Marcato Capital Management has nominated four people to the
board of casual dining chain Buffalo Wild Wings, including Mick
McGuire III, who heads up the San Francisco-based activist
hedge fund firm. The other three have experience in the
restaurant or food service businesses.
"Marcato believes that its nominees’
substantial restaurant expertise will strengthen Buffalo Wild
Wings’ brand strategy, restaurant-level execution,
franchising plan and capital allocation framework," the firm
states in a press release. Last month, Buffalo Wild Wings
announced a $400 million stock repurchase program, bringing the
total authorization to $900 million.
The company also moved up its plan to reach a leverage ratio
target of 1.5 times debt to EBITDA to the end of fiscal 2017
from its previous target date of the end of fiscal 2018.
Marcato initiated its activist position in the stock in the
third quarter of 2016, becoming the fourth-largest shareholder,
with 5.2 percent of the shares. Shares of the company rose 0.8
percent to close at $151.15.
Caxton Corp. disclosed it boosted its stake in Agile
Therapeutics by about 350,000 shares, as of December 31, 2016,
to more than 2.1 million shares, or 7.4 percent of the
women’s health specialty pharmaceutical company.
The investment is filed as a passive position.
Balyasny Asset Management disclosed it owned 2.2 million
shares of Restoration Hardware Holdings, or 5.4 percent of the
total number of shares as of January 31. This is a six-fold
increase in the Chicago hedge fund firm’s passive
stake in the high-end home furnishings company compared with
the end of the third quarter, the latest quarterly statement it
is required to have filed at this time. The deadline for
disclosing year-end holdings is next Tuesday, February 14.
Ricky Sandler’s Eminence Capital led the $15
million Series C financing for Comprehend Systems. The company
offers a variety of intelligence applications that enables
health care professionals and related people to "significantly
improve the speed, safety and quality of a portfolio of
clinical trials," according to a company description.
Valeant Pharmaceuticals International surged 2.6 percent on
Monday. As a result the stock is slightly above break-even for
the year. However, remember it was still down 86 percent last