Shake Shack (SHAK) : Traders are increasing their bearish positions on the stock, as is visible by the 9.4% jump in the outstanding short positions; a total addition of 537,612 shares on the sell side. On Jul 29, 2016, the total short positions were 5,740,174 shares, which went up to 6,277,786 shares by the close of trading on August 15, 2016. It will take 4 days for the bears to roll over or cover. An average of 1,719,790 shares exchange hands daily. 37.1% of the float of the stock has been sold short by the bears. The short interest information was released on Wednesday Aug 24th after the market close.
Shake Shack (NYSE:SHAK): The stock opened at $35.94 on Wednesday but the bulls could not build on the opening and the stock topped out at $36.87 for the day. The stock traded down to $35.52 during the day, due to lack of any buying support eventually closed down at $35.64 with a loss of -0.81% for the day. The stock had closed at $35.93 on the previous day. The total traded volume was 1,446,606 shares.
In a related news, Flug Jeffrey, director 10% owner of Shake Shack Inc., unloaded 15,772 shares at an average price of $37.92 on August 15, 2016. The total amount of the transaction was worth $598,074, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
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.