12 West Capital Management LP Buys 210,000 Shares of Shake Shack, Inc. $SHAK

12 West Capital Management LP raised its stake in shares of Shake Shack, Inc. (NYSE:SHAK) by 12.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,963,595 shares of the company’s stock after buying an additional 210,000 shares during the period. Shake Shack comprises approximately 19.0% of 12 West Capital Management LP’s holdings, making the stock its largest position. 12 West Capital Management LP’s holdings in Shake Shack were worth $159,385,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Swedbank AB acquired a new stake in shares of Shake Shack during the fourth quarter worth approximately $84,092,000. Adage Capital Partners GP L.L.C. bought a new position in Shake Shack during the fourth quarter valued at approximately $40,829,000. Wellington Management Group LLP raised its position 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 valued at $242,535,000 after acquiring an additional 450,406 shares in the last quarter. Marshall Wace LLP raised its position in Shake Shack by 285.2% during the third quarter. Marshall Wace LLP now owns 586,999 shares of the company’s stock valued at $54,949,000 after acquiring an additional 434,625 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in Shake Shack during the fourth quarter valued at approximately $20,455,000. Institutional investors own 86.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SHAK shares. 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 report on Wednesday, June 3rd. Piper Sandler set a $79.00 target price on shares of Shake Shack in a research report on Thursday, May 7th. TD Cowen reaffirmed a “hold” rating and set a $70.00 target price on shares of Shake Shack in a research report on Wednesday, June 3rd. Citigroup reaffirmed a “buy” rating on shares of Shake Shack in a research report on Wednesday, June 3rd. Finally, Mizuho set a $100.00 target price on shares of Shake Shack in a research report on Friday, May 8th. 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $94.56.

Insiders Place Their Bets

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

Shake Shack Stock Down 3.0%

SHAK opened at $58.60 on Thursday. Shake Shack, Inc. has a fifty-two week low of $51.60 and a fifty-two week high of $144.65. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.69 and a quick ratio of 1.66. The firm’s fifty day moving average price is $76.39 and its two-hundred day moving average price is $84.81. The company has a market capitalization of $2.51 billion, a P/E ratio of 59.80, a P/E/G ratio of 2.68 and a beta of 1.63.

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.