In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Buffalo Wild Wings Inc (NASDAQ:BWLD) reported that Marcato Capital Management has picked up 1,597,600 of common stock as of 2017-05-18.
The acquisition brings the aggregate amount owned by Marcato Capital Management to a total of 1,597,600 representing less than 9.9% stake in the company.
For those not familiar with the company, Buffalo Wild Wings, Inc. is the owner, operator and franchisor of restaurants. As of December 25, 2016, the Company’s made-to-order menu items included 16 sauces and five seasonings, ranging from Sweet BBQ to Blazin. The Company’s restaurants offer 20 to 40 domestic and imported beers on tap, including craft brews, and a selection of bottled beers, wines and liquor. As of December 25, 2016, the Company had company-owned or franchised restaurants in all 50 states and two Canadian provinces. Its franchised restaurants also operate in Mexico, Saudi Arabia, Philippines, Panama and the United Arab Emirates. The Company operates Buffalo Wild Wings, R Taco and PizzaRev restaurants, as well as sells Buffalo Wild Wings and R Taco restaurant franchises. In addition to traditional and boneless chicken wings, the Company’s menu features a range of food items, including sharables, hamburgers, sandwiches, wraps, Buffalito soft tacos, and salads.
A glance at Buffalo Wild Wings Inc (NASDAQ:BWLD) key stats reveals a current market capitalization of 2.37 Billion based on 16.14 Million shares outstanding and a price at last close of $153.65 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2015-05-01, Davis picked up 315 at a purchase price of $158.60. This brings their total holding to 315 as of the date of the filing.
On the sell side, the most recent transaction saw Decker unload 100 shares at a sale price of $157.85. This brings their total holding to 10,187.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Buffalo Wild Wings Inc (NASDAQ:BWLD) as things move forward to see if its progress aligns with these transactions.
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