Allspring Global Investments Holdings LLC raised its position in shares of Shake Shack Inc. (NYSE:SHAK – Free Report) by 217.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 796 shares of the company’s stock after purchasing an additional 545 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Shake Shack were worth $62,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its stake in shares of Shake Shack by 67.9% during the 1st quarter. Tower Research Capital LLC TRC now owns 989 shares of the company’s stock worth $55,000 after purchasing an additional 400 shares in the last quarter. Natixis bought a new position in shares of Shake Shack in the 4th quarter valued at approximately $53,000. Byrne Asset Management LLC raised its stake in shares of Shake Shack by 33.5% in the 2nd quarter. Byrne Asset Management LLC now owns 2,130 shares of the company’s stock valued at $166,000 after acquiring an additional 535 shares in the last quarter. Dark Forest Capital Management LP bought a new position in shares of Shake Shack in the 1st quarter valued at approximately $150,000. Finally, Wiley BROS. Aintree Capital LLC bought a new position in shares of Shake Shack in the 2nd quarter valued at approximately $233,000. 91.70% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of brokerages recently weighed in on SHAK. StockNews.com downgraded Shake Shack from a “hold” rating to a “sell” rating in a research note on Friday, October 13th. Bank of America began coverage on Shake Shack in a research note on Thursday, October 5th. They issued a “neutral” rating and a $66.00 price objective on the stock. Morgan Stanley cut their price objective on Shake Shack from $70.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 11th. Truist Financial raised their price objective on Shake Shack from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Finally, Robert W. Baird raised their target price on Shake Shack from $74.00 to $78.00 and gave the company a “neutral” rating in a report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $71.65.
Shake Shack Price Performance
Shares of NYSE:SHAK opened at $60.90 on Friday. Shake Shack Inc. has a 1-year low of $40.83 and a 1-year high of $80.58. The firm has a market capitalization of $2.58 billion, a PE ratio of 1,522.50 and a beta of 1.73. The business’s 50 day moving average is $57.67 and its 200-day moving average is $66.85. The company has a current ratio of 2.12, a quick ratio of 2.09 and a debt-to-equity ratio of 0.56.
Insider Activity at Shake Shack
In other Shake Shack news, Director Jeffrey Flug sold 1,987 shares of the stock in a transaction on Monday, August 21st. The stock was sold at an average price of $69.86, for a total transaction of $138,811.82. Following the completion of the transaction, the director now directly owns 6,511 shares in the company, valued at $454,858.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.06% of the stock is owned by insiders.
Shake Shack Profile
Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, chicken, hot dogs, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. The company was founded in 2001 and is headquartered in New York, New York.
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