Emerald Advisers LLC Has $18.64 Million Stock Position in BJ's Restaurants, Inc. $BJRI

Key Points

• Emerald Advisers LLC trimmed its BJ’s Restaurants stake by 3.7% in the first quarter, but still held 530,999 shares worth about $18.64 million at quarter-end.
• BJ’s Restaurants reported Q1 earnings of $0.57 per share, missing estimates, while revenue of $358.12 million slightly beat forecasts and rose 2.9% year over year.
• The stock has been active among investors and insiders: institutional ownership is nearly all of the float, but several executives recently sold shares, and analysts currently have a Hold consensus with a $42 target price.

Emerald Advisers LLC lowered its stake in shares of BJ's Restaurants, Inc. (NASDAQ:BJRI - Free Report) by 3.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 530,999 shares of the restaurant operator's stock after selling 20,623 shares during the quarter. Emerald Advisers LLC owned about 2.53% of BJ's Restaurants worth $18,638,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. UBS Group AG boosted its holdings in BJ's Restaurants by 576.9% in the 3rd quarter. UBS Group AG now owns 1,451,883 shares of the restaurant operator's stock valued at $44,326,000 after purchasing an additional 1,237,383 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of BJ's Restaurants by 48.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 935,375 shares of the restaurant operator's stock worth $28,557,000 after purchasing an additional 306,930 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of BJ's Restaurants during the 2nd quarter worth about $13,380,000. Balyasny Asset Management L.P. bought a new stake in BJ's Restaurants in the 4th quarter valued at $10,863,000. Finally, Millennium Management LLC raised its stake in shares of BJ's Restaurants by 394.5% in the 4th quarter. Millennium Management LLC now owns 309,269 shares of the restaurant operator's stock valued at $12,185,000 after buying an additional 246,733 shares in the last quarter. 99.95% of the stock is currently owned by institutional investors and hedge funds.

BJ's Restaurants Trading Up 0.2%

Shares of NASDAQ BJRI opened at $62.39 on Tuesday. The firm has a market capitalization of $1.31 billion, a P/E ratio of 31.51, a P/E/G ratio of 2.02 and a beta of 1.31. The company's 50 day simple moving average is $49.74 and its 200 day simple moving average is $43.11. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.31 and a quick ratio of 0.25. BJ's Restaurants, Inc. has a fifty-two week low of $28.46 and a fifty-two week high of $63.67.

BJ's Restaurants (NASDAQ:BJRI - Get Free Report) last issued its earnings results on Tuesday, May 5th. The restaurant operator reported $0.57 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.04). The firm had revenue of $358.12 million during the quarter, compared to the consensus estimate of $356.97 million. BJ's Restaurants had a net margin of 3.15% and a return on equity of 13.48%. The firm's revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.59 EPS. On average, analysts predict that BJ's Restaurants, Inc. will post 2.21 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on BJRI shares. Weiss Ratings lowered BJ's Restaurants from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, May 11th. Piper Sandler upped their target price on shares of BJ's Restaurants from $40.00 to $43.00 and gave the stock a "neutral" rating in a report on Thursday, May 7th. Benchmark raised their target price on BJ's Restaurants from $48.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Barclays cut their price target on BJ's Restaurants from $42.00 to $38.00 and set an "underweight" rating for the company in a report on Wednesday, May 6th. Finally, Citigroup reduced their price target on shares of BJ's Restaurants from $49.00 to $47.00 and set a "neutral" rating on the stock in a research report on Thursday, April 16th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $42.00.

Insiders Place Their Bets

In related news, EVP Gregory S. Lynds sold 6,201 shares of the company's stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $55.86, for a total value of $346,387.86. Following the completion of the sale, the executive vice president owned 46,474 shares in the company, valued at $2,596,037.64. This represents a 11.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Brian S. Krakower sold 7,341 shares of the company's stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $55.17, for a total transaction of $405,002.97. Following the completion of the transaction, the executive vice president directly owned 4,721 shares of the company's stock, valued at approximately $260,457.57. The trade was a 60.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 63,817 shares of company stock worth $3,384,688 over the last 90 days. 2.40% of the stock is currently owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.