BJ’s Restaurants, Inc. (NASDAQ:BJRI) Sees Large Decrease in Short Interest

BJ’s Restaurants, Inc. (NASDAQ:BJRI) was the recipient of a significant decline in short interest in the month of January. As of January 30th, there was short interest totaling 1,294,206 shares, a decline of 20.7% from the January 15th total of 1,631,135 shares. Based on an average daily volume of 330,385 shares, the days-to-cover ratio is presently 3.9 days. Approximately 6.4% of the shares of the company are sold short. Approximately 6.4% of the shares of the company are sold short. Based on an average daily volume of 330,385 shares, the days-to-cover ratio is presently 3.9 days.

Insider Activity at BJ’s Restaurants

In related news, EVP Brian S. Krakower sold 8,017 shares of BJ’s Restaurants stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $39.61, for a total transaction of $317,553.37. Following the completion of the sale, the executive vice president owned 4,409 shares of the company’s stock, valued at approximately $174,640.49. The trade was a 64.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BJ’s Restaurants

A number of hedge funds have recently made changes to their positions in BJRI. AQR Capital Management LLC lifted its stake in shares of BJ’s Restaurants by 15.6% in the first quarter. AQR Capital Management LLC now owns 37,189 shares of the restaurant operator’s stock worth $1,274,000 after acquiring an additional 5,013 shares during the period. Caxton Associates LLP acquired a new position in shares of BJ’s Restaurants in the 1st quarter worth approximately $291,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of BJ’s Restaurants in the 2nd quarter valued at $510,000. Ground Swell Capital LLC acquired a new stake in shares of BJ’s Restaurants during the second quarter worth $289,000. Finally, AlphaQuest LLC raised its stake in BJ’s Restaurants by 71.6% during the second quarter. AlphaQuest LLC now owns 10,804 shares of the restaurant operator’s stock worth $482,000 after buying an additional 4,508 shares during the last quarter. 99.95% of the stock is currently owned by institutional investors.

BJ’s Restaurants Stock Up 0.5%

NASDAQ:BJRI opened at $40.54 on Tuesday. The firm’s 50 day simple moving average is $42.06 and its 200 day simple moving average is $36.53. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.30. BJ’s Restaurants has a one year low of $28.46 and a one year high of $47.02. The company has a market cap of $857.02 million, a PE ratio of 30.25, a P/E/G ratio of 1.28 and a beta of 1.33.

BJ’s Restaurants declared that its Board of Directors has approved a stock buyback program on Thursday, October 30th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the restaurant operator to repurchase up to 11.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on BJRI shares. Mizuho set a $39.00 price objective on BJ’s Restaurants in a report on Friday, January 9th. Sanford C. Bernstein restated an “underweight” rating and issued a $30.00 price target on shares of BJ’s Restaurants in a research note on Friday, October 31st. Wall Street Zen lowered BJ’s Restaurants from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Jefferies Financial Group reissued a “buy” rating and set a $50.00 target price on shares of BJ’s Restaurants in a report on Friday, October 31st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of BJ’s Restaurants in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, 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.