Shake Shack Inc. (NYSE:SHAK) Shares Sold by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. reduced its position in Shake Shack Inc. (NYSE:SHAK) by 8.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,165 shares of the company’s stock after selling 107 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Shake Shack were worth $120,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Hsbc Holdings PLC boosted its position in Shake Shack by 303.3% during the 2nd quarter. Hsbc Holdings PLC now owns 16,604 shares of the company’s stock worth $1,460,000 after purchasing an additional 12,487 shares during the period. Fisher Asset Management LLC boosted its position in shares of Shake Shack by 4.8% in the third quarter. Fisher Asset Management LLC now owns 354,114 shares of the company’s stock worth $36,548,000 after buying an additional 16,097 shares during the period. GDS Wealth Management purchased a new stake in shares of Shake Shack in the third quarter worth about $417,000. Qsemble Capital Management LP acquired a new stake in shares of Shake Shack in the second quarter valued at about $661,000. Finally, Jennison Associates LLC raised its holdings in shares of Shake Shack by 10.8% during the 3rd quarter. Jennison Associates LLC now owns 294,111 shares of the company’s stock valued at $30,355,000 after buying an additional 28,661 shares during the period. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Shake Shack Price Performance

Shares of NYSE SHAK opened at $137.64 on Friday. The company has a current ratio of 2.01, a quick ratio of 1.98 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $5.85 billion, a price-to-earnings ratio of 809.65, a price-to-earnings-growth ratio of 2.85 and a beta of 1.85. Shake Shack Inc. has a twelve month low of $60.84 and a twelve month high of $138.60. The business has a 50 day simple moving average of $118.79 and a 200-day simple moving average of $103.27.

Shake Shack (NYSE:SHAK) last released its earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.05. The firm had revenue of $316.92 million during the quarter, compared to analyst estimates of $316.03 million. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.17 earnings per share. As a group, equities research analysts expect that Shake Shack Inc. will post 0.82 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SHAK shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $115.00 price objective on shares of Shake Shack in a research report on Wednesday, August 28th. Oppenheimer raised their price target on shares of Shake Shack from $122.00 to $135.00 and gave the company an “outperform” rating in a report on Monday, October 28th. Bank of America boosted their price objective on shares of Shake Shack from $104.00 to $116.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Barclays raised their target price on Shake Shack from $115.00 to $125.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Finally, Piper Sandler cut Shake Shack from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $121.00 to $114.00 in a research note on Monday, August 19th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $112.94.

Insider Activity at Shake Shack

In other Shake Shack news, CFO Katherine Irene Fogertey sold 321 shares of Shake Shack stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $103.93, for a total value of $33,361.53. Following the completion of the transaction, the chief financial officer now directly owns 36,180 shares in the company, valued at $3,760,187.40. The trade was a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Daniel Harris Meyer sold 30,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $121.79, for a total value of $3,653,700.00. Following the sale, the director now owns 407,646 shares in the company, valued at $49,647,206.34. The trade was a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 63,112 shares of company stock valued at $7,623,215 in the last quarter. Insiders own 9.73% of the company’s stock.

Shake Shack Profile

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.