Quantitative Investment Management LLC Purchases New Position in Shake Shack, Inc. $SHAK

Quantitative Investment Management LLC purchased a new stake in Shake Shack, Inc. (NYSE:SHAK) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,810 shares of the company’s stock, valued at approximately $493,000.

Several other hedge funds have also bought and sold shares of the stock. Swedbank AB acquired a new stake in shares of Shake Shack during the 4th quarter worth approximately $84,092,000. Adage Capital Partners GP L.L.C. acquired a new position in shares of Shake Shack in the 4th quarter valued at $40,829,000. Wellington Management Group LLP lifted its stake in shares of Shake Shack by 21.0% in the 3rd quarter. Wellington Management Group LLP now owns 2,590,911 shares of the company’s stock valued at $242,535,000 after purchasing an additional 450,406 shares during the period. Marshall Wace LLP boosted its holdings in Shake Shack by 285.2% during the third quarter. Marshall Wace LLP now owns 586,999 shares of the company’s stock worth $54,949,000 after buying an additional 434,625 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Shake Shack during the fourth quarter worth $20,455,000. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Shake Shack Stock Performance

Shares of NYSE:SHAK opened at $67.57 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.67 and a quick ratio of 1.64. Shake Shack, Inc. has a 1 year low of $51.60 and a 1 year high of $107.46. The firm has a market capitalization of $2.89 billion, a PE ratio of 71.88, a P/E/G ratio of 7.53 and a beta of 1.63. The business’s 50 day moving average price is $63.99 and its 200-day moving average price is $75.37.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.12. Shake Shack had a return on equity of 9.29% and a net margin of 2.56%.The company had revenue of $417.62 million for the quarter, compared to analyst estimates of $417.18 million. During the same quarter last year, the firm posted $0.44 EPS. The firm’s revenue for the quarter was up 17.2% on a year-over-year basis. As a group, equities research analysts expect that Shake Shack, Inc. will post 1.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SHAK shares. Zacks Research raised shares of Shake Shack from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 5th. Guggenheim lowered their target price on shares of Shake Shack from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Barclays lowered their target price on shares of Shake Shack from $118.00 to $96.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. TD Cowen restated a “hold” rating on shares of Shake Shack in a research note on Wednesday, August 5th. Finally, Oppenheimer set a $82.00 price target on Shake Shack and gave the stock an “outperform” rating in a report on Tuesday, June 2nd. Fifteen research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Shake Shack currently has an average rating of “Moderate Buy” and a consensus target price of $89.74.

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.