Shake Shack (NYSE:SHAK) Director Sumaiya Balbale Acquires 4,068 Shares of Stock

Shake Shack, Inc. (NYSE:SHAK) Director Sumaiya Balbale acquired 4,068 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were acquired at an average cost of $61.42 per share, for a total transaction of $249,856.56. Following the purchase, the director directly owned 13,407 shares of the company’s stock, valued at $823,457.94. This represents a 43.56% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link.

Shake Shack Trading Down 1.2%

NYSE:SHAK opened at $59.66 on Tuesday. Shake Shack, Inc. has a one year low of $59.49 and a one year high of $144.65. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.69 and a quick ratio of 1.66. The company’s 50-day simple moving average is $89.62 and its 200 day simple moving average is $89.60. The firm has a market capitalization of $2.55 billion, a P/E ratio of 60.88, a PEG ratio of 2.50 and a beta of 1.78.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.00 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.11). Shake Shack had a return on equity of 9.62% and a net margin of 2.76%.The business had revenue of $366.74 million for the quarter, compared to the consensus estimate of $372.43 million. During the same period in the previous year, the firm earned $0.14 EPS. The company’s revenue was up 14.3% on a year-over-year basis. As a group, analysts forecast that Shake Shack, Inc. will post 1.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SHAK shares. Morgan Stanley reissued an “overweight” rating on shares of Shake Shack in a research note on Friday, May 8th. Raymond James Financial set a $140.00 price objective on shares of Shake Shack in a research note on Wednesday, January 21st. Wells Fargo & Company dropped their target price on shares of Shake Shack from $100.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Friday, May 8th. Zacks Research upgraded shares of Shake Shack from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. Finally, Weiss Ratings downgraded shares of Shake Shack from a “hold (c)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $107.08.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. bought a new position in Shake Shack during the first quarter valued at approximately $26,000. Hilton Head Capital Partners LLC bought a new position in Shake Shack during the fourth quarter valued at approximately $25,000. Assetmark Inc. lifted its position in Shake Shack by 457.6% during the fourth quarter. Assetmark Inc. now owns 368 shares of the company’s stock valued at $30,000 after purchasing an additional 302 shares during the period. UMB Bank n.a. lifted its position in Shake Shack by 42.2% during the fourth quarter. UMB Bank n.a. now owns 391 shares of the company’s stock valued at $32,000 after purchasing an additional 116 shares during the period. Finally, Advisory Services Network LLC bought a new position in Shake Shack during the third quarter valued at approximately $38,000. Institutional investors own 86.07% of the company’s stock.

About Shake Shack

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.