Credit Suisse AG Lowers Stake in Shake Shack Inc. (NYSE:SHAK)

Credit Suisse AG reduced its holdings in shares of Shake Shack Inc. (NYSE:SHAK – Get Rating) by 95.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 37,240 shares of the company’s stock after selling 845,686 shares during the period. Credit Suisse AG’s holdings in Shake Shack were worth $1,675,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of SHAK. Byrne Asset Management LLC purchased a new stake in shares of Shake Shack in the third quarter valued at about $35,000. CWM LLC boosted its holdings in shares of Shake Shack by 24.6% in the third quarter. CWM LLC now owns 1,012 shares of the company’s stock valued at $46,000 after acquiring an additional 200 shares in the last quarter. Kessler Investment Group LLC purchased a new stake in shares of Shake Shack in the third quarter valued at about $102,000. Truvestments Capital LLC boosted its holdings in Shake Shack by 15.7% during the second quarter. Truvestments Capital LLC now owns 4,347 shares of the company’s stock worth $172,000 after buying an additional 589 shares in the last quarter. Finally, Baird Financial Group Inc. boosted its holdings in Shake Shack by 6.6% during the first quarter. Baird Financial Group Inc. now owns 4,349 shares of the company’s stock worth $295,000 after buying an additional 271 shares in the last quarter. 83.55% of the stock is owned by hedge funds and other institutional investors.

Shake Shack Stock Performance

NYSE:SHAK opened at $58.02 on Wednesday. The firm has a 50 day simple moving average of $54.20 and a 200-day simple moving average of $50.63. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.33 and a quick ratio of 2.30. The firm has a market cap of $2.45 billion, a PE ratio of -95.11 and a beta of 1.67. Shake Shack Inc. has a 1-year low of $37.72 and a 1-year high of $71.86.

Shake Shack (NYSE:SHAK – Get Rating) last posted its quarterly earnings data on Thursday, February 16th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.05. The business had revenue of $238.53 million during the quarter, compared to analyst estimates of $238.54 million. Shake Shack had a negative net margin of 2.68% and a negative return on equity of 3.04%. The company’s revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.11) earnings per share. On average, equities analysts expect that Shake Shack Inc. will post -0.04 EPS for the current year.

Insider Activity at Shake Shack

In related news, COO Zach Koff sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $60.00, for a total value of $300,000.00. Following the completion of the sale, the chief operating officer now directly owns 31,085 shares in the company, valued at $1,865,100. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, COO Zach Koff sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $60.00, for a total value of $300,000.00. Following the completion of the sale, the chief operating officer now directly owns 31,085 shares in the company, valued at $1,865,100. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jeffrey Flug sold 1,864 shares of the business’s stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $60.07, for a total transaction of $111,970.48. Following the completion of the sale, the director now owns 6,983 shares of the company’s stock, valued at $419,468.81. The disclosure for this sale can be found here. 9.98% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Barclays boosted their price objective on shares of Shake Shack from $42.00 to $51.00 and gave the stock an “equal weight” rating in a report on Thursday, January 26th. StockNews.com raised shares of Shake Shack from a “sell” rating to a “hold” rating in a report on Friday, February 17th. Credit Suisse Group boosted their price objective on shares of Shake Shack from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Friday, February 17th. Morgan Stanley downgraded shares of Shake Shack from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $50.00 to $47.00 in a report on Tuesday, January 17th. Finally, BTIG Research lifted their target price on shares of Shake Shack from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, February 17th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $58.33.

About Shake Shack

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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.