Tremblant Capital Nearly Doubles Stake in Chipotle Mexican Grill (CMG) to 5.7%
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In a 13G filing on Chipotle Mexican Grill, Inc. (NYSE: CMG), Tremblant Capital disclosed a 5.71%, or 1,052,735 shares, stake in the company. The firm held a 559,859 share stake in Chipotle at the quarter ended September 30, 2008. A 13G indicates a passive investment above 5%.
Tremblant Capital was founded in 2001 by Brett Barakett, a former portfolio manager at Moore Capital Management LLC.
Tremblant had a rough 2008 but had a great track record before that. This is the first major move from Tremblant we've seen in a while.
Shares of Chipotle Mexican are down 31% in the last 6 months, but have rallied back from 52-week low levels in the mid-$30 hit in November and is now back above $50.
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