Daniel Harris Meyer Sells 15,000 Shares of Shake Shack, Inc. (SHAK) Stock
Shake Shack, Inc. (NYSE:SHAK) Director Daniel Harris Meyer sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $37.11, for a total value of $556,650.00. Following the transaction, the director now directly owns 642 shares in the company, valued at approximately $23,824.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Daniel Harris Meyer also recently made the following trade(s):
- On Friday, November 3rd, Daniel Harris Meyer sold 35,000 shares of Shake Shack stock. The shares were sold at an average price of $36.15, for a total value of $1,265,250.00.
- On Monday, November 6th, Daniel Harris Meyer sold 45,000 shares of Shake Shack stock. The shares were sold at an average price of $36.27, for a total value of $1,632,150.00.
Shares of Shake Shack, Inc. (NYSE:SHAK) opened at $38.00 on Wednesday. Shake Shack, Inc. has a 1-year low of $30.12 and a 1-year high of $39.70. The firm has a market capitalization of $1,387.62, a price-to-earnings ratio of 67.46, a price-to-earnings-growth ratio of 3.27 and a beta of 1.39.
Shake Shack (NYSE:SHAK) last issued its earnings results on Wednesday, November 1st. The company reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.02. Shake Shack had a return on equity of 9.42% and a net margin of 4.78%. The business had revenue of $94.60 million during the quarter, compared to analysts’ expectations of $94.17 million. During the same period in the prior year, the business earned $0.15 EPS. The business’s revenue for the quarter was up 26.8% compared to the same quarter last year. analysts expect that Shake Shack, Inc. will post 0.52 EPS for the current year.
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Several hedge funds have recently modified their holdings of SHAK. Fred Alger Management Inc. lifted its holdings in shares of Shake Shack by 163.8% in the 2nd quarter. Fred Alger Management Inc. now owns 592,963 shares of the company’s stock worth $20,683,000 after buying an additional 368,185 shares during the period. Lord Abbett & CO. LLC lifted its holdings in shares of Shake Shack by 101.3% in the 2nd quarter. Lord Abbett & CO. LLC now owns 706,704 shares of the company’s stock worth $24,650,000 after buying an additional 355,674 shares during the period. UBS Asset Management Americas Inc. purchased a new stake in shares of Shake Shack in the 2nd quarter worth $8,681,000. Balyasny Asset Management LLC lifted its holdings in shares of Shake Shack by 77.7% in the 2nd quarter. Balyasny Asset Management LLC now owns 539,181 shares of the company’s stock worth $18,807,000 after buying an additional 235,681 shares during the period. Finally, UBS Oconnor LLC purchased a new stake in shares of Shake Shack in the 2nd quarter worth $5,525,000. Institutional investors and hedge funds own 81.87% of the company’s stock.
SHAK has been the topic of several analyst reports. Zacks Investment Research downgraded Shake Shack from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. SunTrust Banks, Inc. reissued a “buy” rating and set a $48.00 target price on shares of Shake Shack in a research report on Thursday, October 12th. BidaskClub upgraded Shake Shack from a “hold” rating to a “buy” rating in a report on Thursday, October 26th. Wedbush restated an “outperform” rating and set a $40.00 price objective (down previously from $43.00) on shares of Shake Shack in a report on Sunday, July 30th. Finally, Barclays PLC dropped their price objective on Shake Shack from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Friday, August 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $37.33.
Shake Shack Company Profile
Shake Shack Inc operates roadside burger stands. The Company serves an American menu of burgers, hot dogs, crispy chicken, frozen custard, crinkle cut fries, shakes, beer and wine, among others. The Company’s signature items are its all-natural, hormone and antibiotic-free burgers, hot dogs, crispy chicken, crinkle cut fries, shakes and frozen custard.
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