AdvisorShares Investments LLC Grows 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 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,400 shares of the restaurant operator’s stock after purchasing an additional 16,700 shares during the quarter. AdvisorShares Investments LLC owned 0.09% of BJ’s Restaurants worth $592,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Arrowstreet Capital Limited Partnership raised its position 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 valued at $28,029,000 after purchasing an additional 440,078 shares during the period. Canada Pension Plan Investment Board purchased a new stake in BJ’s Restaurants in the 2nd quarter worth $13,380,000. JCP Investment Management LLC purchased a new stake in BJ’s Restaurants in the 2nd quarter worth $5,575,000. Balyasny Asset Management L.P. bought a new stake in BJ’s Restaurants during the second quarter valued at about $4,771,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of BJ’s Restaurants in the third quarter valued at about $2,501,000. 99.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BJRI has been the subject of several research analyst reports. Wall Street Zen cut BJ’s Restaurants from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Mizuho set a $39.00 price target on BJ’s Restaurants in a report on Friday, January 9th. Benchmark reaffirmed a “buy” rating on shares of BJ’s Restaurants in a report on Tuesday, January 20th. Sanford C. Bernstein reaffirmed an “underweight” rating and set a $30.00 price objective 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 report on Monday, December 29th. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average 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 that occurred on Thursday, December 11th. The stock was sold at an average price of $39.61, for a total transaction of $317,553.37. Following the sale, the executive vice president directly owned 4,409 shares of the company’s stock, valued at $174,640.49. The trade was a 64.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.30% of the stock is owned by insiders.

BJ’s Restaurants Price Performance

BJ’s Restaurants stock opened at $44.03 on Friday. BJ’s Restaurants, Inc. has a 52-week low of $28.46 and a 52-week high of $47.02. The company has a quick ratio of 0.30, a current ratio of 0.36 and a debt-to-equity ratio of 0.25. The firm’s fifty day moving average is $41.54 and its 200 day moving average is $36.38. The company has a market cap of $930.57 million, a price-to-earnings ratio of 32.86, a PEG ratio of 1.39 and a beta of 1.33.

BJ’s Restaurants announced that its board has authorized a stock buyback plan on Thursday, October 30th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the restaurant operator to reacquire up to 11.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board 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.