Entropy Technologies LP Acquires 23,497 Shares of Shake Shack, Inc. $SHAK

Entropy Technologies LP boosted its holdings in shares of Shake Shack, Inc. (NYSE:SHAK) by 374.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,778 shares of the company’s stock after acquiring an additional 23,497 shares during the period. Entropy Technologies LP owned approximately 0.07% of Shake Shack worth $2,417,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its holdings in Shake Shack by 21.0% during the third quarter. Wellington Management Group LLP now owns 2,590,911 shares of the company’s stock worth $242,535,000 after acquiring an additional 450,406 shares in the last quarter. 12 West Capital Management LP lifted its holdings in Shake Shack by 13.6% during the third quarter. 12 West Capital Management LP now owns 1,753,595 shares of the company’s stock worth $164,154,000 after acquiring an additional 210,000 shares in the last quarter. State Street Corp raised its stake in shares of Shake Shack by 1.1% in the 2nd quarter. State Street Corp now owns 1,470,084 shares of the company’s stock valued at $206,694,000 after purchasing an additional 15,607 shares during the period. Swedbank AB acquired a new stake in shares of Shake Shack in the 4th quarter valued at about $84,092,000. Finally, Van Berkom & Associates Inc. raised its stake in shares of Shake Shack by 27.6% in the 4th quarter. Van Berkom & Associates Inc. now owns 923,347 shares of the company’s stock valued at $74,948,000 after purchasing an additional 199,687 shares during the period. 86.07% of the stock is currently owned by institutional investors.

Shake Shack Price Performance

Shares of NYSE SHAK opened at $58.36 on Tuesday. The business’s 50 day moving average price is $77.65 and its two-hundred day moving average price is $85.22. The company has a market cap of $2.50 billion, a PE ratio of 59.55, a price-to-earnings-growth ratio of 2.56 and a beta of 1.63. The company has a quick ratio of 1.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.45. Shake Shack, Inc. has a twelve month low of $51.60 and a twelve month high of $144.65.

Analysts Set New Price Targets

Several research firms have issued reports on SHAK. Morgan Stanley reissued an “equal weight” rating and issued a $76.00 price target (down from $115.00) on shares of Shake Shack in a research note on Wednesday, June 3rd. Bank of America raised Shake Shack from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $88.00 to $101.00 in a research note on Tuesday, March 31st. DA Davidson dropped their price target on Shake Shack from $85.00 to $70.00 and set a “buy” rating on the stock in a research note on Tuesday, June 2nd. The Goldman Sachs Group reissued a “buy” rating on shares of Shake Shack in a research note on Friday, May 8th. Finally, Oppenheimer set a $82.00 price target on Shake Shack and gave the company an “outperform” rating in a research note on Tuesday, June 2nd. Sixteen research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.56.

Insider Activity

In other news, Director Sumaiya Balbale acquired 4,068 shares of Shake Shack stock in a transaction dated Friday, May 15th. The stock was bought at an average price of $61.42 per share, for a total transaction of $249,856.56. Following the completion of the acquisition, the director directly owned 13,407 shares in the company, valued at approximately $823,457.94. The trade was a 43.56% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Robert Lynch acquired 5,000 shares of Shake Shack stock in a transaction dated Friday, May 15th. The shares were purchased at an average price of $60.39 per share, with a total value of $301,950.00. Following the acquisition, the chief executive officer owned 77,845 shares of the company’s stock, valued at approximately $4,701,059.55. This trade represents a 6.86% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have acquired 50,616 shares of company stock valued at $3,109,782. 8.32% of the stock is owned by insiders.

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.