Insider Selling in Shake Shack (SHAK) Shares Continues
10:19 PM EST, 02/04/2021 (MT Newswires) -- There was a significant sale of shares of Shake Shack by an insider today, as indicated in a form 4 document filed with the SEC. One insider -- Daniel Harris Meyer, 10% Owner and Director -- sold 110,000 shares in the company having a market value of approximately $12,292,935. There was one insider buy/sell transaction in the past 90 days prior to this transaction which resulted in the sale of 185,885 shares. Adding the most recent activity to this 90-day history indicates insider trades have been net sales of 295,885 shares and have averaged 147,943 shares per transaction over this time period.
Shake Shack insider trading represents a higher number of buy/sell trades than for the 40 peer company average over the last 90-day period. The Restaurants & Bars peer group saw 37 buy/sell trades during this period for an average of 0.9 transactions per company. The number of shares per buy/sell trade for Shake Shack insiders was also higher. Within the peer group there were 266,517 shares purchased and 258,126 shares sold with company insiders having bought 442 shares on average.
To bring into focus significant insider buying and selling activity, all trading activity reported to the SEC that involves awards, options, exercise of derivative securities, company buy-backs, taxes, gifts, shares acquired via inheritance and tenders or exchange offers has been eliminated in data sourced to evaluate and write this story.
This report does not constitute a recommendation to purchase or sell any security and the analysts are not registered investment advisors. Further analysis is recommended before undertaking any position in any security. Any risks are solely the responsibility of the buyer/seller. The authors, publishers and distributors of the MT Newswires Live Briefs service and any associates thereof accept no liability for the content or actions taken by anyone or institution utilizing this report.