BJ’s Restaurants Inc. (BJRI) Shares Down 2.6% Following Insider Selling
BJ’s Restaurants Inc. (NASDAQ:BJRI) shares were down 2.6% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $35.32 and last traded at $35.41, with a volume of 274,772 shares. The stock had previously closed at $36.36.
Specifically, Director Larry D. Bouts sold 26,792 shares of the firm’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $40.86, for a total transaction of $1,094,721.12. Following the transaction, the director now owns 1,955 shares in the company, valued at approximately $79,881.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Luxor Capital Group, Lp sold 11,298 shares of the firm’s stock in a transaction that occurred on Monday, September 26th. The stock was sold at an average price of $37.32, for a total value of $421,641.36. The disclosure for this sale can be found here. 7.10% of the stock is owned by insiders.
A number of analysts have weighed in on BJRI shares. Canaccord Genuity started coverage on BJ’s Restaurants in a research report on Monday, August 22nd. They set a “hold” rating and a $43.00 price objective for the company. Jefferies Group reaffirmed a “hold” rating on shares of BJ’s Restaurants in a research note on Wednesday, August 3rd. Barclays PLC dropped their price target on BJ’s Restaurants from $46.00 to $38.00 and set an “underweight” rating for the company in a research report on Thursday, July 28th. Wedbush dropped their price target on BJ’s Restaurants from $55.00 to $47.00 and set an “outperform” rating for the company in a research report on Wednesday, July 27th. Finally, Stifel Nicolaus downgraded BJ’s Restaurants from a “buy” rating to a “sell” rating and lowered their price objective for the company from $52.00 to $35.00 in a research report on Tuesday, July 26th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $40.67.
The firm has a market cap of $847.02 million, a price-to-earnings ratio of 18.17 and a beta of 1.09. The company has a 50-day moving average of $38.86 and a 200-day moving average of $42.36.
BJ’s Restaurants (NASDAQ:BJRI) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by $0.01. The company earned $250.30 million during the quarter, compared to analyst estimates of $253.23 million. BJ’s Restaurants had a net margin of 5.09% and a return on equity of 14.58%. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.47 EPS. On average, equities analysts forecast that BJ’s Restaurants Inc. will post $1.86 EPS for the current year.
Several hedge funds have recently modified their holdings of BJRI. BlackRock Institutional Trust Company N.A. raised its stake in shares of BJ’s Restaurants by 2.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 542,290 shares of the company’s stock worth $22,543,000 after buying an additional 10,377 shares in the last quarter. Loomis Sayles & Co. L P bought a new stake in shares of BJ’s Restaurants during the first quarter worth $1,180,000. Spark Investment Management LLC bought a new stake in shares of BJ’s Restaurants during the first quarter worth $927,000. JPMorgan Chase & Co. bought a new stake in shares of BJ’s Restaurants during the first quarter worth $2,999,000. Finally, UBS Group AG raised its stake in shares of BJ’s Restaurants by 145.4% in the first quarter. UBS Group AG now owns 35,631 shares of the company’s stock worth $1,482,000 after buying an additional 21,114 shares in the last quarter. 93.55% of the stock is owned by institutional investors and hedge funds.
About BJ’s Restaurants
BJ’s Restaurants, Inc owns and operates restaurants. The Company’s restaurants are operated as a BJ’s Restaurant & Brewery, a BJ’s Restaurant & Brewhouse, a BJ’s Pizza & Grill and a BJ’s Grill restaurant. Its menu features deep-dish pizza, craft beers and other beers, as well as a selection of appetizers, entrees, pastas, sandwiches, specialty salads and desserts, including its Pizookie dessert.
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