Buffalo Wild Wings (BWLD) Receives Takeover Offer From Roark Capital

Andrew Cummings
November 15, 2017

Buffalo Wild Wings' shares rose almost 26 percent in early trading on Tuesday, a day after a report said the company received a $2.3-billion takeover bid from private-equity firm Roark Capital Group. Ubs Asset Management Americas Inc grew its ownership by buying 114 shares an increase of 1,266.7% from 06/30/2017 to 09/30/2017. Teachers Advisors LLC now owns 116,567 shares of the restaurant operator's stock valued at $14,769,000 after acquiring an additional 68,398 shares during the last quarter. Wells Fargo & Company boosted their price objective on Buffalo Wild Wings from $110.00 to $150.00 and gave the company a "market perform" rating in a research note on Tuesday. Unlike ROKU, Switch's first quarterly report sent the shares down 5% to $19.11, at last check, and to an intraday low of $18.16 - just pennies away from its early November record low. The value in dollars decreased from $83,023,000 to $50,153,000 a change of 39.6% since the last quarter.

As of the end of the quarter Quantbot Technologies Lp had sold 6,897 shares trimming its position 65.7%.

On October 27 Mizuho kept the company rating at "Hold" targeting a price of $120.00. The most current P/E ratio is 37.45 and market cap is 2.23B. The restaurant operator reported $1.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $0.79 by $0.57. Buffalo Wild Wings had a return on equity of 21.39% and a net margin of 3.17%.

Buffalo Wild Wings has faced some turbulence over the previous year, as the company struggles with high wing costs and declining sales at stores open for at least 15 months. The firm had revenue of $496.70 million during the quarter, compared to analyst estimates of $500.97 million. During the same quarter last year, the firm earned $1.23 EPS. analysts forecast that Buffalo Wild Wings, Inc. will post 4.98 earnings per share for the current year. Finally, Bank of New York Mellon Corp lifted its stake in Buffalo Wild Wings by 1.5% in the third quarter. If you are reading this article on another publication, it was stolen and republished in violation of United States and global copyright & trademark legislation. LS Investment Advisors LLC lifted its holdings in shares of Buffalo Wild Wings by 9.1% in the 2nd quarter. Marcato had accused Buffalo Wild Wings of ripping off franchisees, and nominated three directors to its board.

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