Penn Capital Management Company LLC Acquires New Position in Shake Shack, Inc. $SHAK

Penn Capital Management Company LLC acquired a new stake in Shake Shack, Inc. (NYSE:SHAK) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 143,640 shares of the company’s stock, valued at approximately $8,438,000.

A number of other institutional investors also recently bought and sold shares of the stock. Fulcrum Asset Management LLP acquired a new stake in Shake Shack in the 3rd quarter worth approximately $493,000. Covestor Ltd increased its stake in Shake Shack by 94.0% during the 3rd quarter. Covestor Ltd now owns 1,426 shares of the company’s stock valued at $84,000 after purchasing an additional 691 shares in the last quarter. Hedeker Wealth LLC increased its stake in Shake Shack by 1.3% during the 3rd quarter. Hedeker Wealth LLC now owns 51,413 shares of the company’s stock valued at $3,017,000 after purchasing an additional 661 shares in the last quarter. Wedbush Securities Inc. increased its stake in Shake Shack by 269.6% during the 3rd quarter. Wedbush Securities Inc. now owns 14,520 shares of the company’s stock valued at $852,000 after purchasing an additional 10,591 shares in the last quarter. Finally, Sterling Capital Management LLC raised its holdings in shares of Shake Shack by 838.8% in the third quarter. Sterling Capital Management LLC now owns 1,305 shares of the company’s stock worth $77,000 after buying an additional 1,166 shares during the last quarter. 86.07% of the stock is currently owned by institutional investors and hedge funds.

Shake Shack Price Performance

Shares of NYSE:SHAK opened at $77.27 on Tuesday. Shake Shack, Inc. has a twelve month low of $51.60 and a twelve month high of $107.46. The company has a current ratio of 1.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.43. The company has a market cap of $3.31 billion, a PE ratio of 75.02, a price-to-earnings-growth ratio of 7.82 and a beta of 1.75. The company’s 50 day moving average is $65.19 and its 200 day moving average is $74.29.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Thursday, November 5th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.34 by $0.06. The business had revenue of $423.27 million during the quarter, compared to analysts’ expectations of $426.41 million. Shake Shack had a net margin of 2.56% and a return on equity of 9.29%. The business’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.36 EPS. On average, sell-side analysts forecast that Shake Shack, Inc. will post 1.14 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on SHAK shares. Piper Sandler lowered their price objective on shares of Shake Shack from $79.00 to $66.00 and set a “neutral” rating for the company in a research note on Tuesday, July 14th. Weiss Ratings raised Shake Shack from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, November 2nd. Robert W. Baird upgraded Shake Shack to a “hold” rating in a research note on Monday, August 24th. DA Davidson lifted their price target on Shake Shack from $70.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, TD Cowen reaffirmed a “hold” rating on shares of Shake Shack in a research report on Wednesday, August 5th. Sixteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $87.00.

About Shake Shack

Shake Shack operates a fast-casual restaurant business focused on burgers, chicken, hot dogs, crinkle-cut fries, shakes and frozen custard. Some locations also serve beer and wine. The company serves customers through restaurants and digital ordering, including delivery.

The business grew from a hot dog cart opened in New York City’s Madison Square Park in 2001. Shake Shack opened its first permanent kiosk in the park in 2004 and has since expanded its restaurant operations.

Shake Shack serves customers in the United States and internationally.