SG Americas Securities LLC Buys 12,307 Shares of Shake Shack, Inc. $SHAK

SG Americas Securities LLC grew its stake in shares of Shake Shack, Inc. (NYSE:SHAK) by 35.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 46,943 shares of the company’s stock after purchasing an additional 12,307 shares during the period. SG Americas Securities LLC owned approximately 0.11% of Shake Shack worth $4,153,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in SHAK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Shake Shack by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,627 shares of the company’s stock valued at $1,995,000 after buying an additional 976 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Shake Shack by 4,210.3% in the first quarter. Jones Financial Companies Lllp now owns 2,500 shares of the company’s stock worth $220,000 after acquiring an additional 2,442 shares in the last quarter. United Services Automobile Association acquired a new stake in Shake Shack in the first quarter valued at approximately $219,000. Geneos Wealth Management Inc. acquired a new stake in Shake Shack in the first quarter valued at approximately $26,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Shake Shack by 159.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 748 shares of the company’s stock valued at $105,000 after acquiring an additional 460 shares in the last quarter. Institutional investors own 86.07% of the company’s stock.

Insiders Place Their Bets

In related news, Director Josh Silverman acquired 8,290 shares of the company’s stock in a transaction on Friday, May 15th. The shares were acquired at an average cost of $60.38 per share, for a total transaction of $500,550.20. Following the purchase, the director owned 8,290 shares in the company, valued at approximately $500,550.20. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sumaiya Balbale acquired 4,068 shares of the business’s stock in a transaction on Friday, May 15th. The shares were purchased at an average cost 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 50,616 shares of company stock worth $3,109,782 in the last three months. 8.32% of the stock is owned by corporate insiders.

Shake Shack Stock Down 3.7%

SHAK stock opened at $54.79 on Tuesday. Shake Shack, Inc. has a twelve month low of $51.60 and a twelve month high of $144.65. The company has a quick ratio of 1.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.45. The stock’s 50 day moving average is $69.56 and its 200-day moving average is $83.35. The firm has a market capitalization of $2.34 billion, a PE ratio of 55.91, a P/E/G ratio of 2.52 and a beta of 1.63.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Bank of America raised Shake Shack from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $88.00 to $101.00 in a research report on Tuesday, March 31st. Mizuho set a $100.00 price target on shares of Shake Shack in a research report on Friday, May 8th. Weiss Ratings lowered shares of Shake Shack from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, June 8th. Jefferies Financial Group restated a “hold” rating and set a $66.00 price objective on shares of Shake Shack in a report on Tuesday, June 2nd. Finally, BNP Paribas Exane dropped their price objective on shares of Shake Shack from $100.00 to $77.00 and set an “outperform” rating on the stock in a research note on Thursday, June 4th. Fifteen investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $91.00.

Shake Shack Company 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.