Dynamic Technology Lab Private Ltd Cuts Holdings in Shake Shack Inc. (NYSE:SHAK)

Dynamic Technology Lab Private Ltd decreased its stake in Shake Shack Inc. (NYSE:SHAK) by 43.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,959 shares of the company’s stock after selling 22,468 shares during the period. Dynamic Technology Lab Private Ltd owned about 0.07% of Shake Shack worth $2,989,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Shake Shack during the third quarter valued at about $41,000. Quest Partners LLC purchased a new position in shares of Shake Shack during the 2nd quarter valued at about $38,000. Kimelman & Baird LLC bought a new stake in Shake Shack in the 2nd quarter worth approximately $45,000. Covestor Ltd boosted its stake in Shake Shack by 41.6% in the third quarter. Covestor Ltd now owns 698 shares of the company’s stock worth $72,000 after buying an additional 205 shares in the last quarter. Finally, CWM LLC grew its position in Shake Shack by 24.7% during the second quarter. CWM LLC now owns 1,046 shares of the company’s stock valued at $94,000 after acquiring an additional 207 shares during the last quarter. 86.07% of the stock is owned by institutional investors.

Shake Shack Stock Up 0.5 %

Shares of NYSE SHAK opened at $123.01 on Monday. The firm has a fifty day simple moving average of $113.75 and a two-hundred day simple moving average of $101.34. The firm has a market capitalization of $5.23 billion, a PE ratio of 723.59, a price-to-earnings-growth ratio of 2.79 and a beta of 1.81. The company has a current ratio of 2.01, a quick ratio of 1.98 and a debt-to-equity ratio of 0.51. Shake Shack Inc. has a 12 month low of $59.92 and a 12 month high of $134.90.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.20 by $0.05. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The business had revenue of $316.92 million during the quarter, compared to analyst estimates of $316.03 million. During the same period last year, the business posted $0.17 earnings per share. Shake Shack’s quarterly revenue was up 14.7% compared to the same quarter last year. Equities analysts expect that Shake Shack Inc. will post 0.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SHAK. TD Cowen restated a “buy” rating and issued a $125.00 price objective on shares of Shake Shack in a report on Wednesday, September 18th. Bank of America upped their price target on shares of Shake Shack from $104.00 to $116.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Capital One Financial began coverage on Shake Shack in a research note on Monday, July 29th. They set an “overweight” rating and a $95.00 price objective on the stock. Robert W. Baird boosted their target price on Shake Shack from $93.00 to $105.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, Truist Financial raised their price target on Shake Shack from $127.00 to $144.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Shake Shack has an average rating of “Hold” and a consensus target price of $112.94.

Insider Activity at Shake Shack

In other Shake Shack news, CFO Katherine Irene Fogertey sold 321 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $103.93, for a total transaction of $33,361.53. Following the completion of the transaction, the chief financial officer now owns 36,180 shares of the company’s stock, valued at approximately $3,760,187.40. This trade represents a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel Harris Meyer sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $110.08, for a total value of $1,100,800.00. Following the completion of the sale, the director now directly owns 460,337 shares in the company, valued at approximately $50,673,896.96. This represents a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 63,433 shares of company stock worth $7,654,856 over the last ninety days. 9.73% of the stock is owned by corporate insiders.

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.