Shake Shack Inc. (NYSE:SHAK) Shares Sold by CreativeOne Wealth LLC

CreativeOne Wealth LLC trimmed its holdings in Shake Shack Inc. (NYSE:SHAK) by 9.9% in the third quarter, Holdings Channel.com reports. The fund owned 2,260 shares of the company’s stock after selling 249 shares during the period. CreativeOne Wealth LLC’s holdings in Shake Shack were worth $233,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD lifted its stake in Shake Shack by 7.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,883 shares of the company’s stock valued at $2,173,000 after buying an additional 1,358 shares in the last quarter. CWM LLC lifted its stake in Shake Shack by 24.7% during the second quarter. CWM LLC now owns 1,046 shares of the company’s stock valued at $94,000 after buying an additional 207 shares in the last quarter. SG Americas Securities LLC lifted its stake in Shake Shack by 130.2% during the second quarter. SG Americas Securities LLC now owns 7,803 shares of the company’s stock valued at $702,000 after buying an additional 4,414 shares in the last quarter. Sound Income Strategies LLC purchased a new stake in Shake Shack during the second quarter valued at about $153,000. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Shake Shack by 5.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,855 shares of the company’s stock valued at $347,000 after buying an additional 212 shares in the last quarter. 86.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on SHAK. Oppenheimer upped their price objective on shares of Shake Shack from $122.00 to $135.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $102.00 price objective (down from $105.00) on shares of Shake Shack in a research note on Tuesday, September 24th. TD Cowen reissued a “buy” rating and issued a $125.00 price target on shares of Shake Shack in a research report on Wednesday, September 18th. Piper Sandler lowered shares of Shake Shack from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $121.00 to $114.00 in a research report on Monday, August 19th. Finally, Bank of America increased their price target on shares of Shake Shack from $104.00 to $116.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $112.94.

Shake Shack Trading Down 0.9 %

NYSE:SHAK opened at $132.34 on Wednesday. The stock’s 50 day moving average price is $117.61 and its 200 day moving average price is $102.82. Shake Shack Inc. has a 52 week low of $60.84 and a 52 week high of $135.76. The company has a market capitalization of $5.62 billion, a P/E ratio of 778.47, a P/E/G ratio of 3.03 and a beta of 1.85. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.98 and a current ratio of 2.01.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.20 by $0.05. Shake Shack had a return on equity of 6.28% and a net margin of 0.68%. The company had revenue of $316.92 million for the quarter, compared to the consensus estimate of $316.03 million. During the same quarter last year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. On average, research analysts forecast that Shake Shack Inc. will post 0.82 EPS for the current fiscal year.

Insider Buying and Selling at Shake Shack

In other Shake Shack news, CFO Katherine Irene Fogertey sold 321 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $103.93, for a total transaction of $33,361.53. Following the transaction, the chief financial officer now owns 36,180 shares in the company, valued at $3,760,187.40. This trade represents a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Daniel Harris Meyer sold 10,000 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $110.08, for a total value of $1,100,800.00. Following the transaction, the director now owns 460,337 shares in the company, valued at approximately $50,673,896.96. This trade represents a 2.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 63,112 shares of company stock worth $7,623,215 over the last 90 days. Insiders own 9.73% of the company’s stock.

Shake Shack Company Profile

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, chicken, hot dogs, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. The company was founded in 2001 and is headquartered in New York, New York.