Ieq Capital LLC Purchases Shares of 3,417 Shake Shack Inc. (NYSE:SHAK)

Ieq Capital LLC purchased a new stake in Shake Shack Inc. (NYSE:SHAK) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 3,417 shares of the company’s stock, valued at approximately $444,000.

Several other institutional investors have also recently modified their holdings of SHAK. Creative Planning raised its stake in shares of Shake Shack by 64.2% in the third quarter. Creative Planning now owns 9,763 shares of the company’s stock worth $1,008,000 after purchasing an additional 3,817 shares during the last quarter. Private Advisor Group LLC purchased a new position in shares of Shake Shack in the third quarter worth about $279,000. Louisiana State Employees Retirement System raised its stake in shares of Shake Shack by 2.1% in the third quarter. Louisiana State Employees Retirement System now owns 19,300 shares of the company’s stock worth $1,992,000 after purchasing an additional 400 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of Shake Shack by 3.2% in the third quarter. State of Alaska Department of Revenue now owns 22,816 shares of the company’s stock worth $2,354,000 after purchasing an additional 708 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of Shake Shack by 35.8% in the third quarter. Nisa Investment Advisors LLC now owns 3,110 shares of the company’s stock worth $321,000 after purchasing an additional 820 shares during the last quarter. 86.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Shake Shack

In related news, CFO Katherine Irene Fogertey sold 642 shares of Shake Shack stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $137.51, for a total transaction of $88,281.42. Following the transaction, the chief financial officer now owns 30,717 shares in the company, valued at approximately $4,223,894.67. This trade represents a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 9.73% of the company’s stock.

Wall Street Analysts Forecast Growth

SHAK has been the subject of several research analyst reports. Wedbush raised their price objective on Shake Shack from $115.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, February 21st. Truist Financial lifted their price target on Shake Shack from $143.00 to $154.00 and gave the company a “buy” rating in a research report on Friday, February 21st. UBS Group lifted their price target on Shake Shack from $130.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Stifel Nicolaus reduced their price target on Shake Shack from $128.00 to $110.00 and set a “hold” rating for the company in a research report on Friday, January 17th. Finally, Barclays upgraded Shake Shack from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $125.00 to $159.00 in a research report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Shake Shack presently has an average rating of “Hold” and a consensus price target of $125.50.

Shake Shack Stock Performance

Shares of NYSE:SHAK opened at $110.04 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.97 and a quick ratio of 1.98. The business’s 50 day moving average price is $120.78 and its 200-day moving average price is $116.64. The firm has a market capitalization of $4.67 billion, a PE ratio of 478.41 and a beta of 1.86. Shake Shack Inc. has a 1 year low of $77.50 and a 1 year high of $139.89.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.01. The firm had revenue of $328.68 million for the quarter, compared to analyst estimates of $329.02 million. Shake Shack had a return on equity of 8.40% and a net margin of 0.81%. As a group, equities research analysts expect that Shake Shack Inc. will post 1.26 earnings per share for the current fiscal year.

About Shake Shack

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.