Delta Global Management LP Takes Position in Shake Shack, Inc. $SHAK

Delta Global Management LP purchased a new position in Shake Shack, Inc. (NYSE:SHAK) during the first quarter, Holdings Channel.com reports. The firm purchased 21,024 shares of the company’s stock, valued at approximately $1,860,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hilton Head Capital Partners LLC acquired a new stake in Shake Shack during the fourth quarter valued at $25,000. Geneos Wealth Management Inc. acquired a new position in Shake Shack in the 1st quarter worth about $26,000. Assetmark Inc. increased its position in Shake Shack by 457.6% in the 4th quarter. Assetmark Inc. now owns 368 shares of the company’s stock worth $30,000 after purchasing an additional 302 shares during the last quarter. UMB Bank n.a. raised its stake in shares of Shake Shack by 42.2% during the 4th quarter. UMB Bank n.a. now owns 391 shares of the company’s stock worth $32,000 after purchasing an additional 116 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new stake in shares of Shake Shack during the 3rd quarter worth about $38,000. 86.07% of the stock is currently owned by hedge funds and other institutional investors.

Shake Shack Stock Down 0.0%

SHAK opened at $57.09 on Monday. The firm has a market cap of $2.44 billion, a P/E ratio of 58.25, a price-to-earnings-growth ratio of 4.41 and a beta of 1.63. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.66 and a current ratio of 1.69. The business has a 50 day moving average price of $57.99 and a 200 day moving average price of $79.94. Shake Shack, Inc. has a twelve month low of $51.60 and a twelve month high of $142.20.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SHAK shares. 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. Gordon Haskett cut their price objective on shares of Shake Shack from $90.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, June 3rd. Wells Fargo & Company reduced their target price on shares of Shake Shack from $80.00 to $65.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 3rd. The Goldman Sachs Group reissued a “buy” rating on shares of Shake Shack in a research report on Friday, May 8th. Finally, Piper Sandler dropped their price target on shares of Shake Shack from $79.00 to $66.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 14th. Fifteen research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $89.39.

Insider Buying and Selling

In other Shake Shack news, Director Daniel Harris Meyer purchased 32,258 shares of the stock in a transaction dated Friday, May 15th. The shares were bought at an average cost of $61.88 per share, with a total value of $1,996,125.04. Following the completion of the transaction, the director owned 378,670 shares in the company, valued at $23,432,099.60. This trade represents a 9.31% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sumaiya Balbale bought 4,068 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were bought at an average cost of $61.42 per share, for a total transaction of $249,856.56. Following the transaction, the director directly owned 13,407 shares of the company’s stock, valued at $823,457.94. This trade represents a 43.56% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have purchased 50,616 shares of company stock valued at $3,109,782. 8.32% of the stock is owned by corporate 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.