10,591 Shake Shack, Inc. $SHAK Shares Purchased by Wedbush Securities Inc.

Wedbush Securities Inc. raised its stake in Shake Shack, Inc. (NYSE:SHAK) by 269.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,520 shares of the company’s stock after purchasing an additional 10,591 shares during the quarter. Wedbush Securities Inc.’s holdings in Shake Shack were worth $852,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Sterling Capital Management LLC grew its holdings in Shake Shack by 838.8% during the third quarter. Sterling Capital Management LLC now owns 1,305 shares of the company’s stock worth $77,000 after buying an additional 1,166 shares in the last quarter. Root Financial Partners LLC purchased a new stake in Shake Shack in the 3rd quarter valued at $31,000. IFP Advisors Inc raised its position in Shake Shack by 35.7% in the 3rd quarter. IFP Advisors Inc now owns 1,254 shares of the company’s stock valued at $74,000 after buying an additional 330 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Shake Shack by 48.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 323,692 shares of the company’s stock valued at $18,994,000 after acquiring an additional 106,075 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Shake Shack by 50.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,437 shares of the company’s stock valued at $84,000 after acquiring an additional 482 shares in the last quarter. Institutional investors own 86.07% of the company’s stock.

Shake Shack Trading Down 0.7%

Shares of Shake Shack stock opened at $64.69 on Tuesday. Shake Shack, Inc. has a 1 year low of $51.60 and a 1 year high of $107.46. The firm has a market cap of $2.77 billion, a PE ratio of 68.82, a P/E/G ratio of 7.11 and a beta of 1.68. The stock has a fifty day moving average price of $65.68 and a 200-day moving average price of $75.57. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.67 and a quick ratio of 1.64.

Shake Shack (NYSE:SHAK) last released its earnings results on Wednesday, August 5th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.12. The company had revenue of $417.62 million for the quarter, compared to analysts’ expectations of $417.18 million. Shake Shack had a return on equity of 9.29% and a net margin of 2.56%. The business’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.44 EPS. Equities research analysts anticipate that Shake Shack, Inc. will post 1.13 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SHAK shares. Seaport Research Partners started coverage on shares of Shake Shack in a report on Wednesday, September 16th. They set a “neutral” rating on the stock. JPMorgan Chase & Co. lowered their target price on shares of Shake Shack from $77.00 to $75.00 and set a “neutral” rating for the company in a report on Tuesday, September 29th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Shake Shack from $105.00 to $93.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Morgan Stanley boosted their price target on shares of Shake Shack from $74.00 to $79.00 and gave the stock an “equal weight” rating in a report on Thursday, October 15th. Finally, TD Cowen reaffirmed a “hold” rating on shares of Shake Shack in a research report on Wednesday, August 5th. Sixteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $87.43.

Shake Shack Profile

Shake Shack Inc operates a fast-casual restaurant chain known for made-to-order burgers, chicken sandwiches, hot dogs, crinkle-cut fries, frozen custard, milkshakes and beverages. Its menu also includes vegetarian and other specialty items, with offerings varying by location. The company emphasizes hospitality, quality ingredients and restaurant designs intended to support both dine-in and takeout service.

The business began as a temporary hot dog cart in Madison Square Park in New York City in 2001 and opened its first permanent restaurant there in 2004.