Buffalo Wild Wings is feeling the heat — and it’s not from its Blazin’ hot sauce.

Just one day after the wing joint painted a rosy picture in a big pitch to analysts, activist hedge fund Marcato Capital called management’s view “excessively optimistic” and demanded an executive shakeup.

An “introduction of fresh talent at both the board and management levels” could help the stock nearly triple in value, Marcato’s Mick McGuire wrote Wednesday in a letter to Chairman James Damian.

McGuire also dinged management for going with their gut rather than doing their homework. He said the chain would benefit from a “greater focus on operational excellence,” saying it suffers from weaker food quality, service speed and technology.

“We have come to appreciate that suboptimal capital allocation behavior is symptomatic of a larger organization deficiency: a tendency to favor gut feel and thematic proclamations without tangible evidence or appropriate analytical support,” he wrote.

Last month, Marcato disclosed a 5.2 percent stake in Buffalo Wild Wings, warning that it might seek changes to the company’s management and operations.

Marcato’s letter adds to the pressure on Chief Executive Sally Smith to boost the share price. A day earlier, the company said it would add $300 million to its stock buyback program.

“Members of our board and management team, as well as our outside advisers, have met with and spoken to Marcato numerous times since learning of its investment,” the company said in a statement. “We have reviewed Marcato’s June 2016 presentation, and will carefully consider its Aug. 17 letter.”

Buffalo Wild Wings’ 96-page presentation Tuesday addressed the company’s efforts to improve its supply chain and reach new customers in so-called “emerging sports” like soccer, online gambling and gaming.

Shares of Minneapolis-based Buffalo Wild Wings gained 2.9 percent Wednesday, closing at $166.06. The stock is up 4 percent year to date; before Marcato disclosed its stake, it was off 10 percent.

Marcato’s $1.8 billion fund is down 2.8 percent year to date, according to HSBC data. The fund, which had been off 12 percent, posted a big turnaround recently, in large part due to its 9.6 percent stake in Sotheby’s, which is now up 56 percent for the year.