Gamco Investors INC. ET AL Sells 1,280 Shares of Shake Shack Inc. (NYSE:SHAK)

Gamco Investors INC. ET AL reduced its position in Shake Shack Inc. (NYSE:SHAK) by 10.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,779 shares of the company’s stock after selling 1,280 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Shake Shack were worth $1,121,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of SHAK. Linonia Partnership LP bought a new position in shares of Shake Shack in the fourth quarter worth approximately $41,046,000. Norges Bank purchased a new position in shares of Shake Shack in the fourth quarter worth $12,238,000. Jennison Associates LLC purchased a new position in shares of Shake Shack in the first quarter worth $16,365,000. Armistice Capital LLC purchased a new position in shares of Shake Shack in the fourth quarter worth $11,213,000. Finally, Kettle Hill Capital Management LLC purchased a new position in shares of Shake Shack in the fourth quarter worth $6,745,000. 86.07% of the stock is currently owned by institutional investors.

Shake Shack Trading Up 1.6 %

Shares of SHAK traded up $1.27 during midday trading on Friday, hitting $80.11. The stock had a trading volume of 826,610 shares, compared to its average volume of 944,187. Shake Shack Inc. has a 1 year low of $52.79 and a 1 year high of $111.29. The firm has a market cap of $3.39 billion, a PE ratio of 145.66, a price-to-earnings-growth ratio of 2.14 and a beta of 1.75. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.03 and a quick ratio of 1.99. The stock’s 50 day moving average is $89.52 and its 200 day moving average is $92.21.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. The firm had revenue of $290.50 million for the quarter, compared to analysts’ expectations of $291.00 million. Shake Shack had a net margin of 2.08% and a return on equity of 4.86%. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.01) earnings per share. As a group, analysts forecast that Shake Shack Inc. will post 0.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SHAK shares. Wedbush lowered their target price on shares of Shake Shack from $110.00 to $90.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Truist Financial boosted their target price on shares of Shake Shack from $124.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, July 1st. The Goldman Sachs Group began coverage on shares of Shake Shack in a report on Thursday, June 13th. They issued a “buy” rating and a $110.00 target price on the stock. Morgan Stanley decreased their price target on shares of Shake Shack from $108.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Finally, JPMorgan Chase & Co. upped their price target on shares of Shake Shack from $102.00 to $105.00 and gave the company an “underweight” rating in a research note on Monday, June 3rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $99.50.

Shake Shack Company 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.