Marshall Wace LLP Sells 365,270 Shares of Shake Shack Inc. (NYSE:SHAK)

Marshall Wace LLP lessened its stake in Shake Shack Inc. (NYSE:SHAK) by 71.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 147,204 shares of the company’s stock after selling 365,270 shares during the quarter. Marshall Wace LLP owned approximately 0.35% of Shake Shack worth $19,107,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Wasatch Advisors LP raised its position in Shake Shack by 1.8% in the 4th quarter. Wasatch Advisors LP now owns 566,425 shares of the company’s stock valued at $73,522,000 after buying an additional 10,147 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Shake Shack by 1,136.5% in the fourth quarter. NewEdge Advisors LLC now owns 2,065 shares of the company’s stock valued at $268,000 after purchasing an additional 1,898 shares during the last quarter. Montag & Caldwell LLC bought a new position in shares of Shake Shack during the fourth quarter valued at about $68,000. Summit Investment Advisors Inc. boosted its holdings in Shake Shack by 5.5% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,978 shares of the company’s stock worth $516,000 after purchasing an additional 209 shares during the last quarter. Finally, Neuberger Berman Group LLC grew its position in Shake Shack by 9.4% in the 4th quarter. Neuberger Berman Group LLC now owns 157,667 shares of the company’s stock worth $20,465,000 after purchasing an additional 13,575 shares in the last quarter. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Wedbush boosted their target price 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 upped their price objective on Shake Shack from $143.00 to $154.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Barclays upgraded Shake Shack from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $125.00 to $159.00 in a research note on Tuesday, January 7th. Gordon Haskett upgraded shares of Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 price target for the company in a research report on Wednesday, January 8th. Finally, Stifel Nicolaus lowered their price objective on shares of Shake Shack from $120.00 to $97.00 and set a “hold” rating on the stock in a research report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $122.19.

Shake Shack Stock Up 3.9 %

SHAK stock opened at $83.57 on Friday. The stock has a 50-day simple moving average of $93.95 and a two-hundred day simple moving average of $112.70. Shake Shack Inc. has a twelve month low of $72.93 and a twelve month high of $139.89. The firm has a market capitalization of $3.55 billion, a PE ratio of 363.35 and a beta of 1.80. The company has a quick ratio of 1.98, a current ratio of 1.97 and a debt-to-equity ratio of 0.50.

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