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Investment manager Marcato Capital Management says the changes to the board 'do not go far enough,' even though one of the nominees came from its dissident slate.
Activists could push Ruby Tuesday to sell itself, its real estate or franchise more locations to raise cash for stock buybacks, but analysts eye a REIT conversion instead
While Buffalo Wild Wings tries persuading shareholders of its long-term value, management and the board have sold the vast majority of their stock, Marcato says.
The fast-casual eatery space has challenges, but Buffalo Wild Wings seems to have its share and then some.