HighTower Advisors LLC Has $673,000 Holdings in Shake Shack Inc. (NYSE:SHAK)

HighTower Advisors LLC boosted its stake in shares of Shake Shack Inc. (NYSE:SHAK) by 7.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,286 shares of the company’s stock after buying an additional 441 shares during the period. HighTower Advisors LLC’s holdings in Shake Shack were worth $673,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. BlackRock Inc. increased its holdings in shares of Shake Shack by 2.9% in the 1st quarter. BlackRock Inc. now owns 5,722,591 shares of the company’s stock valued at $645,335,000 after purchasing an additional 159,417 shares during the period. Fred Alger Management LLC increased its holdings in shares of Shake Shack by 38.0% in the 1st quarter. Fred Alger Management LLC now owns 3,842,465 shares of the company’s stock valued at $433,315,000 after purchasing an additional 1,058,958 shares during the period. Lord Abbett & CO. LLC increased its holdings in shares of Shake Shack by 39.4% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,903,100 shares of the company’s stock valued at $214,613,000 after purchasing an additional 537,835 shares during the period. Geode Capital Management LLC increased its holdings in shares of Shake Shack by 9.1% in the 1st quarter. Geode Capital Management LLC now owns 605,191 shares of the company’s stock valued at $68,247,000 after purchasing an additional 50,437 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in shares of Shake Shack by 70.7% in the 1st quarter. Principal Financial Group Inc. now owns 433,726 shares of the company’s stock valued at $48,911,000 after purchasing an additional 179,621 shares during the period. Hedge funds and other institutional investors own 83.21% of the company’s stock.

SHAK opened at $81.86 on Wednesday. The business has a 50 day moving average of $90.00 and a 200-day moving average of $99.49. The company has a current ratio of 3.52, a quick ratio of 3.49 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of -138.74 and a beta of 1.69. Shake Shack Inc. has a 1-year low of $63.49 and a 1-year high of $138.38.

Shake Shack (NYSE:SHAK) last issued its earnings results on Thursday, August 5th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. The business had revenue of $187.46 million during the quarter, compared to analyst estimates of $181.62 million. Shake Shack had a negative return on equity of 0.36% and a negative net margin of 3.45%. Equities analysts predict that Shake Shack Inc. will post -0.07 EPS for the current year.

In related news, Director Jenna Lyons sold 1,022 shares of the company’s stock in a transaction on Wednesday, July 14th. The stock was sold at an average price of $103.06, for a total value of $105,327.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 10.00% of the company’s stock.

A number of brokerages have recently weighed in on SHAK. Cowen dropped their target price on Shake Shack from $93.00 to $86.00 and set a “market perform” rating on the stock in a report on Friday, August 6th. Oppenheimer lowered their price target on Shake Shack from $124.00 to $115.00 and set an “outperform” rating for the company in a research note on Friday, August 6th. Barclays lowered their price target on Shake Shack from $92.00 to $85.00 and set an “equal weight” rating for the company in a research note on Friday, August 6th. Wedbush raised Shake Shack from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $114.00 to $118.00 in a research note on Tuesday, May 25th. Finally, The Goldman Sachs Group raised Shake Shack from a “neutral” rating to a “buy” rating and boosted their price target for the company from $107.00 to $109.00 in a research note on Tuesday, May 25th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $99.56.

About Shake Shack

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.

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Institutional Ownership by Quarter for Shake Shack (NYSE:SHAK)

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