Shake Shack Inc. (SHAK): Daniel Harris Meyer , director 10% owner of Shake Shack Inc. sold 29,900 shares on Jul 20, 2016. The Insider selling transaction was reported by the company on Jul 22, 2016 to the Securities and Exchange Commission. The shares were sold at $40.02 per share for a total value of $1,196,565.50 , the company said in a SEC Form 4 Filing.
Other Insider transactions have been reported by the company according to SEC Form 4, on Jul 15, 2016, Daniel Harris Meyer (director 10% owner) sold 100 shares at $40.00 per share price.On Jul 14, 2016, Point Capital, L.p. Granite (10% owner) sold 100,000 shares at $38.22 per share price.Also, On Jul 8, 2016, Randall J Garutti (director officer 10% owner (Chief Executive Offic) sold 10,000 shares at $36.67 per share price.On Jul 8, 2016, Jonathan D Sokoloff (director 10% owner) sold 150,000 shares at $36.34 per share price.
Shake Shack Inc: On Wednesday, Jul 20, 2016 heightened volatility was witnessed in Shake Shack Inc which led to swings in the share price. The shares opened for trading at $38.91 and hit $40.07 on the upside , eventually ending the session at $39.77, with a gain of 3.11% or 1.2 points. The heightened volatility saw the trading volume jump to 9,73,884 shares. The 52-week high of the share price is $75.9 and the company has a market cap of $1,443 M . The 52-week low of the share price is at $30.
Company has been under the radar of several Street Analysts.Shake Shack Inc is Initiated by Wedbush to Underperform and the brokerage firm has set the Price Target at $30. The Rating was issued on Jul 7, 2016.Shake Shack Inc is Initiated by Buckingham Research to Buy and the brokerage firm has set the Price Target at $45. The Rating was issued on Jun 16, 2016.
Shake Shack Inc. (Shake Shack) is a holding company with no direct operations and its principal asset is the equity interest in SSE Holdings LLC (SSE Holdings). The Company holds 33.3% ownership interest in SSE Holdings. SSE Holdings operates and licenses restaurants in the global restaurant industry serving hamburgers hot dogs crinkle-cut fries shakes frozen custard beer and wine. As of December 31 2014 the Company had 63 Shake Shack restaurants (Shacks) in nine countries and 34 cities. The Company owns and operates Shacks in 10 states and the District of Columbia. As of December 31 2014 the Company had 31 company-operated Shacks in operation in the United States. The Company also has license arrangements with affiliated and unaffiliated operators to develop and operate Shacks. As of December 31 2014 32 licensed Shacks were in operation under license agreements in North America Europe and Asia.