BJ’s Restaurants (NASDAQ:BJRI) Shares Up 9.5% Following Insider Buying Activity

BJ’s Restaurants, Inc. (NASDAQ:BJRI) shot up 9.5% during mid-day trading on Friday following insider buying activity. The company traded as high as $35.98 and last traded at $35.85, 828,124 shares traded hands during mid-day trading. An increase of 52% from the average session volume of 545,803 shares. The stock had previously closed at $32.73.

Specifically, Director Gerald W. Deitchle acquired 3,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of $33.81 per share, with a total value of $101,430.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Greg Trojan acquired 14,400 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were acquired at an average cost of $32.92 per share, with a total value of $474,048.00. The disclosure for this purchase can be found here. 2.30% of the stock is currently owned by insiders.

Several brokerages have recently commented on BJRI. Oppenheimer cut their price objective on BJ’s Restaurants from $52.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Piper Jaffray Companies cut their target price on BJ’s Restaurants from $70.00 to $56.00 and set an “overweight” rating for the company in a research note on Friday, July 26th. Stifel Nicolaus cut their target price on BJ’s Restaurants from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Friday, July 26th. Robert W. Baird cut their target price on BJ’s Restaurants from $53.00 to $42.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Finally, CIBC raised BJ’s Restaurants from a “market perform” rating to an “outperform” rating and set a $52.00 target price for the company in a research note on Friday, June 14th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $50.67.



The firm has a market cap of $735.99 million, a PE ratio of 15.26, a price-to-earnings-growth ratio of 1.25 and a beta of 0.88. The company has a 50 day simple moving average of $40.44 and a 200-day simple moving average of $45.38. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.37 and a quick ratio of 0.30.

BJ’s Restaurants (NASDAQ:BJRI) last issued its earnings results on Thursday, July 25th. The restaurant operator reported $0.68 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by ($0.06). The firm had revenue of $301.09 million during the quarter, compared to analysts’ expectations of $300.35 million. BJ’s Restaurants had a return on equity of 14.63% and a net margin of 4.05%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.79 EPS. On average, sell-side analysts predict that BJ’s Restaurants, Inc. will post 1.98 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Monday, August 12th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Friday, August 9th. BJ’s Restaurants’s dividend payout ratio (DPR) is presently 20.43%.

Several large investors have recently added to or reduced their stakes in BJRI. Norges Bank purchased a new stake in shares of BJ’s Restaurants during the fourth quarter valued at approximately $20,275,000. Marshall Wace LLP boosted its stake in shares of BJ’s Restaurants by 141.1% during the first quarter. Marshall Wace LLP now owns 566,293 shares of the restaurant operator’s stock valued at $26,774,000 after purchasing an additional 331,443 shares during the period. Marshall Wace North America L.P. boosted its stake in shares of BJ’s Restaurants by 209.3% during the second quarter. Marshall Wace North America L.P. now owns 475,590 shares of the restaurant operator’s stock valued at $20,898,000 after purchasing an additional 321,809 shares during the period. Neuberger Berman Group LLC boosted its stake in shares of BJ’s Restaurants by 67.5% during the first quarter. Neuberger Berman Group LLC now owns 717,915 shares of the restaurant operator’s stock valued at $33,943,000 after purchasing an additional 289,372 shares during the period. Finally, Balyasny Asset Management LLC boosted its stake in shares of BJ’s Restaurants by 1,832.8% during the second quarter. Balyasny Asset Management LLC now owns 237,735 shares of the restaurant operator’s stock valued at $10,446,000 after purchasing an additional 225,435 shares during the period.

About BJ’s Restaurants (NASDAQ:BJRI)

BJ's Restaurants, Inc owns and operates casual dining restaurants in the United States. Its restaurants offer pizzas, craft and other beers, appetizers, entrées, pastas, sandwiches, specialty salads, and desserts. As of April 16, 2019, the company owned and operated 204 casual dining restaurants that offer dine-in, take-out, delivery, and party catering services in 27 states of Alabama, Arizona, Arkansas, California, Colorado, Florida, Indiana, Kansas, Kentucky, Louisiana, Maryland, Michigan, Nevada, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Virginia, and Washington.

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