Wasatch Advisors LP Buys 57,612 Shares of Shake Shack, Inc. $SHAK

Wasatch Advisors LP lifted its stake in shares of Shake Shack, Inc. (NYSE:SHAK) by 16.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 407,283 shares of the company’s stock after purchasing an additional 57,612 shares during the period. Wasatch Advisors LP owned 0.95% of Shake Shack worth $36,032,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of SHAK. Wesbanco Bank Inc. purchased a new stake in Shake Shack in the first quarter worth $1,416,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych bought a new stake in Shake Shack in the 1st quarter valued at about $88,000. Louisiana State Employees Retirement System purchased a new stake in Shake Shack during the first quarter valued at about $1,584,000. Hilton Head Capital Partners LLC boosted its position in Shake Shack by 65.0% during the first quarter. Hilton Head Capital Partners LLC now owns 513 shares of the company’s stock worth $45,000 after purchasing an additional 202 shares during the period. Finally, Murphy & Mullick Capital Management Corp boosted its position in Shake Shack by 42.5% during the first quarter. Murphy & Mullick Capital Management Corp now owns 738 shares of the company’s stock worth $65,000 after purchasing an additional 220 shares during the period. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on SHAK shares. BTIG Research restated a “neutral” rating on shares of Shake Shack in a research note on Wednesday, May 20th. DA Davidson dropped their target price on Shake Shack from $85.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, June 2nd. Barclays cut their price target on Shake Shack from $118.00 to $96.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Robert W. Baird dropped their price objective on Shake Shack from $76.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. Finally, Mizuho set a $100.00 target price on Shake Shack in a research note on Friday, May 8th. Fifteen investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $91.00.

Shake Shack Stock Performance

NYSE SHAK opened at $56.76 on Friday. The company’s 50 day simple moving average is $70.46 and its two-hundred day simple moving average is $83.48. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.69 and a quick ratio of 1.66. Shake Shack, Inc. has a 1 year low of $51.60 and a 1 year high of $144.65. The stock has a market capitalization of $2.43 billion, a PE ratio of 57.92, a P/E/G ratio of 2.45 and a beta of 1.63.

Insider Transactions at Shake Shack

In other Shake Shack news, Director Jeffrey Flug acquired 1,000 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were bought at an average price of $61.30 per share, for a total transaction of $61,300.00. Following the completion of the transaction, the director owned 5,470 shares of the company’s stock, valued at approximately $335,311. This represents a 22.37% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel Harris Meyer acquired 32,258 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were acquired at an average cost of $61.88 per share, with a total value of $1,996,125.04. Following the purchase, the director directly owned 378,670 shares of the company’s stock, valued at $23,432,099.60. This trade represents a 9.31% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have purchased 50,616 shares of company stock valued at $3,109,782. Corporate insiders own 8.32% 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.