Shake Shack Inc (NYSE:SHAK) Director Sells $1,765,750.00 in Stock

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Shake Shack Inc (NYSE:SHAK) Director Daniel Harris Meyer sold 25,000 shares of the business’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $70.63, for a total transaction of $1,765,750.00. Following the completion of the sale, the director now directly owns 1,364 shares of the company’s stock, valued at approximately $96,339.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Daniel Harris Meyer also recently made the following trade(s):

  • On Tuesday, September 1st, Daniel Harris Meyer sold 50,000 shares of Shake Shack stock. The shares were sold at an average price of $68.17, for a total transaction of $3,408,500.00.
  • On Thursday, August 27th, Daniel Harris Meyer sold 25,000 shares of Shake Shack stock. The shares were sold at an average price of $65.16, for a total transaction of $1,629,000.00.
  • On Friday, August 14th, Daniel Harris Meyer sold 1,666 shares of Shake Shack stock. The stock was sold at an average price of $55.06, for a total transaction of $91,729.96.
  • On Tuesday, August 11th, Daniel Harris Meyer sold 23,334 shares of Shake Shack stock. The stock was sold at an average price of $55.03, for a total transaction of $1,284,070.02.
  • On Wednesday, July 29th, Daniel Harris Meyer sold 25,000 shares of Shake Shack stock. The shares were sold at an average price of $55.09, for a total transaction of $1,377,250.00.

SHAK stock opened at $72.16 on Wednesday. The company has a fifty day moving average price of $58.62 and a two-hundred day moving average price of $51.64. Shake Shack Inc has a one year low of $30.01 and a one year high of $104.86. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of -343.62 and a beta of 1.72.

Shake Shack (NYSE:SHAK) last announced its earnings results on Thursday, July 30th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.37) by ($0.08). The business had revenue of $91.79 million during the quarter, compared to the consensus estimate of $93.29 million. Shake Shack had a negative net margin of 1.64% and a negative return on equity of 1.40%. Research analysts expect that Shake Shack Inc will post -0.77 EPS for the current fiscal year.

SHAK has been the topic of several research reports. MKM Partners dropped their price objective on shares of Shake Shack from $59.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, July 10th. TheStreet downgraded shares of Shake Shack from a “c-” rating to a “d+” rating in a research report on Tuesday, August 11th. Wedbush raised shares of Shake Shack from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $53.00 to $77.00 in a report on Thursday, August 20th. Jefferies Financial Group upped their price objective on shares of Shake Shack from $45.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, July 31st. Finally, Credit Suisse Group upped their price objective on shares of Shake Shack from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company’s stock. Shake Shack has a consensus rating of “Hold” and a consensus price target of $57.94.

A number of hedge funds have recently bought and sold shares of SHAK. Strs Ohio purchased a new stake in shares of Shake Shack during the 2nd quarter valued at $47,000. Mutual of America Capital Management LLC grew its stake in shares of Shake Shack by 25.3% during the 1st quarter. Mutual of America Capital Management LLC now owns 1,382 shares of the company’s stock worth $52,000 after acquiring an additional 279 shares during the period. Truvestments Capital LLC bought a new position in shares of Shake Shack during the 1st quarter worth $55,000. Cornerstone Advisors Inc. bought a new position in shares of Shake Shack during the 2nd quarter worth $75,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Shake Shack during the 2nd quarter worth $75,000. 92.25% of the stock is owned by institutional investors and hedge funds.

About Shake Shack

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, hot dogs, chicken, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. As of December 26, 2018, it operated 208 Shacks, including 124 domestic company-operated Shacks, 12 domestic licensed Shacks, and 72 international licensed Shacks.

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Insider Buying and Selling by Quarter for Shake Shack (NYSE:SHAK)

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