Buffalo Wild Wings Stock Takes Flight After Disclosing New Large Marcato Stake

By Markets MarketWatch Pulse

Buffalo Wild Wings Inc.'s stock surged 5% in afternoon trade Monday, after the company disclosed that Marcato Capital Management has taken a large stake in the restaurant operator. Volume of 1.4 million shares was already nearly triple the full-day average. A regulatory filing disclosed that Marcato, which is run by Richard "Mick" McGuire, who used to work with billionaire investor Bill Ackman, now owns 950,000 shares, or 5.1%, of Buffalo Wild Wings' shares outstanding. That would be enough to make Marcato the company's fourth-largest shareholder, according to data provided by FactSet. The stock has run up 15% since it closed at an 18-month low of $129 on April 27. It is still down 7.3% year to date, while the S&P 500 has gained 5.9%.

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