Insider Selling: Shake Shack Inc (SHAK) Major Shareholder Sells 52,276 Shares of Stock
Shake Shack Inc (NYSE:SHAK) major shareholder Equity Group L.P. Select sold 52,276 shares of the company’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $45.03, for a total value of $2,353,988.28. The sale was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Equity Group L.P. Select also recently made the following trade(s):
- On Thursday, December 14th, Equity Group L.P. Select sold 95,564 shares of Shake Shack stock. The stock was sold at an average price of $45.43, for a total value of $4,341,472.52.
- On Friday, November 3rd, Equity Group L.P. Select sold 50,630 shares of Shake Shack stock. The stock was sold at an average price of $36.57, for a total value of $1,851,539.10.
Shares of Shake Shack Inc (NYSE:SHAK) traded down $1.22 on Friday, reaching $44.17. The company’s stock had a trading volume of 732,102 shares, compared to its average volume of 793,576. Shake Shack Inc has a fifty-two week low of $30.12 and a fifty-two week high of $47.39. The firm has a market cap of $1,630.00 and a PE ratio of 71.24.
Several brokerages recently weighed in on SHAK. Jefferies Group downgraded Shake Shack from a “hold” rating to an “underperform” rating and set a $36.00 price objective for the company. in a research report on Saturday, December 30th. Cowen upped their target price on Shake Shack from $36.00 to $42.00 and gave the stock a “market perform” rating in a report on Tuesday, December 19th. Morgan Stanley raised Shake Shack from an “underweight” rating to an “equal weight” rating and lowered their target price for the stock from $43.04 to $34.00 in a report on Thursday, December 7th. BidaskClub raised Shake Shack from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 14th. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $50.00 target price on shares of Shake Shack in a report on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. Shake Shack currently has an average rating of “Hold” and a consensus target price of $37.76.
Several hedge funds have recently modified their holdings of SHAK. Fred Alger Management Inc. increased its stake in shares of Shake Shack by 163.8% in the second quarter. Fred Alger Management Inc. now owns 592,963 shares of the company’s stock valued at $20,683,000 after buying an additional 368,185 shares during the period. Lord Abbett & CO. LLC increased its stake in shares of Shake Shack by 101.3% in the second quarter. Lord Abbett & CO. LLC now owns 706,704 shares of the company’s stock valued at $24,650,000 after buying an additional 355,674 shares during the period. UBS Asset Management Americas Inc. acquired a new stake in shares of Shake Shack in the second quarter valued at about $8,681,000. Balyasny Asset Management LLC increased its stake in shares of Shake Shack by 77.7% in the second quarter. Balyasny Asset Management LLC now owns 539,181 shares of the company’s stock valued at $18,807,000 after buying an additional 235,681 shares during the period. Finally, UBS Oconnor LLC acquired a new stake in shares of Shake Shack in the second quarter valued at about $5,525,000. 83.16% of the stock is owned by institutional investors.
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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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