Landscape Capital Management L.L.C. Purchases New Shares in BJ's Restaurants, Inc. $BJRI

Key Points

• Landscape Capital Management purchased 108,768 BJ’s Restaurants shares worth approximately $6.6 million, representing about 0.51% of the company. Institutional investors collectively own 99.95% of BJRI’s outstanding stock.
• Analysts have a consensus “Hold” rating with an average price target of $56.88, despite ratings ranging from “Strong Buy” to “Sell.” Recent targets include DA Davidson at $65 and Barclays at $38.
• BJRI was trading at $66.76 after rising 3.9%; the company recently exceeded quarterly earnings and revenue estimates, reporting $0.94 EPS and $388.89 million in revenue. Meanwhile, insiders sold more than 131,000 shares worth approximately $8.03 million over the past 90 days.

Landscape Capital Management L.L.C. purchased a new position in shares of BJ's Restaurants, Inc. (NASDAQ:BJRI - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 108,768 shares of the restaurant operator's stock, valued at approximately $6,606,000. Landscape Capital Management L.L.C. owned approximately 0.51% of BJ's Restaurants as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. CWM LLC raised its stake in shares of BJ's Restaurants by 187.7% in the fourth quarter. CWM LLC now owns 699 shares of the restaurant operator's stock worth $28,000 after acquiring an additional 456 shares during the last quarter. Bard Associates Inc. bought a new position in BJ's Restaurants in the 2nd quarter worth approximately $30,000. Quarry LP lifted its holdings in BJ's Restaurants by 1,618.3% during the 3rd quarter. Quarry LP now owns 1,031 shares of the restaurant operator's stock worth $31,000 after buying an additional 971 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new position in BJ's Restaurants during the 4th quarter worth $63,000. Finally, US Bancorp DE lifted its holdings in BJ's Restaurants by 14.5% during the 3rd quarter. US Bancorp DE now owns 3,305 shares of the restaurant operator's stock worth $101,000 after buying an additional 418 shares in the last quarter. Institutional investors own 99.95% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. DA Davidson set a $65.00 target price on BJ's Restaurants in a research report on Friday, July 31st. Weiss Ratings reiterated a "hold (c)" rating on shares of BJ's Restaurants in a report on Friday, August 7th. Barclays decreased their price target on BJ's Restaurants from $42.00 to $38.00 and set an "underweight" rating on the stock in a report on Wednesday, May 6th. Piper Sandler boosted their price objective on BJ's Restaurants from $40.00 to $43.00 and gave the stock a "neutral" rating in a report on Thursday, May 7th. Finally, Zacks Research raised BJ's Restaurants from a "hold" rating to a "strong-buy" rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $56.88.

Insider Buying and Selling

In other news, Director Noah A. Elbogen sold 7,535 shares of the firm's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $70.14, for a total transaction of $528,504.90. Following the sale, the director owned 71,655 shares of the company's stock, valued at $5,025,881.70. This trade represents a 9.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value of $1,493,452.24. Following the transaction, the executive vice president owned 24,770 shares in the company, valued at $1,704,423.70. This trade represents a 46.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 131,601 shares of company stock valued at $8,033,014. 2.40% of the stock is owned by company insiders.

BJ's Restaurants Trading Up 3.9%

BJRI opened at $66.76 on Friday. The firm's fifty day moving average is $63.10 and its two-hundred day moving average is $48.11. The firm has a market cap of $1.42 billion, a PE ratio of 35.70, a price-to-earnings-growth ratio of 1.94 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. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.22 and a current ratio of 0.29.

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

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.

Want to see what other hedge funds are holding BJRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BJ's Restaurants, Inc. (NASDAQ:BJRI - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source