BJ’s Restaurants, Inc. (NASDAQ:BJRI) Short Interest Down 20.7% in January

BJ’s Restaurants, Inc. (NASDAQ:BJRI) saw a large drop in short interest in January. As of January 30th, there was short interest totaling 1,294,206 shares, a drop 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 days-to-cover ratio is currently 3.9 days. Approximately 6.4% of the company’s shares are sold short. Approximately 6.4% of the company’s shares are sold short. Based on an average daily trading volume, of 330,385 shares, the days-to-cover ratio is currently 3.9 days.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BJRI. Wall Street Zen downgraded BJ’s Restaurants from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Benchmark reaffirmed a “buy” rating on shares of BJ’s Restaurants in a research note on Tuesday, January 20th. Jefferies Financial Group reissued a “buy” rating and set a $50.00 target price on shares of BJ’s Restaurants in a research report on Friday, October 31st. Barclays boosted their price target on shares of BJ’s Restaurants from $30.00 to $39.00 and gave the company an “underweight” rating in a report on Wednesday, January 7th. Finally, Sanford C. Bernstein reiterated an “underweight” rating and set a $30.00 price objective on shares of BJ’s Restaurants in a research note on Friday, October 31st. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, BJ’s Restaurants has a consensus rating of “Hold” and a consensus target price of $41.43.

BJ’s Restaurants Trading Up 0.5%

NASDAQ:BJRI opened at $40.54 on Monday. BJ’s Restaurants has a 52 week low of $28.46 and a 52 week high of $47.02. The firm has a 50 day moving average of $42.00 and a 200 day moving average of $36.50. 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 stock has a market capitalization of $857.02 million, a price-to-earnings ratio of 30.25, a PEG ratio of 1.28 and a beta of 1.33.

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

Insider Transactions at BJ’s Restaurants

In related 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 value of $317,553.37. Following the completion of the sale, the executive vice president owned 4,409 shares in the company, valued at approximately $174,640.49. The trade was a 64.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 4.90% of the stock is currently owned by company insiders.

Institutional Trading of BJ’s Restaurants

A number of institutional investors have recently bought and sold shares of BJRI. American Century Companies Inc. raised its holdings in shares of BJ’s Restaurants by 6.6% during the second 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 last quarter. Hussman Strategic Advisors Inc. acquired a new stake in BJ’s Restaurants during the 3rd quarter worth about $1,282,000. Arrowstreet Capital Limited Partnership raised its stake 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 buying an additional 440,078 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of BJ’s Restaurants during the 3rd quarter valued at about $2,501,000. Finally, Geode Capital Management LLC lifted its holdings 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 valued at $23,359,000 after buying an additional 25,892 shares during the period. 99.95% of the stock is currently owned by institutional investors and hedge funds.

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.