BJ's Restaurants (NASDAQ:BJRI) Director Sells 7,535 Shares of Stock

Key Points

• Director Noah Elbogen sold 7,535 BJ’s Restaurants shares at an average price of $70.14, receiving approximately $528,505 and reducing his direct stake by 9.52%.
• BJRI shares rose 3.2% to $69.70, near the company’s 12-month high of $74.60. The company exceeded quarterly earnings and revenue expectations, reporting $0.94 EPS and $388.89 million in revenue, up 6.4% year over year.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and average price target of $56.88, while institutional investors own 99.95% of the outstanding shares.

BJ's Restaurants, Inc. (NASDAQ:BJRI - Get Free Report) Director Noah Elbogen sold 7,535 shares of the company's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $70.14, for a total value of $528,504.90. Following the sale, the director directly owned 71,655 shares in the company, valued at $5,025,881.70. This represents a 9.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

BJ's Restaurants Stock Up 3.2%

BJRI traded up $2.17 on Wednesday, hitting $69.70. 451,953 shares of the company were exchanged, compared to its average volume of 420,657. The firm has a 50-day moving average price of $59.91 and a two-hundred day moving average price of $46.79. The company has a current ratio of 0.29, a quick ratio of 0.22 and a debt-to-equity ratio of 0.11. The company has a market cap of $1.48 billion, a price-to-earnings ratio of 37.27, a price-to-earnings-growth ratio of 2.09 and a beta of 1.32. BJ's Restaurants, Inc. has a twelve month low of $28.46 and a twelve month high of $74.60.

BJ's Restaurants (NASDAQ:BJRI - Get Free Report) last issued its earnings results on Thursday, July 30th. The restaurant operator reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.04. BJ's Restaurants had a net margin of 2.86% and a return on equity of 12.93%. The firm had revenue of $388.89 million for the quarter, compared to analysts' expectations of $377.07 million. During the same quarter last year, the company earned $0.97 earnings per share. The firm's revenue was up 6.4% compared to the same quarter last year. On average, equities analysts predict that BJ's Restaurants, Inc. will post 2.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BJRI. Piper Sandler increased their target price on BJ's Restaurants from $40.00 to $43.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. Zacks Research raised BJ's Restaurants from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 3rd. Mizuho set a $74.00 target price on BJ's Restaurants in a research report on Friday, July 31st. Benchmark boosted their target price on BJ's Restaurants from $68.00 to $80.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of BJ's Restaurants in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $56.88.

Institutional Investors Weigh In On BJ's Restaurants

A number of institutional investors and hedge funds have recently made changes to their positions in BJRI. BlackRock Inc. purchased a new position in shares of BJ's Restaurants during the second quarter worth about $200,006,000. UBS Group AG raised its stake in BJ's Restaurants by 576.9% during the 3rd quarter. UBS Group AG now owns 1,451,883 shares of the restaurant operator's stock valued at $44,326,000 after acquiring an additional 1,237,383 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in BJ's Restaurants by 2.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,114,685 shares of the restaurant operator's stock worth $39,125,000 after acquiring an additional 30,684 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of BJ's Restaurants by 48.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 935,375 shares of the restaurant operator's stock valued at $28,557,000 after purchasing an additional 306,930 shares during the last quarter. Finally, Raymond James Financial Inc. grew its stake in shares of BJ's Restaurants by 67.3% in the 3rd quarter. Raymond James Financial Inc. now owns 388,779 shares of the restaurant operator's stock valued at $11,869,000 after purchasing an additional 156,458 shares during the last quarter. 99.95% of the stock is owned by hedge funds and other institutional investors.

BJ's Restaurants Company Profile

BJ's Restaurants, Inc is a publicly traded casual dining chain known for its deep‐dish pizzas, California‐style thin crust offerings and in‐house craft beer selections. Operating under the BJ's Restaurant & Brewhouse brand, the company combines a microbrewery concept with full‐service dining, offering an extensive menu that includes appetizers, salads, pasta dishes, sandwiches and the signature Pizookie dessert.

Founded in 1978 in Orange County, California, BJ's Restaurants began as BJ's Chicago Pizzeria, bringing a Chicago‐style pizza experience to the West Coast.

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