BJ’s Restaurants, Inc. (NASDAQ:BJRI) Short Interest Update

BJ’s Restaurants, Inc. (NASDAQ:BJRI) was the target of a large decline in short interest in 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 trading volume, of 330,385 shares, the short-interest ratio is presently 3.9 days. Currently, 6.4% of the shares of the company are sold short. Currently, 6.4% of the shares of the company are sold short. Based on an average daily trading volume, of 330,385 shares, the short-interest ratio is presently 3.9 days.

Wall Street Analysts Forecast Growth

BJRI has been the subject of several recent research reports. Wall Street Zen cut BJ’s Restaurants from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of BJ’s Restaurants in a report on Monday, December 29th. Jefferies Financial Group reiterated a “buy” rating and set a $50.00 price target on shares of BJ’s Restaurants in a research report on Friday, October 31st. Barclays raised their price objective on shares of BJ’s Restaurants from $30.00 to $39.00 and gave the company an “underweight” rating in a research report on Wednesday, January 7th. Finally, Benchmark reaffirmed a “buy” rating on shares of BJ’s Restaurants in a report on Tuesday, January 20th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, BJ’s Restaurants currently has an average rating of “Hold” and a consensus price target of $41.43.

Insiders Place Their Bets

In other BJ’s Restaurants news, EVP Brian S. Krakower sold 8,017 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $39.61, for a total transaction of $317,553.37. Following the sale, the executive vice president owned 4,409 shares of the company’s stock, valued at $174,640.49. The trade was a 64.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. American Century Companies Inc. increased its stake 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 worth $36,777,000 after purchasing an additional 51,062 shares during the period. Hussman Strategic Advisors Inc. bought a new stake in shares of BJ’s Restaurants during the 3rd quarter valued at about $1,282,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of BJ’s Restaurants by 233.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 628,445 shares of the restaurant operator’s stock worth $28,029,000 after acquiring an additional 440,078 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in BJ’s Restaurants in the third quarter worth $2,501,000. Finally, Geode Capital Management LLC grew its position in shares of BJ’s Restaurants by 5.2% in the 2nd quarter. Geode Capital Management LLC now owns 523,687 shares of the restaurant operator’s stock worth $23,359,000 after buying an additional 25,892 shares during the period. 99.95% of the stock is owned by institutional investors.

BJ’s Restaurants Price Performance

Shares of NASDAQ BJRI traded up $0.22 during mid-day trading on Friday, reaching $40.54. 318,962 shares of the company were exchanged, compared to its average volume of 287,567. BJ’s Restaurants has a 52 week low of $28.46 and a 52 week high of $47.02. The company’s 50 day moving average price is $42.00 and its 200 day moving average price is $36.50. The stock has a market capitalization of $857.02 million, a PE ratio of 30.25, a PEG ratio of 1.28 and a beta of 1.33. The company has a quick ratio of 0.30, a current ratio of 0.36 and a debt-to-equity ratio of 0.25.

BJ’s Restaurants announced that its Board of Directors has initiated a stock buyback 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 shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

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.