Legato Capital Management LLC Purchases 15,470 Shares of Shake Shack Inc. (NYSE:SHAK)

Legato Capital Management LLC grew its position in Shake Shack Inc. (NYSE:SHAK) by 219.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,519 shares of the company’s stock after acquiring an additional 15,470 shares during the quarter. Legato Capital Management LLC owned 0.05% of Shake Shack worth $2,923,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of SHAK. Mowery & Schoenfeld Wealth Management LLC bought a new position in Shake Shack during the third quarter worth about $41,000. R Squared Ltd bought a new stake in shares of Shake Shack in the 4th quarter valued at approximately $56,000. Covestor Ltd raised its holdings in shares of Shake Shack by 41.6% in the 3rd quarter. Covestor Ltd now owns 698 shares of the company’s stock worth $72,000 after buying an additional 205 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Shake Shack by 56.3% during the 4th quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock worth $96,000 after buying an additional 265 shares during the period. Finally, Quest Partners LLC lifted its position in shares of Shake Shack by 76.1% during the 3rd quarter. Quest Partners LLC now owns 752 shares of the company’s stock worth $78,000 after buying an additional 325 shares during the period. Institutional investors own 86.07% of the company’s stock.

Shake Shack Price Performance

Shares of SHAK stock opened at $106.82 on Wednesday. The firm has a market cap of $4.54 billion, a price-to-earnings ratio of 628.36 and a beta of 1.86. Shake Shack Inc. has a 12 month low of $75.46 and a 12 month high of $139.89. The company has a quick ratio of 1.98, a current ratio of 2.01 and a debt-to-equity ratio of 0.51. The stock has a 50-day moving average price of $125.55 and a 200 day moving average price of $115.50.

Insider Transactions at Shake Shack

In other news, CFO Katherine Irene Fogertey sold 642 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $137.51, for a total value of $88,281.42. Following the transaction, the chief financial officer now owns 30,717 shares of the company’s stock, valued at $4,223,894.67. This represents a 2.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.73% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SHAK. Oppenheimer increased their price objective on Shake Shack from $145.00 to $155.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. Wedbush reaffirmed a “neutral” rating and issued a $130.00 target price on shares of Shake Shack in a report on Wednesday, January 15th. UBS Group lifted their price target on shares of Shake Shack from $130.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Truist Financial reduced their price target on shares of Shake Shack from $149.00 to $143.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, Barclays raised shares of Shake Shack from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $125.00 to $159.00 in a report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Shake Shack currently has a consensus rating of “Hold” and an average price target of $123.78.

About Shake Shack

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.