Daniel Harris Meyer Sells 10,000 Shares of Shake Shack Inc. (NYSE:SHAK) Stock

Shake Shack Inc. (NYSE:SHAK) Director Daniel Harris Meyer sold 10,000 shares of Shake Shack stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $130.26, for a total value of $1,302,600.00. Following the completion of the sale, the director now directly owns 386,636 shares of the company’s stock, valued at $50,363,205.36. The trade was a 2.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Daniel Harris Meyer also recently made the following trade(s):

• On Friday, May 30th, Daniel Harris Meyer sold 10,000 shares of Shake Shack stock. The stock was sold at an average price of $130.10, for a total value of $1,301,000.00.
• On Friday, May 30th, Daniel Harris Meyer sold 10,000 shares of Shake Shack stock. The stock was sold at an average price of $130.10, for a total value of $1,301,000.00.

Shake Shack Stock Up 0.6%

Shake Shack stock opened at $125.24 on Wednesday. The stock has a 50-day simple moving average of $102.67 and a 200-day simple moving average of $110.92. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.98 and a current ratio of 1.97. The company has a market capitalization of $5.34 billion, a P/E ratio of 544.53 and a beta of 1.77. Shake Shack Inc. has a fifty-two week low of $72.93 and a fifty-two week high of $139.89.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.02). The company had revenue of $320.90 million for the quarter, compared to analysts’ expectations of $330.24 million. Shake Shack had a net margin of 0.81% and a return on equity of 8.40%. The firm’s revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.13 earnings per share. Equities research analysts expect that Shake Shack Inc. will post 1.26 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on the company. KeyCorp began coverage on Shake Shack in a research note on Monday, June 2nd. They set a “sector weight” rating for the company. Wells Fargo & Company upped their price objective on Shake Shack from $95.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Friday, May 30th. BTIG Research cut Shake Shack from a “buy” rating to a “neutral” rating in a research report on Monday, June 2nd. Barclays lowered their price objective on Shake Shack from $155.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Finally, Loop Capital raised Shake Shack from a “hold” rating to a “buy” rating and set a $127.00 price objective for the company in a research report on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $115.40.

Institutional Trading of Shake Shack

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nemes Rush Group LLC acquired a new position in Shake Shack during the 4th quarter worth approximately $29,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Shake Shack in the 4th quarter worth approximately $32,000. Farther Finance Advisors LLC grew its holdings in shares of Shake Shack by 939.3% in the 1st quarter. Farther Finance Advisors LLC now owns 291 shares of the company’s stock worth $26,000 after acquiring an additional 263 shares during the period. Geneos Wealth Management Inc. acquired a new stake in shares of Shake Shack in the 1st quarter worth approximately $26,000. Finally, Transcendent Capital Group LLC acquired a new stake in shares of Shake Shack in the 4th quarter worth approximately $52,000. 86.07% of the stock is owned by hedge funds and other institutional investors.

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.