Man Group plc Sells 8,289 Shares of Shake Shack Inc. (NYSE:SHAK)

Man Group plc reduced its holdings in shares of Shake Shack Inc. (NYSE:SHAK) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 405,792 shares of the company’s stock after selling 8,289 shares during the quarter. Man Group plc owned approximately 0.96% of Shake Shack worth $52,672,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Nicholas Investment Partners LP bought a new stake in Shake Shack during the fourth quarter worth $9,889,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Shake Shack by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,651 shares of the company’s stock worth $2,810,000 after acquiring an additional 819 shares during the period. Interval Partners LP bought a new stake in Shake Shack during the fourth quarter worth $16,788,000. Janus Henderson Group PLC increased its position in Shake Shack by 6.2% in the fourth quarter. Janus Henderson Group PLC now owns 17,064 shares of the company’s stock worth $2,216,000 after buying an additional 1,000 shares during the last quarter. Finally, Jefferies Financial Group Inc. increased its position in Shake Shack by 98.4% in the fourth quarter. Jefferies Financial Group Inc. now owns 21,819 shares of the company’s stock worth $2,832,000 after buying an additional 10,819 shares during the last quarter. 86.07% of the stock is currently owned by institutional investors.

Shake Shack Price Performance

Shake Shack stock opened at $115.95 on Thursday. Shake Shack Inc. has a 52 week low of $72.93 and a 52 week high of $139.89. The business has a 50-day simple moving average of $89.98 and a 200 day simple moving average of $111.13. The company has a quick ratio of 1.98, a current ratio of 1.97 and a debt-to-equity ratio of 0.50. The stock has a market cap of $4.93 billion, a price-to-earnings ratio of 504.13 and a beta of 1.61.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). Shake Shack had a return on equity of 8.40% and a net margin of 0.81%. The firm had revenue of $320.90 million during the quarter, compared to analysts’ expectations of $330.24 million. During the same quarter in the previous year, the company posted $0.13 earnings per share. Shake Shack’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, research analysts forecast that Shake Shack Inc. will post 1.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on SHAK shares. Stifel Nicolaus decreased their target price on Shake Shack from $120.00 to $97.00 and set a “hold” rating for the company in a research report on Tuesday, April 15th. Truist Financial decreased their target price on Shake Shack from $154.00 to $131.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. UBS Group decreased their target price on Shake Shack from $140.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, April 28th. Wells Fargo & Company started coverage on Shake Shack in a research report on Wednesday, March 26th. They issued an “equal weight” rating and a $95.00 target price for the company. Finally, TD Securities reissued a “buy” rating and issued a $105.00 target price on shares of Shake Shack in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $113.95.

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.