Chipotle Mexican Grill, Inc. (CMG) Pushes To All-Time High, But Is It Really All That And A Bag Of Chips?

Hedge Fund Sentiments on Chipotle Mexican Grill, Inc. (NYSE:CMG)

The biggest shareholder at the end of the first quarter out of these funds was Donald Chiboucis’ Columbus Circle Investors with 219,797 shares, although the fund trimmed its position by 15%. Renaissance Technologies, managed by Jim Simons, came second with a total of 215,600 shares, after offloading 30% of its own shares. There were also funds that either opened new positions or raised their existing ones in the stock during the quarter. For example, Ken Griffin’s Citadel Investment Group raised its stake by a whopping 1,598% to 116,065 shares, while Jason Karp opened a new position of 105,000 shares during the quarter.

Given all of that, we reiterate our previous rating on the stock and do not suggest buying it at this time. We believe the stock’s performance is not entirely consistent with the company’s performance or future prospects, and that this is a stock that continues to be overbought.

Disclosure: None