Legato Capital Management LLC Purchases 15,470 Shares of Shake Shack Inc. (NYSE:SHAK)

Legato Capital Management LLC raised its position in Shake Shack Inc. (NYSE:SHAK) by 219.5% in the 4th quarter, Holdings Channel reports. The firm owned 22,519 shares of the company’s stock after buying an additional 15,470 shares during the period. Legato Capital Management LLC’s holdings in Shake Shack were worth $2,923,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

SHAK has been the subject of several recent analyst reports. UBS Group raised their target price on shares of Shake Shack from $130.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Gordon Haskett raised Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 price objective for the company in a research report on Wednesday, January 8th. Wedbush reiterated a “neutral” rating and set a $130.00 target price on shares of Shake Shack in a research note on Wednesday, January 15th. Truist Financial cut their price target on Shake Shack from $149.00 to $143.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Finally, Oppenheimer lifted their price objective on shares of Shake Shack from $145.00 to $155.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $123.78.

Insider Buying and Selling

In related news, CFO Katherine Irene Fogertey sold 642 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $137.51, for a total transaction of $88,281.42. Following the sale, the chief financial officer now owns 30,717 shares in the company, valued at approximately $4,223,894.67. This trade represents a 2.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 9.73% of the stock is owned by company insiders.

Shake Shack Price Performance

Shake Shack stock opened at $106.82 on Wednesday. The stock’s fifty day moving average price is $125.55 and its two-hundred day moving average price is $115.50. The firm has a market cap of $4.54 billion, a PE ratio of 628.36 and a beta of 1.86. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.01 and a quick ratio of 1.98. Shake Shack Inc. has a one year low of $75.46 and a one year high of $139.89.

Shake Shack 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.