CreativeOne Wealth LLC Decreases Stock Holdings in Shake Shack Inc. (NYSE:SHAK)

CreativeOne Wealth LLC reduced its position in shares of Shake Shack Inc. (NYSE:SHAK) by 9.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,260 shares of the company’s stock after selling 249 shares during the period. CreativeOne Wealth LLC’s holdings in Shake Shack were worth $233,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SHAK. Quest Partners LLC acquired a new position in shares of Shake Shack during the second quarter worth $38,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Shake Shack during the third quarter worth $41,000. Kimelman & Baird LLC acquired a new position in shares of Shake Shack during the second quarter worth $45,000. Covestor Ltd lifted its position in shares of Shake Shack by 41.6% during the third quarter. Covestor Ltd now owns 698 shares of the company’s stock worth $72,000 after purchasing an additional 205 shares in the last quarter. Finally, CWM LLC raised its holdings in Shake Shack by 24.7% in the second quarter. CWM LLC now owns 1,046 shares of the company’s stock valued at $94,000 after acquiring an additional 207 shares in the last quarter. 86.07% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Shake Shack

In related news, CFO Katherine Irene Fogertey sold 321 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $103.93, for a total value of $33,361.53. Following the completion of the transaction, the chief financial officer now owns 36,180 shares in the company, valued at $3,760,187.40. This represents a 0.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Daniel Harris Meyer sold 30,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $121.79, for a total transaction of $3,653,700.00. Following the completion of the transaction, the director now owns 407,646 shares of the company’s stock, valued at $49,647,206.34. This represents a 6.85 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 63,112 shares of company stock worth $7,623,215. Insiders own 9.73% of the company’s stock.

Shake Shack Stock Down 0.9 %

Shake Shack stock opened at $132.34 on Wednesday. The company has a 50-day simple moving average of $117.61 and a 200-day simple moving average of $102.82. The firm has a market capitalization of $5.62 billion, a P/E ratio of 778.47, a P/E/G ratio of 3.03 and a beta of 1.85. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.98 and a current ratio of 2.01. Shake Shack Inc. has a one year low of $60.84 and a one year high of $135.76.

Shake Shack (NYSE:SHAK) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.20 by $0.05. The business had revenue of $316.92 million during the quarter, compared to analyst estimates of $316.03 million. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The company’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.17 earnings per share. As a group, equities analysts expect that Shake Shack Inc. will post 0.82 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on SHAK shares. Barclays upped their price target on shares of Shake Shack from $115.00 to $125.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Bank of America upped their price target on shares of Shake Shack from $104.00 to $116.00 and gave the company a “neutral” rating in a report on Monday, August 19th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $102.00 price target (down from $105.00) on shares of Shake Shack in a report on Tuesday, September 24th. TD Cowen reaffirmed a “buy” rating and issued a $125.00 price target on shares of Shake Shack in a report on Wednesday, September 18th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $115.00 price target on shares of Shake Shack in a report on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $112.94.

About Shake Shack

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.