Shake Shack Inc (SHAK) Director Jonathan D. Sokoloff Sells 64,072 Shares
Shake Shack Inc (NYSE:SHAK) Director Jonathan D. Sokoloff sold 64,072 shares of Shake Shack stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $52.19, for a total value of $3,343,917.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Jonathan D. Sokoloff also recently made the following trade(s):
- On Wednesday, September 12th, Jonathan D. Sokoloff sold 500,000 shares of Shake Shack stock. The shares were sold at an average price of $57.15, for a total value of $28,575,000.00.
NYSE SHAK opened at $47.93 on Friday. Shake Shack Inc has a 12 month low of $36.58 and a 12 month high of $70.12. The company has a market capitalization of $1.85 billion, a P/E ratio of 84.09, a price-to-earnings-growth ratio of 3.23 and a beta of 1.37.
A number of research firms have recently weighed in on SHAK. Zacks Investment Research cut Shake Shack from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 4th. ValuEngine cut Shake Shack from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 2nd. Longbow Research raised Shake Shack from a “neutral” rating to a “buy” rating and set a $60.00 price objective on the stock in a research report on Tuesday, November 6th. Wedbush lowered their price objective on Shake Shack from $62.00 to $56.00 and set a “neutral” rating on the stock in a research report on Friday, November 2nd. Finally, SunTrust Banks lowered their price objective on Shake Shack to $60.00 and set a “buy” rating on the stock in a research report on Friday, November 2nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $54.50.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its holdings in Shake Shack by 15.2% in the 2nd quarter. BlackRock Inc. now owns 2,914,696 shares of the company’s stock worth $192,895,000 after purchasing an additional 384,867 shares in the last quarter. CIBC World Markets Inc. purchased a new stake in shares of Shake Shack during the 2nd quarter worth approximately $1,048,000. State of Alaska Department of Revenue raised its holdings in shares of Shake Shack by 31.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 8,324 shares of the company’s stock worth $524,000 after acquiring an additional 1,994 shares in the last quarter. Rehmann Capital Advisory Group purchased a new stake in shares of Shake Shack during the 2nd quarter worth approximately $124,000. Finally, New York State Teachers Retirement System raised its holdings in shares of Shake Shack by 148.4% during the 2nd quarter. New York State Teachers Retirement System now owns 17,436 shares of the company’s stock worth $1,154,000 after acquiring an additional 10,418 shares in the last quarter. 82.35% of the stock is currently owned by institutional investors.
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About Shake Shack
Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, hot dogs, chicken, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. As of October 9, 2018, it operated 180 locations in 26 U.S.
Further Reading: Outstanding Shares and The Effect on Share Price
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