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Buffalo Wild Wings (BWLD): Marcato Capital Discloses Bullish New Position Ahead of Earnings

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.

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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.

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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 0 255,740 0 255,740 255,740 1.4%
Marcato II 0 23,465 0 23,465 23,465 0.1%
Marcato International Master Fund, Ltd 0 670,795 0 670,795 670,795 3.6%
Richard Mcguire
Richard Mcguire
Marcato Capital Management

Page 1 of 12 – SEC Filing

(Amendment No. __)*
Buffalo Wild Wings, Inc.
(Name of Issuer)
Common Stock, no par value
(Title of Class of Securities)
(CUSIP Number)

 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)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box. ☐
Note:  Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.  See Rule 13d-7 for other parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section of the Act but shall be subject to all other  provisions of the Act  (however, see the Notes).
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