Insider Selling: Shake Shack Inc. (NYSE:SHAK) Director Sells $2,824,348.77 in Stock

Shake Shack Inc. (NYSE:SHAK) Director Daniel Harris Meyer sold 22,691 shares of Shake Shack stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $124.47, for a total value of $2,824,348.77. Following the completion of the sale, the director now directly owns 437,646 shares of the company’s stock, valued at approximately $54,473,797.62. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Daniel Harris Meyer also recently made the following trade(s):

• On Friday, October 4th, Daniel Harris Meyer sold 10,000 shares of Shake Shack stock. The stock was sold at an average price of $110.08, for a total value of $1,100,800.00.
• On Thursday, September 26th, Daniel Harris Meyer sold 100 shares of Shake Shack stock. The stock was sold at an average price of $110.05, for a total value of $11,005.00.
• On Thursday, August 15th, Daniel Harris Meyer sold 10,000 shares of Shake Shack stock. The stock was sold at an average price of $110.24, for a total value of $1,102,400.00.

Shake Shack Stock Up 2.0 %

Shares of NYSE:SHAK opened at $124.10 on Monday. Shake Shack Inc. has a 52-week low of $54.06 and a 52-week high of $130.20. The stock has a market cap of $5.27 billion, a P/E ratio of 730.00, a price-to-earnings-growth ratio of 3.35 and a beta of 1.81. The business’s 50 day moving average is $106.17 and its 200 day moving average is $98.85. The company has a quick ratio of 2.03, a current ratio of 2.01 and a debt-to-equity ratio of 0.51.

Shake Shack (NYSE:SHAK) last announced its earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.05. The business had revenue of $316.92 million for the quarter, compared to analysts’ expectations of $316.03 million. Shake Shack had a return on equity of 6.28% and a net margin of 0.68%. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.17 EPS. Sell-side analysts predict that Shake Shack Inc. will post 0.79 EPS for the current year.

Institutional Trading of Shake Shack

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC purchased a new stake in shares of Shake Shack during the 1st quarter valued at $25,000. Quest Partners LLC purchased a new position in Shake Shack in the 2nd quarter worth $38,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Shake Shack during the 3rd quarter worth about $41,000. Kimelman & Baird LLC acquired a new stake in Shake Shack during the 2nd quarter worth about $45,000. Finally, Covestor Ltd grew its position in Shake Shack by 32,150.0% during the 1st quarter. Covestor Ltd now owns 645 shares of the company’s stock worth $67,000 after purchasing an additional 643 shares during the period. Institutional investors own 86.07% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. The Goldman Sachs Group lifted their price objective on Shake Shack from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $115.00 price objective on shares of Shake Shack in a research report on Wednesday, August 28th. Bank of America boosted their price objective on Shake Shack from $104.00 to $116.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Piper Sandler downgraded Shake Shack from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $121.00 to $114.00 in a research report on Monday, August 19th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $102.00 target price (down from $105.00) on shares of Shake Shack in a research report on Tuesday, September 24th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $110.00.

About Shake Shack

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, 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.