Is it a good time to buy Buffalo Wild Wings Inc (NASDAQ:BWLD) shares? Richard McGuire seems to think so, as his fund Marcato Capital Management disclosed a fresh stake in the company in a recent filing with the Securities and Exchange Commission. According to the filing, the fund now holds 950,000 shares of the company, equivalent to 5.1% of its outstanding stock.
Buffalo Wild Wings Inc (NASDAQ:BWLD) has a market cap of $2.8 billion and does not pay a dividend. The stock sports a trailing Price-to-Earnings (P/E) ratio of 29, lower than the industry average P/E of 39 according to data compiled by Yahoo! Finance. Since the beginning of January, the stock has been trending mostly sideways and shares are currently down by roughly 6% for the year. The company is set to release its next quarterly earnings report today, after the market close, and analysts are looking for $498 million in revenue and earnings of $1.26 per share.
Hedge fund interest in Buffalo Wild Wings Inc (NASDAQ:BWLD) picked up during the first quarter, with the number of long positions being held by the hedge funds in our database having increased to 29 as of March 31, up from 24 at the start of the quarter. Gabriel Plotkin’s Melvin Capital Management held the largest stake among the funds followed by Insider Monkey, having indicated ownership of 245,000 BWLD shares, up by 3% over the quarter. Dmitry Balyasny, on the other hand, chose to limit his exposure to the stock, having dumped 22% of his fund’s stake in it during the same period. According to its latest 13F filing, Balyasny Asset Management held 211,004 shares of Buffalo Wild Wings.
You can access the original SEC filing by clicking here.
Ownership Summary Table
|Name||Sole Voting Power||Shared Voting Power||Sole Dispositive Power||Shared Dispositive Power||Aggregate Amount Owned Power||Percent of Class|
|Marcato Capital Management||0||950,000||0||950,000||950,000||5.1%|
|Richard T. McGuire III||0||950,000||0||950,000||950,000||5.1%|
|Marcato International Master Fund, Ltd||0||670,795||0||670,795||670,795||3.6%|
Page 1 of 12 – SEC Filing
Buffalo Wild Wings, Inc.
(Name of Issuer)
Common Stock, no par value
(Title of Class of Securities)
Richard T. McGuire III
Marcato Capital Management LP
Four Embarcadero Center, Suite 2100
San Francisco, CA 94111
Telephone Number (415) 796-6350
(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications)
July 22, 2016
(Date of Event Which Requires Filing of this Statement)