Gilder Gagnon Howe & Co. LLC Sells 691,598 Shares of Shake Shack, Inc. (SHAK)
Gilder Gagnon Howe & Co. LLC trimmed its holdings in shares of Shake Shack, Inc. (NYSE:SHAK) by 29.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,627,284 shares of the company’s stock after selling 691,598 shares during the quarter. Gilder Gagnon Howe & Co. LLC owned 4.43% of Shake Shack worth $54,075,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of SHAK. Prudential Financial Inc. acquired a new stake in shares of Shake Shack during the 1st quarter worth about $1,087,000. American International Group Inc. increased its position in shares of Shake Shack by 7.1% during the 1st quarter. American International Group Inc. now owns 9,667 shares of the company’s stock worth $323,000 after purchasing an additional 637 shares during the last quarter. OppenheimerFunds Inc. acquired a new stake in shares of Shake Shack during the 1st quarter worth about $384,000. Principal Financial Group Inc. acquired a new stake in shares of Shake Shack during the 1st quarter worth about $4,555,000. Finally, Teachers Advisors LLC increased its position in shares of Shake Shack by 2.6% during the 1st quarter. Teachers Advisors LLC now owns 26,671 shares of the company’s stock worth $891,000 after purchasing an additional 688 shares during the last quarter. 81.87% of the stock is owned by hedge funds and other institutional investors.
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In other Shake Shack news, Director Daniel Harris Meyer sold 35,000 shares of Shake Shack stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $36.15, for a total transaction of $1,265,250.00. Following the transaction, the director now owns 642 shares of the company’s stock, valued at $23,208.30. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Randall J. Garutti sold 8,000 shares of Shake Shack stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $31.12, for a total value of $248,960.00. Following the transaction, the chief executive officer now directly owns 18,961 shares in the company, valued at approximately $590,066.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 246,630 shares of company stock valued at $8,408,412. 34.91% of the stock is owned by company insiders.
Shake Shack, Inc. (NYSE SHAK) traded up $1.00 during mid-day trading on Monday, reaching $38.35. The company had a trading volume of 737,200 shares, compared to its average volume of 720,689. The stock has a market capitalization of $1,408.56, a PE ratio of 68.48, a price-to-earnings-growth ratio of 3.32 and a beta of 1.39. Shake Shack, Inc. has a 12-month low of $30.12 and a 12-month high of $39.70.
Shake Shack (NYSE:SHAK) last posted its earnings results on Wednesday, November 1st. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.02. The firm had revenue of $94.60 million during the quarter, compared to analysts’ expectations of $94.17 million. Shake Shack had a return on equity of 9.42% and a net margin of 4.78%. The firm’s revenue was up 26.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.15 earnings per share. equities analysts anticipate that Shake Shack, Inc. will post 0.52 EPS for the current fiscal year.
A number of analysts recently issued reports on SHAK shares. SunTrust Banks, Inc. reissued a “buy” rating and set a $48.00 price objective on shares of Shake Shack in a research report on Thursday, October 12th. Wedbush reissued a “buy” rating on shares of Shake Shack in a research report on Thursday, August 17th. BidaskClub raised Shake Shack from a “hold” rating to a “buy” rating in a research report on Thursday, October 26th. TheStreet upgraded Shake Shack from a “d” rating to a “c-” rating in a report on Thursday, August 3rd. Finally, Barclays PLC lowered their target price 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 investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $37.33.
Shake Shack 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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