AdvisorShares Investments LLC Boosts Holdings in BJ’s Restaurants, Inc. $BJRI

AdvisorShares Investments LLC raised its position in shares of BJ’s Restaurants, Inc. (NASDAQ:BJRI) by 618.5% during the third quarter, HoldingsChannel reports. The fund owned 19,400 shares of the restaurant operator’s stock after acquiring an additional 16,700 shares during the quarter. AdvisorShares Investments LLC’s holdings in BJ’s Restaurants were worth $592,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Inspire Investing LLC purchased a new stake in shares of BJ’s Restaurants in the second quarter worth approximately $842,000. American Century Companies Inc. grew its position in BJ’s Restaurants by 6.6% in the 2nd quarter. American Century Companies Inc. now owns 824,597 shares of the restaurant operator’s stock valued at $36,777,000 after acquiring an additional 51,062 shares during the last quarter. Hussman Strategic Advisors Inc. bought a new position in BJ’s Restaurants in the 3rd quarter valued at $1,282,000. Arrowstreet Capital Limited Partnership increased its stake in BJ’s Restaurants by 233.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 628,445 shares of the restaurant operator’s stock worth $28,029,000 after purchasing an additional 440,078 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of BJ’s Restaurants during the third quarter worth $2,501,000. Institutional investors own 99.95% of the company’s stock.

Insider Transactions at BJ’s Restaurants

In other BJ’s Restaurants news, EVP Brian S. Krakower sold 8,017 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $39.61, for a total value of $317,553.37. Following the completion of the transaction, the executive vice president directly owned 4,409 shares in the company, valued at approximately $174,640.49. The trade was a 64.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.30% of the stock is owned by company insiders.

BJ’s Restaurants Trading Up 0.5%

Shares of NASDAQ:BJRI opened at $44.03 on Friday. The company has a market capitalization of $930.57 million, a PE ratio of 32.86, a P/E/G ratio of 1.39 and a beta of 1.33. The company has a current ratio of 0.36, a quick ratio of 0.30 and a debt-to-equity ratio of 0.25. BJ’s Restaurants, Inc. has a 12-month low of $28.46 and a 12-month high of $47.02. The business’s fifty day simple moving average is $41.54 and its 200-day simple moving average is $36.38.

BJ’s Restaurants declared that its board has approved a stock repurchase program on Thursday, October 30th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the restaurant operator to reacquire up to 11.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

BJRI has been the topic of a number of research analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of BJ’s Restaurants in a report on Monday, December 29th. Benchmark reissued a “buy” rating on shares of BJ’s Restaurants in a research report on Tuesday, January 20th. Barclays upped their target price on shares of BJ’s Restaurants from $30.00 to $39.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 7th. Jefferies Financial Group reaffirmed a “buy” rating and set a $50.00 price target on shares of BJ’s Restaurants in a research note on Friday, October 31st. Finally, Sanford C. Bernstein reiterated an “underweight” rating and issued a $30.00 price target on shares of BJ’s Restaurants in a report on Friday, October 31st. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, BJ’s Restaurants presently has a consensus rating of “Hold” and a consensus price target of $41.43.

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.