Pathstone Holdings LLC Grows Stake in Shake Shack Inc. (NYSE:SHAK)

Pathstone Holdings LLC increased its holdings in Shake Shack Inc. (NYSE:SHAK) by 8.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,840 shares of the company’s stock after purchasing an additional 1,146 shares during the period. Pathstone Holdings LLC’s holdings in Shake Shack were worth $1,532,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Marshall Wace LLP increased its holdings in shares of Shake Shack by 101.2% in the second quarter. Marshall Wace LLP now owns 544,336 shares of the company’s stock worth $48,990,000 after purchasing an additional 273,822 shares during the last quarter. Armistice Capital LLC grew its holdings in Shake Shack by 69.1% during the 2nd quarter. Armistice Capital LLC now owns 579,904 shares of the company’s stock valued at $52,191,000 after buying an additional 236,950 shares in the last quarter. Point72 Asset Management L.P. increased its stake in Shake Shack by 471.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 255,374 shares of the company’s stock worth $22,984,000 after acquiring an additional 210,717 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Shake Shack by 41.9% during the 2nd quarter. Renaissance Technologies LLC now owns 437,600 shares of the company’s stock worth $39,384,000 after acquiring an additional 129,200 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Shake Shack by 268.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 104,358 shares of the company’s stock valued at $10,771,000 after acquiring an additional 75,997 shares during the last quarter. 86.07% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Daniel Harris Meyer sold 10,000 shares of Shake Shack stock in a transaction on Friday, October 4th. The stock was sold at an average price of $110.08, for a total value of $1,100,800.00. Following the transaction, the director now directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Katherine Irene Fogertey sold 321 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $98.57, for a total value of $31,640.97. Following the sale, the chief financial officer now owns 36,822 shares of the company’s stock, valued at $3,629,544.54. This trade represents a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,433 shares of company stock worth $7,654,856. Company insiders own 9.73% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on SHAK. TD Cowen reaffirmed a “buy” rating and set a $125.00 price target on shares of Shake Shack in a research note on Wednesday, September 18th. JPMorgan Chase & Co. restated an “underweight” rating and set a $102.00 target price (down from $105.00) on shares of Shake Shack in a research report on Tuesday, September 24th. Wedbush reiterated a “neutral” rating and issued a $90.00 price target on shares of Shake Shack in a research report on Thursday, August 1st. Robert W. Baird upped their price objective on Shake Shack from $93.00 to $105.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Finally, Bank of America lifted their target price on Shake Shack from $104.00 to $116.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $112.94.

Shake Shack Price Performance

Shares of SHAK stock opened at $132.35 on Friday. The company has a market capitalization of $5.62 billion, a P/E ratio of 779.09, a P/E/G ratio of 2.94 and a beta of 1.81. The company’s 50-day simple moving average is $115.48 and its two-hundred day simple moving average is $101.93. Shake Shack Inc. has a one year low of $59.92 and a one year high of $134.90. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.01 and a quick ratio of 1.98.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.05. The company had revenue of $316.92 million for the quarter, compared to analysts’ expectations of $316.03 million. Shake Shack had a return on equity of 6.28% and a net margin of 0.68%. Shake Shack’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.17 earnings per share. As a group, equities analysts anticipate that Shake Shack Inc. will post 0.82 EPS for the current year.

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.