550.20. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey Flug acquired 1,000 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was bought at an average price of $61.30 per share, for a total transaction of $61,300.00. Following the acquisition, the director owned 5,470 shares of the company’s stock, valued at approximately $335,311. This trade represents a 22.37% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 50,616 shares of company stock valued at $3,109,782 over the last three months. 8.32% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SHAK. Oppenheimer set a $82.00 target price on shares of Shake Shack and gave the stock an “outperform” rating in a research report on Tuesday, June 2nd. Wells Fargo & Company lowered their price target on Shake Shack from $80.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 3rd. TD Cowen reaffirmed a “hold” rating and set a $70.00 price target on shares of Shake Shack in a research note on Wednesday, June 3rd. Wolfe Research began coverage on Shake Shack in a report on Monday, March 9th. They issued an “outperform” rating and a $118.00 price objective for the company. Finally, Guggenheim reduced their price objective on Shake Shack from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Fifteen investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $91.00.

Shake Shack Profile

Shake Shack, Inc (NYSE: SHAK) is a publicly traded hospitality company known for its modern take on the classic American roadside burger stand. The company operates a chain of quick-casual restaurants offering premium hamburgers, hot dogs, crinkle-cut fries, frozen custard, milkshakes and a curated selection of beer and wine. Shake Shack emphasizes high-quality ingredients, including 100% all-natural Angus beef with no hormones or antibiotics, and works with local suppliers where possible to maintain its commitment to fresh, responsibly sourced food.

Shake Shack traces its origins to a hot dog cart opened in New York City’s Madison Square Park in 2001 by Danny Meyer’s Union Square Hospitality Group.