Maverick Capital Ltd. Takes $5.95 Million Position in Shake Shack Inc. (NYSE:SHAK)

Maverick Capital Ltd. acquired a new stake in Shake Shack Inc. (NYSE:SHAK) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 57,673 shares of the company’s stock, valued at approximately $5,952,000.

Other large investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in shares of Shake Shack by 9.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 801,003 shares of the company’s stock worth $72,088,000 after purchasing an additional 66,090 shares during the last quarter. Champlain Investment Partners LLC increased its stake in shares of Shake Shack by 4.7% during the 3rd quarter. Champlain Investment Partners LLC now owns 614,747 shares of the company’s stock worth $63,448,000 after purchasing an additional 27,707 shares during the last quarter. Armistice Capital LLC increased its stake in shares of Shake Shack by 69.1% during the 2nd quarter. Armistice Capital LLC now owns 579,904 shares of the company’s stock worth $52,191,000 after purchasing an additional 236,950 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Shake Shack by 101.2% during the 2nd quarter. Marshall Wace LLP now owns 544,336 shares of the company’s stock worth $48,990,000 after purchasing an additional 273,822 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Shake Shack by 41.9% during the 2nd quarter. Renaissance Technologies LLC now owns 437,600 shares of the company’s stock worth $39,384,000 after buying an additional 129,200 shares during the period. Institutional investors and hedge funds own 86.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Oppenheimer upped their price objective on shares of Shake Shack from $122.00 to $135.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. Bank of America upped their price objective on shares of Shake Shack from $104.00 to $116.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. TD Cowen reaffirmed a “buy” rating and set a $125.00 price objective on shares of Shake Shack in a report on Wednesday, September 18th. Truist Financial upped their price objective on shares of Shake Shack from $127.00 to $144.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Barclays increased their price target on shares of Shake Shack from $115.00 to $125.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Shake Shack has a consensus rating of “Hold” and an average price target of $112.94.

Insider Buying and Selling at Shake Shack

In other news, Director Daniel Harris Meyer sold 22,691 shares of Shake Shack stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $124.47, for a total value of $2,824,348.77. Following the sale, the director now directly owns 437,646 shares in the company, valued at $54,473,797.62. This trade represents a 4.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Katherine Irene Fogertey sold 321 shares of Shake Shack stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $98.57, for a total transaction of $31,640.97. Following the completion of the sale, the chief financial officer now owns 36,822 shares in the company, valued at $3,629,544.54. This trade represents a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,433 shares of company stock valued at $7,654,856. 9.73% of the stock is currently owned by corporate insiders.

Shake Shack Stock Up 0.9 %

Shake Shack stock opened at $133.55 on Friday. The company’s 50 day simple moving average is $116.51 and its 200 day simple moving average is $102.36. Shake Shack Inc. has a fifty-two week low of $59.94 and a fifty-two week high of $134.90. The firm has a market capitalization of $5.67 billion, a price-to-earnings ratio of 785.59, a PEG ratio of 3.01 and a beta of 1.81. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.01 and a quick ratio of 1.98.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The firm had revenue of $316.92 million for the quarter, compared to analyst estimates of $316.03 million. During the same quarter in the previous year, the firm posted $0.17 earnings per share. The business’s revenue was up 14.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Shake Shack Inc. will post 0.82 EPS for the current year.

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.