Jupiter Asset Management Ltd. Acquires New Shares in BJ’s Restaurants, Inc. $BJRI

Jupiter Asset Management Ltd. bought a new stake in shares of BJ’s Restaurants, Inc. (NASDAQ:BJRI) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 82,354 shares of the restaurant operator’s stock, valued at approximately $2,514,000.

A number of other large investors have also recently made changes to their positions in BJRI. Ameritas Investment Partners Inc. grew its position in shares of BJ’s Restaurants by 18.0% in the second quarter. Ameritas Investment Partners Inc. now owns 2,189 shares of the restaurant operator’s stock valued at $98,000 after purchasing an additional 334 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in BJ’s Restaurants by 77.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,317 shares of the restaurant operator’s stock worth $103,000 after purchasing an additional 1,012 shares during the period. AdvisorShares Investments LLC purchased a new position in BJ’s Restaurants during the 2nd quarter valued at about $120,000. Tower Research Capital LLC TRC increased its position in shares of BJ’s Restaurants by 356.5% during the second quarter. Tower Research Capital LLC TRC now owns 3,492 shares of the restaurant operator’s stock valued at $156,000 after buying an additional 2,727 shares during the period. Finally, Versor Investments LP boosted its position in shares of BJ’s Restaurants by 23.2% in the third quarter. Versor Investments LP now owns 6,900 shares of the restaurant operator’s stock valued at $211,000 after acquiring an additional 1,300 shares during the period. 99.95% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Brian S. Krakower sold 8,017 shares of the company’s stock in a transaction dated Thursday, December 11th. The stock was 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. This represents a 64.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.30% of the company’s stock.

BJ’s Restaurants Stock Down 1.7%

Shares of NASDAQ:BJRI opened at $41.20 on Friday. The firm has a market capitalization of $870.97 million, a PE ratio of 30.75, a price-to-earnings-growth ratio of 1.30 and a beta of 1.33. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.30 and a current ratio of 0.36. BJ’s Restaurants, Inc. has a 52-week low of $28.46 and a 52-week high of $47.02. The firm has a fifty day moving average of $42.30 and a 200 day moving average of $36.73.

BJ’s Restaurants declared that its Board of Directors has approved a share repurchase plan on Thursday, October 30th that allows the company to buyback $75.00 million in outstanding shares. This buyback authorization allows the restaurant operator to purchase up to 11.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

BJRI has been the topic of a number of analyst reports. Wall Street Zen lowered shares of BJ’s Restaurants from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Jefferies Financial Group restated a “buy” rating and set a $50.00 price target on shares of BJ’s Restaurants in a research report on Friday, October 31st. Benchmark reaffirmed a “buy” rating on shares of BJ’s Restaurants in a report on Tuesday, January 20th. Weiss Ratings reissued a “hold (c-)” rating on shares of BJ’s Restaurants in a research note on Monday, December 29th. Finally, Sanford C. Bernstein restated an “underweight” rating and issued a $30.00 target price on shares of BJ’s Restaurants in a research note on Friday, October 31st. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $40.83.

BJ’s Restaurants 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.