Long
Burgerfi Is A Sleeping (Baby) Giant
Seems like the management is starting to get things together after showing a year of managerial pain points during it's growth. KMPG has recently been working with Burgerfi to fix "material weaknesses" in the company's audit procedures. Earnings are now coming earlier than expected next Monday, 5/16 after hours. I've been looking forward to these Q122 earnings since the acquisition of Anthony's late last year.
This stock has been hammered with other SPACS before the enitre market started to take a downturn. IMO, the financials on Monday will start to recognize positive synergies with the Anthony's Coal Fired Pizza acquisition. I'm optimistic that this company may finally get on the radar of other retail investors and start nudging higher - volume has only been around 100K a day for 7/8 months now during intense selling pressure. Notable hedge funds have taken long positions over the past year, in addition to insiders buying a couple hundred thousand shares over the past month.
27 corporate owned Burgerfi stores as of now, with 97 additional Burgerfi franchised stores, 61 corporate owned Anthony's and a current market cap of
65M with projected 2022 sales of $180-200M.
For comparison,
SHAK has 225+ corprate owned stores in the US and 120ish outside of the US.
If we break down SHAK vs BFI vs CMG corporate owned stores only by market cap (and exclude BFI franchised, as well as the 61 corp owned Anthony's):
BFI corp owned store = 65M/27 = 2.4M per store
SHAK corp owned store = 2B/346 = 5.8M per store
CMG (Chipotle) corp owned = 36B/3000 = 12M per store
While BFI is obsiously not Chipotle, it certainly has a solid niche market in the southeast US (notably FL which is booming with population growth), an excellent food product and store concept. One could argue it has the blueprint for growth to challenge SHAK as the major better burger on the East Coast US.
GLTA, thanks for reading.
- C
This stock has been hammered with other SPACS before the enitre market started to take a downturn. IMO, the financials on Monday will start to recognize positive synergies with the Anthony's Coal Fired Pizza acquisition. I'm optimistic that this company may finally get on the radar of other retail investors and start nudging higher - volume has only been around 100K a day for 7/8 months now during intense selling pressure. Notable hedge funds have taken long positions over the past year, in addition to insiders buying a couple hundred thousand shares over the past month.
27 corporate owned Burgerfi stores as of now, with 97 additional Burgerfi franchised stores, 61 corporate owned Anthony's and a current market cap of
65M with projected 2022 sales of $180-200M.For comparison,
SHAK has 225+ corprate owned stores in the US and 120ish outside of the US.If we break down SHAK vs BFI vs CMG corporate owned stores only by market cap (and exclude BFI franchised, as well as the 61 corp owned Anthony's):
BFI corp owned store = 65M/27 = 2.4M per store
SHAK corp owned store = 2B/346 = 5.8M per store
CMG (Chipotle) corp owned = 36B/3000 = 12M per store
While BFI is obsiously not Chipotle, it certainly has a solid niche market in the southeast US (notably FL which is booming with population growth), an excellent food product and store concept. One could argue it has the blueprint for growth to challenge SHAK as the major better burger on the East Coast US.
GLTA, thanks for reading.
- C
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