Jonathan D. Sokoloff Sells 500,000 Shares of Shake Shack Inc (SHAK) Stock

Shake Shack Inc (NYSE:SHAK) Director Jonathan D. Sokoloff sold 500,000 shares of the company’s stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $57.15, for a total value of $28,575,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Jonathan D. Sokoloff also recently made the following trade(s):

  • On Tuesday, September 4th, Jonathan D. Sokoloff sold 200,000 shares of Shake Shack stock. The shares were sold at an average price of $59.60, for a total value of $11,920,000.00.

NYSE:SHAK traded down $1.36 during mid-day trading on Wednesday, hitting $57.49. 1,050,100 shares of the company traded hands, compared to its average volume of 927,609. Shake Shack Inc has a one year low of $31.05 and a one year high of $70.12. The firm has a market capitalization of $2.14 billion, a PE ratio of 104.32, a P/E/G ratio of 4.22 and a beta of 1.22.

Shake Shack (NYSE:SHAK) last released its quarterly earnings results on Thursday, August 2nd. The company reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.11. Shake Shack had a return on equity of 10.39% and a net margin of 0.42%. The business had revenue of $116.30 million during the quarter, compared to analyst estimates of $110.70 million. During the same quarter in the previous year, the company posted $0.20 earnings per share. Shake Shack’s revenue for the quarter was up 27.4% on a year-over-year basis. equities analysts anticipate that Shake Shack Inc will post 0.61 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in SHAK. Millennium Management LLC bought a new stake in Shake Shack during the fourth quarter valued at about $228,000. Rhumbline Advisers grew its holdings in Shake Shack by 5.0% during the first quarter. Rhumbline Advisers now owns 46,568 shares of the company’s stock valued at $1,939,000 after purchasing an additional 2,211 shares during the period. Commerzbank Aktiengesellschaft FI grew its holdings in Shake Shack by 21.5% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 10,002 shares of the company’s stock valued at $416,000 after purchasing an additional 1,767 shares during the period. Comerica Bank grew its holdings in Shake Shack by 5.5% during the first quarter. Comerica Bank now owns 21,052 shares of the company’s stock valued at $908,000 after purchasing an additional 1,095 shares during the period. Finally, Trexquant Investment LP bought a new stake in Shake Shack during the first quarter valued at about $217,000. 87.45% of the stock is owned by institutional investors and hedge funds.

A number of analysts recently commented on SHAK shares. Longbow Research cut Shake Shack from a “buy” rating to a “neutral” rating and set a $57.96 price objective for the company. in a research report on Wednesday, May 23rd. They noted that the move was a valuation call. Zacks Investment Research cut Shake Shack from a “hold” rating to a “sell” rating in a research report on Wednesday, July 11th. Morgan Stanley upped their price objective on Shake Shack from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, July 16th. Cowen reiterated a “hold” rating and set a $59.00 price objective on shares of Shake Shack in a research report on Wednesday, July 25th. Finally, Wedbush reiterated a “hold” rating and set a $62.00 price objective on shares of Shake Shack in a research report on Friday, August 3rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $53.00.

About Shake Shack

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, hot dogs, chicken, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. As of December 27, 2017, it had 159 Shacks, including 90 domestic company-operated Shacks, 10 domestic licensed Shacks, and 59 international licensed Shacks.

Read More: Book Value Per Share – BVPS

Insider Buying and Selling by Quarter for Shake Shack (NYSE:SHAK)

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