Healthcare of Ontario Pension Plan Trust Fund Makes New Investment in Shake Shack, Inc. $SHAK

Healthcare of Ontario Pension Plan Trust Fund bought a new position in Shake Shack, Inc. (NYSE:SHAK) during the first quarter, HoldingsChannel.com reports. The fund bought 223,507 shares of the company’s stock, valued at approximately $19,774,000.

Other hedge funds have also recently made changes to their positions in the company. Geneos Wealth Management Inc. bought a new position in shares of Shake Shack in the 1st quarter valued at about $26,000. Hilton Head Capital Partners LLC purchased a new position in Shake Shack in the fourth quarter worth about $25,000. Assetmark Inc. increased its stake in Shake Shack by 457.6% during the fourth quarter. Assetmark Inc. now owns 368 shares of the company’s stock worth $30,000 after acquiring an additional 302 shares during the last quarter. UMB Bank n.a. raised 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 purchased a new stake in Shake Shack during the third quarter valued at approximately $38,000. 86.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Shake Shack news, CEO Robert Lynch purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was purchased at an average cost of $60.39 per share, with a total value of $301,950.00. Following the purchase, the chief executive officer owned 77,845 shares of the company’s stock, valued at approximately $4,701,059.55. The trade was a 6.86% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 price of $61.42 per share, with a total value of $249,856.56. Following the acquisition, the director owned 13,407 shares in the company, valued at $823,457.94. This trade represents a 43.56% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have purchased 50,616 shares of company stock valued at $3,109,782. 8.32% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SHAK shares. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Shake Shack in a research note on Friday, May 8th. Stifel Nicolaus upgraded Shake Shack from a “hold” rating to a “buy” rating and decreased their price target for the company from $105.00 to $85.00 in a report on Friday, May 8th. BTIG Research restated a “neutral” rating on shares of Shake Shack in a research report on Wednesday, May 20th. Barclays dropped their price objective on shares of Shake Shack from $118.00 to $96.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Finally, Weiss Ratings cut shares of Shake Shack from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, June 8th. Fifteen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $89.39.

Shake Shack Stock Up 8.1%

Shares of NYSE SHAK opened at $61.71 on Tuesday. 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 has a market cap of $2.64 billion, a P/E ratio of 62.97, a PEG ratio of 4.41 and a beta of 1.63. Shake Shack, Inc. has a 1 year low of $51.60 and a 1 year high of $142.20. The firm has a 50-day simple moving average of $58.04 and a two-hundred day simple moving average of $79.74.

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.