Alta Wealth Advisors LLC Acquires Shares of 2,622 Shake Shack, Inc. (NYSE:SHAK)

by · The Cerbat Gem

Alta Wealth Advisors LLC acquired a new position in Shake Shack, Inc. (NYSE:SHAK – Free Report) in the first quarter, HoldingsChannel.com reports. The fund acquired 2,622 shares of the company’s stock, valued at approximately $231,000.

Several other hedge funds have also modified their holdings of the company. Nemes Rush Group LLC purchased a new position in Shake Shack during the fourth quarter worth approximately $29,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Shake Shack during the 4th quarter valued at approximately $32,000. Farther Finance Advisors LLC grew its stake in Shake Shack by 939.3% in the 1st quarter. Farther Finance Advisors LLC now owns 291 shares of the company’s stock valued at $26,000 after acquiring an additional 263 shares during the period. Garde Capital Inc. purchased a new stake in Shake Shack in the 1st quarter worth $35,000. Finally, Princeton Global Asset Management LLC purchased a new stake in Shake Shack in the 1st quarter worth $44,000. 86.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on SHAK shares. Wells Fargo & Company lifted their target price on shares of Shake Shack from $95.00 to $115.00 and gave the company an “equal weight” rating in a research report on Friday, May 30th. Loop Capital upgraded Shake Shack from a “hold” rating to a “buy” rating and set a $127.00 price objective on the stock in a report on Tuesday, April 1st. Barclays increased their target price on Shake Shack from $102.00 to $166.00 and gave the company an “overweight” rating in a report on Thursday. Stifel Nicolaus decreased their target price on Shake Shack from $120.00 to $97.00 and set a “hold” rating on the stock in a research report on Tuesday, April 15th. Finally, The Goldman Sachs Group boosted their price target on Shake Shack from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, June 4th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $123.95.

Get Our Latest Stock Report on SHAK

Insider Transactions at Shake Shack

In other news, Director Daniel Harris Meyer sold 10,000 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $130.10, for a total transaction of $1,301,000.00. Following the completion of the transaction, the director now directly owns 396,636 shares in the company, valued at approximately $51,602,343.60. This represents a 2.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Katherine Irene Fogertey sold 562 shares of the firm’s stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $124.84, for a total value of $70,160.08. Following the sale, the chief financial officer now directly owns 35,188 shares of the company’s stock, valued at $4,392,869.92. The trade was a 1.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,698 shares of company stock worth $4,499,820 in the last 90 days. Insiders own 9.73% of the company’s stock.

Shake Shack Stock Up 3.4%

NYSE SHAK opened at $138.46 on Friday. The company has a quick ratio of 1.88, a current ratio of 1.91 and a debt-to-equity ratio of 0.50. Shake Shack, Inc. has a 52 week low of $72.93 and a 52 week high of $140.97. The business’s fifty day simple moving average is $114.37 and its 200-day simple moving average is $110.80. The firm has a market cap of $5.91 billion, a PE ratio of 494.50, a P/E/G ratio of 3.17 and a beta of 1.77.

Shake Shack (NYSE:SHAK – Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). Shake Shack had a return on equity of 8.45% and a net margin of 0.97%. The firm had revenue of $320.90 million for the quarter, compared to analysts’ expectations of $330.24 million. During the same period last year, the firm earned $0.13 earnings per share. Shake Shack’s revenue for the quarter was up 10.5% on a year-over-year basis. As a group, equities analysts anticipate that Shake Shack, Inc. will post 1.26 earnings per share for the current year.

About Shake Shack

(Free Report)

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.

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