BJ's Restaurants, Inc. $BJRI Shares Purchased by Ancora Advisors LLC

Key Points

• Ancora Advisors increased its BJ’s Restaurants stake by 141.5% in the second quarter, bringing its holdings to 28,960 shares valued at approximately $1.76 million. Institutional investors collectively own 99.95% of the company.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $56.88. Individual targets ranged from $43 to $74, while Zacks upgraded the stock to “Strong Buy.”
• BJ’s Restaurants exceeded quarterly expectations, reporting $0.94 in EPS versus the $0.90 estimate and revenue of $388.89 million, up 6.4% year over year. However, company insiders sold 124,077 shares worth roughly $7.68 million over the past 90 days.

Ancora Advisors LLC boosted its position in BJ's Restaurants, Inc. (NASDAQ:BJRI - Free Report) by 141.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 28,960 shares of the restaurant operator's stock after acquiring an additional 16,970 shares during the period. Ancora Advisors LLC owned about 0.14% of BJ's Restaurants worth $1,759,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of BJ's Restaurants by 13.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 31,997 shares of the restaurant operator's stock worth $1,943,000 after acquiring an additional 3,857 shares during the period. Hsbc Holdings PLC acquired a new position in shares of BJ's Restaurants in the 2nd quarter valued at about $294,000. Empowered Funds LLC purchased a new position in BJ's Restaurants in the second quarter valued at approximately $5,892,000. Public Employees Retirement System of Ohio acquired a new position in BJ's Restaurants during the second quarter valued at approximately $28,000. Finally, Bank of America Corp DE acquired a new position in shares of BJ's Restaurants during the 2nd quarter valued at $9,476,000. 99.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on BJRI shares. Weiss Ratings upgraded BJ's Restaurants from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, August 21st. Piper Sandler lifted their price objective on shares of BJ's Restaurants from $40.00 to $43.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. Zacks Research raised shares of BJ's Restaurants from a "hold" rating to a "strong-buy" rating in a report on Monday, August 3rd. DA Davidson set a $65.00 target price on BJ's Restaurants in a research note on Friday, July 31st. Finally, Mizuho set a $74.00 price target on BJ's Restaurants in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $56.88.

Insider Activity

In related news, EVP Gregory S. Lynds sold 21,704 shares of BJ's Restaurants stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $68.81, for a total transaction of $1,493,452.24. Following the sale, the executive vice president directly owned 24,770 shares in the company, valued at $1,704,423.70. The trade was a 46.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kendra D. Miller sold 2,978 shares of the firm's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $69.80, for a total transaction of $207,864.40. Following the transaction, the executive vice president directly owned 25,621 shares in the company, valued at approximately $1,788,345.80. The trade was a 10.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 124,077 shares of company stock worth $7,676,952 over the last ninety days. 2.40% of the stock is currently owned by company insiders.

BJ's Restaurants Stock Performance

Shares of BJRI stock opened at $60.71 on Thursday. The company has a market cap of $1.29 billion, a P/E ratio of 32.47, a PEG ratio of 1.86 and a beta of 1.30. The business has a 50 day moving average of $64.83 and a two-hundred day moving average of $49.33. BJ's Restaurants, Inc. has a 52 week low of $28.46 and a 52 week high of $74.60. The company has a quick ratio of 0.22, a current ratio of 0.29 and a debt-to-equity ratio of 0.11.

BJ's Restaurants (NASDAQ:BJRI - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The restaurant operator reported $0.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.90 by $0.04. BJ's Restaurants had a return on equity of 12.93% and a net margin of 2.86%.The business had revenue of $388.89 million during the quarter, compared to analyst estimates of $377.07 million. During the same quarter in the previous year, the firm posted $0.97 EPS. The business's revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, analysts anticipate that BJ's Restaurants, Inc. will post 2.37 EPS for the current year.

BJ's Restaurants 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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