Sylebra HK Co Ltd Cuts Position in Shake Shack Inc (SHAK)

Sylebra HK Co Ltd reduced its stake in Shake Shack Inc (NYSE:SHAK) by 21.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 784,271 shares of the company’s stock after selling 217,578 shares during the quarter. Shake Shack accounts for 2.7% of Sylebra HK Co Ltd’s portfolio, making the stock its 11th largest position. Sylebra HK Co Ltd owned approximately 2.13% of Shake Shack worth $32,649,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Elkfork Partners LLC acquired a new stake in Shake Shack in the 4th quarter valued at $123,000. Trexquant Investment LP acquired a new stake in Shake Shack in the 1st quarter valued at $217,000. Sciencast Management LP acquired a new stake in Shake Shack in the 4th quarter valued at $227,000. Millennium Management LLC acquired a new stake in Shake Shack in the 4th quarter valued at $228,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in Shake Shack in the 4th quarter valued at $236,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Shares of SHAK stock traded up $1.39 during midday trading on Thursday, hitting $65.04. 5,388 shares of the company were exchanged, compared to its average volume of 943,912. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of 112.96, a PEG ratio of 5.16 and a beta of 1.36. Shake Shack Inc has a 52 week low of $30.12 and a 52 week high of $65.47.

Shake Shack (NYSE:SHAK) last announced its earnings results on Thursday, May 3rd. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.08 by $0.07. The business had revenue of $99.20 million during the quarter, compared to the consensus estimate of $96.77 million. Shake Shack had a negative net margin of 0.27% and a positive return on equity of 9.17%. Shake Shack’s revenue was up 29.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.10 EPS. equities research analysts anticipate that Shake Shack Inc will post 0.54 earnings per share for the current fiscal year.

Several equities research analysts have issued reports on the stock. Longbow Research lowered shares of Shake Shack from a “buy” rating to a “neutral” rating and set a $57.96 price target on the stock. in a research note on Wednesday, May 23rd. They noted that the move was a valuation call. JPMorgan Chase & Co. lowered shares of Shake Shack from a “neutral” rating to an “underweight” rating and set a $49.00 price objective on the stock. in a research note on Monday, May 7th. William Blair restated a “buy” rating on shares of Shake Shack in a research note on Friday, May 4th. ValuEngine upgraded shares of Shake Shack from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 4th. Finally, Morgan Stanley boosted their price objective on shares of Shake Shack from $44.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Friday, May 4th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and three have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $47.03.

In other Shake Shack news, Director Jonathan D. Sokoloff sold 627,440 shares of the business’s stock in a transaction dated Friday, May 11th. The shares were sold at an average price of $58.81, for a total value of $36,899,746.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Equity Group L.P. Select sold 130,606 shares of the business’s stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $62.88, for a total transaction of $8,212,505.28. The disclosure for this sale can be found here. Insiders sold a total of 1,086,046 shares of company stock valued at $63,773,302 in the last three months. Insiders own 30.18% of the company’s stock.

About Shake Shack

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, hot dogs, chicken, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. As of December 27, 2017, it had 159 Shacks, including 90 domestic company-operated Shacks, 10 domestic licensed Shacks, and 59 international licensed Shacks.

Institutional Ownership by Quarter for Shake Shack (NYSE:SHAK)

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