Tower Research Capital LLC TRC Buys 261 Shares of Shake Shack Inc. (NYSE:SHAK)

Tower Research Capital LLC TRC increased its stake in Shake Shack Inc. (NYSE:SHAK – Get Rating) by 5.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,660 shares of the company’s stock after purchasing an additional 261 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Shake Shack were worth $210,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Bank of Montreal Can raised its holdings in shares of Shake Shack by 850.0% in the 3rd quarter. Bank of Montreal Can now owns 54,341 shares of the company’s stock worth $2,643,000 after purchasing an additional 48,621 shares during the period. Jupiter Asset Management Ltd. bought a new stake in shares of Shake Shack in the 3rd quarter worth approximately $3,220,000. California Public Employees Retirement System raised its holdings in shares of Shake Shack by 34.8% in the 3rd quarter. California Public Employees Retirement System now owns 84,911 shares of the company’s stock worth $3,819,000 after purchasing an additional 21,914 shares during the period. Fisher Asset Management LLC bought a new stake in shares of Shake Shack in the 3rd quarter worth approximately $1,759,000. Finally, Mutual of America Capital Management LLC raised its holdings in shares of Shake Shack by 12.7% in the 3rd quarter. Mutual of America Capital Management LLC now owns 7,423 shares of the company’s stock worth $334,000 after purchasing an additional 835 shares during the period. Institutional investors own 83.55% of the company’s stock.

Shake Shack Stock Up 1.3 %

Shares of NYSE:SHAK opened at $58.00 on Monday. Shake Shack Inc. has a 52-week low of $37.72 and a 52-week high of $72.00. The firm has a fifty day moving average of $53.65 and a 200 day moving average of $50.53. The firm has a market capitalization of $2.44 billion, a PE ratio of -95.08 and a beta of 1.67. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.30 and a current ratio of 2.33.

Shake Shack (NYSE:SHAK – Get Rating) last announced its earnings results on Thursday, February 16th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.05. Shake Shack had a negative net margin of 2.68% and a negative return on equity of 3.04%. The company had revenue of $238.53 million during the quarter, compared to analyst estimates of $238.54 million. During the same period in the previous year, the business earned ($0.11) earnings per share. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. As a group, research analysts anticipate that Shake Shack Inc. will post -0.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SHAK shares. Truist Financial lifted their price target on shares of Shake Shack from $63.00 to $67.00 in a report on Friday, February 17th. BTIG Research boosted their target price on shares of Shake Shack from $60.00 to $65.00 and gave the company a “buy” rating in a report on Friday, February 17th. Morgan Stanley cut shares of Shake Shack from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $50.00 to $47.00 in a report on Tuesday, January 17th. Cowen boosted their target price on shares of Shake Shack from $53.00 to $58.00 and gave the company a “market perform” rating in a report on Friday, February 17th. Finally, StockNews.com raised shares of Shake Shack from a “sell” rating to a “hold” rating in a report on Friday, February 17th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Shake Shack currently has an average rating of “Hold” and an average target price of $58.33.

Insider Buying and Selling

In related news, COO Zach Koff sold 5,000 shares of the company’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $60.00, for a total value of $300,000.00. Following the completion of the transaction, the chief operating officer now directly owns 31,085 shares in the company, valued at $1,865,100. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Shake Shack news, Director Jeffrey Flug sold 1,864 shares of the business’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $60.07, for a total value of $111,970.48. Following the completion of the sale, the director now directly owns 6,983 shares of the company’s stock, valued at $419,468.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Zach Koff sold 5,000 shares of the business’s stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $60.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief operating officer now directly owns 31,085 shares of the company’s stock, valued at $1,865,100. The disclosure for this sale can be found here. 9.98% of the stock is owned by company insiders.

Shake Shack Company Profile

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Shake Shack, Inc operates as a holding company. The firm engages in operating fast food hamburger restaurants. It offers beef burgers, flat-top dogs, chicken sandwiches, frozen custard and crinkle cut fries and includes all the mobile ordering essentials. The company was founded by Daniel Harris Meyer on September 23, 2014 and is headquartered in New York, NY.