Transcendent Capital Group LLC Invests $52,000 in Shake Shack Inc. (NYSE:SHAK)

Transcendent Capital Group LLC bought a new position in shares of Shake Shack Inc. (NYSE:SHAK) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 400 shares of the company’s stock, valued at approximately $52,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp grew its stake in Shake Shack by 3.5% in the 3rd quarter. State Street Corp now owns 1,452,736 shares of the company’s stock valued at $149,937,000 after purchasing an additional 49,324 shares during the period. Holocene Advisors LP boosted its position in shares of Shake Shack by 68.3% in the third quarter. Holocene Advisors LP now owns 946,350 shares of the company’s stock valued at $97,673,000 after acquiring an additional 384,131 shares during the period. Geode Capital Management LLC increased its holdings in shares of Shake Shack by 3.1% in the third quarter. Geode Capital Management LLC now owns 876,380 shares of the company’s stock worth $90,470,000 after purchasing an additional 26,620 shares during the period. Point72 Asset Management L.P. boosted its stake in Shake Shack by 154.8% during the third quarter. Point72 Asset Management L.P. now owns 650,685 shares of the company’s stock valued at $67,157,000 after buying an additional 395,311 shares during the period. Finally, Champlain Investment Partners LLC increased its stake in Shake Shack by 4.7% in the 3rd quarter. Champlain Investment Partners LLC now owns 614,747 shares of the company’s stock worth $63,448,000 after acquiring an additional 27,707 shares during the last quarter. 86.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SHAK has been the subject of a number of recent research reports. Barclays raised Shake Shack from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $125.00 to $159.00 in a research note on Tuesday, January 7th. Truist Financial increased their price target on shares of Shake Shack from $143.00 to $154.00 and gave the company a “buy” rating in a research report on Friday. Wedbush upped their price objective on shares of Shake Shack from $115.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday. Oppenheimer raised their target price on Shake Shack from $145.00 to $155.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. Finally, Stifel Nicolaus lowered 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. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $125.50.

Shake Shack Stock Up 6.3 %

SHAK opened at $115.55 on Tuesday. The firm’s 50 day simple moving average is $121.47 and its two-hundred day simple moving average is $116.62. The company has a market capitalization of $4.91 billion, a PE ratio of 502.38 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. The company has a current ratio of 1.97, a quick ratio of 1.98 and a debt-to-equity ratio of 0.50.

Shake Shack (NYSE:SHAK) last released its earnings results on Thursday, February 20th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.01. The company had revenue of $328.68 million for the quarter, compared to the consensus estimate 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 analysts forecast that Shake Shack Inc. will post 1.26 EPS for the current year.

Insider Buying and Selling at Shake Shack

In other news, CFO Katherine Irene Fogertey sold 642 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $137.51, for a total transaction of $88,281.42. Following the completion of the transaction, the chief financial officer now owns 30,717 shares in the company, valued at $4,223,894.67. This trade represents a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 9.73% of the company’s stock.

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.