Granite Point Capital Management L.P. lowered its holdings in shares of Shake Shack Inc (NYSE:SHAK) by 15.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 26,000 shares of the company’s stock after selling 4,600 shares during the quarter. Granite Point Capital Management L.P.’s holdings in Shake Shack were worth $1,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Ameriprise Financial Inc. boosted its stake in Shake Shack by 4.6% during the second quarter. Ameriprise Financial Inc. now owns 108,715 shares of the company’s stock worth $3,792,000 after buying an additional 4,764 shares in the last quarter. Wasatch Advisors Inc. acquired a new stake in Shake Shack during the third quarter worth $1,994,000. OxFORD Asset Management LLP acquired a new stake in shares of Shake Shack in the 3rd quarter valued at $1,423,000. Sylebra HK Co Ltd boosted its stake in shares of Shake Shack by 2.6% in the 3rd quarter. Sylebra HK Co Ltd now owns 1,001,849 shares of the company’s stock valued at $33,291,000 after purchasing an additional 25,546 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its stake in shares of Shake Shack by 40.5% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 58,820 shares of the company’s stock valued at $2,052,000 after purchasing an additional 16,952 shares in the last quarter. Hedge funds and other institutional investors own 82.49% of the company’s stock.

Shake Shack Inc (NYSE SHAK) opened at $39.22 on Tuesday. Shake Shack Inc has a twelve month low of $30.12 and a twelve month high of $47.39. The stock has a market capitalization of $1,453.73, a PE ratio of 63.26, a P/E/G ratio of 3.19 and a beta of 1.33.

In related news, CEO Randall J. Garutti sold 8,000 shares of Shake Shack stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $37.24, for a total value of $297,920.00. Following the completion of the transaction, the chief executive officer now directly owns 18,961 shares of the company’s stock, valued at $706,107.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel Harris Meyer sold 100,000 shares of Shake Shack stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $42.90, for a total value of $4,290,000.00. The disclosure for this sale can be found here. Insiders sold 1,034,707 shares of company stock valued at $43,848,268 over the last ninety days. 34.91% of the stock is currently owned by company insiders.

Several brokerages have recently commented on SHAK. Morgan Stanley boosted their target price on shares of Shake Shack from $32.00 to $34.00 and gave the company an “equal weight” rating in a research note on Thursday, November 2nd. Barclays restated an “equal weight” rating and issued a $49.00 target price (up previously from $36.00) on shares of Shake Shack in a research note on Tuesday, January 16th. Wedbush restated a “hold” rating and issued a $36.00 target price on shares of Shake Shack in a research note on Thursday, November 2nd. Cowen boosted their target price on shares of Shake Shack from $35.00 to $36.00 and gave the company a “market perform” rating in a research note on Thursday, November 2nd. Finally, SunTrust Banks restated a “buy” rating and issued a $50.00 target price on shares of Shake Shack in a research note on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $38.94.

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Shake Shack Company Profile

Shake Shack Inc operates roadside burger stands. The Company serves an American menu of burgers, hot dogs, crispy chicken, frozen custard, crinkle cut fries, shakes, beer and wine, among others. The Company’s signature items are its all-natural, hormone and antibiotic-free burgers, hot dogs, crispy chicken, crinkle cut fries, shakes and frozen custard.

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

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