Scan to Download Gate App
qrCode
More Download Options
Don't remind me again today

Major Fund Dumps Entire Shake Shack Stake – What's the Signal?

Mane Global just nuked its entire $80M Shake Shack position in Q3, offloading 570,507 shares. This was their 8th-largest holding at 3.4% of AUM – so yeah, kind of a big deal.

Here’s the thing: SHAK’s down 33% YTD and sliding hard since August, so Mane might’ve just taken profits before things got worse. Or maybe they’re reading the room differently.

But here’s where it gets spicy – the company’s fundamentals aren’t terrible. Same-store sales up 19 straight quarters, store count grew 14% to 630 locations last quarter, and management thinks they can 4x company-owned restaurants long-term. Growing 15-17% annually, trading at 18x operating cash flow (around 22-25x FCF excluding expansion spend).

So is SHAK in trouble, or just overcooked? Mane literally re-opened a position in 2023 after exiting before. Worth watching if they buy back in after this dip.

Top holdings now: MSFT ($144M), Broadcom ($134M), AppLovin ($127M).

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
  • Pin
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)