OxFORD Asset Management LLP Invests $1.42 Million in Shake Shack, Inc. (SHAK)
OxFORD Asset Management LLP acquired a new stake in shares of Shake Shack, Inc. (NYSE:SHAK) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 43,473 shares of the company’s stock, valued at approximately $1,423,000. OxFORD Asset Management LLP owned about 0.12% of Shake Shack as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently modified their holdings of SHAK. Alps Advisors Inc. boosted its stake in Shake Shack by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 15,588 shares of the company’s stock valued at $544,000 after purchasing an additional 41 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in Shake Shack by 6.8% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 4,380 shares of the company’s stock valued at $153,000 after purchasing an additional 280 shares during the period. Dimensional Fund Advisors LP boosted its stake in Shake Shack by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 101,162 shares of the company’s stock valued at $3,529,000 after purchasing an additional 320 shares during the period. Arizona State Retirement System boosted its stake in Shake Shack by 4.3% during the 2nd quarter. Arizona State Retirement System now owns 9,700 shares of the company’s stock valued at $338,000 after purchasing an additional 400 shares during the period. Finally, Texas Permanent School Fund boosted its stake in Shake Shack by 4.2% during the 2nd quarter. Texas Permanent School Fund now owns 13,540 shares of the company’s stock valued at $472,000 after purchasing an additional 549 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.
In other news, COO Zach Koff sold 5,000 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $37.00, for a total value of $185,000.00. Following the completion of the transaction, the chief operating officer now directly owns 8,978 shares of the company’s stock, valued at approximately $332,186. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Equity Group L.P. Select sold 95,564 shares of the stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $45.43, for a total value of $4,341,472.52. The disclosure for this sale can be found here. Insiders sold a total of 795,461 shares of company stock valued at $31,933,449 in the last quarter. Corporate insiders own 34.91% of the company’s stock.
Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Wednesday, November 1st. The company reported $0.17 EPS for the quarter, topping the Zacks’ 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 company had revenue of $94.60 million during the quarter, compared to the consensus estimate of $94.17 million. During the same quarter last year, the company earned $0.15 EPS. The company’s quarterly revenue was up 26.8% on a year-over-year basis. equities analysts expect that Shake Shack, Inc. will post 0.52 earnings per share for the current year.
Several brokerages recently weighed in on SHAK. SunTrust Banks restated a “buy” rating on shares of Shake Shack in a research note on Monday, August 21st. Morgan Stanley upgraded Shake Shack from an “underweight” rating to an “equal weight” rating and decreased their target price for the company from $43.04 to $34.00 in a research note on Thursday, December 7th. Cowen reiterated a “hold” rating and issued a $35.00 price objective on shares of Shake Shack in a research report on Tuesday, September 12th. BidaskClub upgraded Shake Shack from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 23rd. Finally, Wedbush downgraded Shake Shack from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $40.00 to $36.00 in a research report on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $37.33.
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About Shake Shack
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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