BNP Paribas Arbitrage SA Decreases Stake in BJ’s Restaurants, Inc. (BJRI)

BNP Paribas Arbitrage SA reduced its holdings in BJ’s Restaurants, Inc. (NASDAQ:BJRI) by 17.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,556 shares of the restaurant operator’s stock after selling 1,349 shares during the period. BNP Paribas Arbitrage SA’s holdings in BJ’s Restaurants were worth $294,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of BJRI. Teacher Retirement System of Texas purchased a new position in shares of BJ’s Restaurants in the fourth quarter worth about $230,000. Stone Ridge Asset Management LLC purchased a new position in shares of BJ’s Restaurants in the fourth quarter worth about $255,000. MetLife Investment Advisors LLC purchased a new position in shares of BJ’s Restaurants in the fourth quarter worth about $331,000. Federated Investors Inc. PA purchased a new position in shares of BJ’s Restaurants in the first quarter worth about $352,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of BJ’s Restaurants in the fourth quarter worth about $426,000. 94.77% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have commented on BJRI shares. Zacks Investment Research downgraded shares of BJ’s Restaurants from a “buy” rating to a “hold” rating in a research note on Tuesday, March 27th. ValuEngine raised shares of BJ’s Restaurants from a “hold” rating to a “buy” rating in a research note on Monday, April 9th. Wedbush lifted their target price on shares of BJ’s Restaurants from $48.00 to $52.00 in a research note on Friday, April 13th. They noted that the move was a valuation call. Morgan Stanley lifted their target price on shares of BJ’s Restaurants from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Monday, April 16th. Finally, BidaskClub raised shares of BJ’s Restaurants from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, April 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. BJ’s Restaurants presently has a consensus rating of “Hold” and a consensus price target of $49.80.

In other news, Director Noah A. Elbogen sold 5,126 shares of the business’s stock in a transaction that occurred on Wednesday, May 30th. The shares were sold at an average price of $56.00, for a total value of $287,056.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Patrick Walsh sold 248,736 shares of the business’s stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $55.12, for a total transaction of $13,710,328.32. Following the completion of the sale, the director now directly owns 21,171 shares in the company, valued at $1,166,945.52. The disclosure for this sale can be found here. Insiders sold a total of 733,031 shares of company stock worth $40,636,328 over the last three months. Insiders own 6.80% of the company’s stock.

BJ’s Restaurants opened at $60.00 on Monday, Marketbeat Ratings reports. The company has a market capitalization of $1.25 billion, a PE ratio of 42.55, a P/E/G ratio of 1.97 and a beta of 0.68. BJ’s Restaurants, Inc. has a 1 year low of $28.00 and a 1 year high of $62.85. The company has a current ratio of 0.53, a quick ratio of 0.45 and a debt-to-equity ratio of 0.59.

BJ’s Restaurants (NASDAQ:BJRI) last released its quarterly earnings results on Thursday, April 26th. The restaurant operator reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.14. The business had revenue of $278.52 million for the quarter, compared to the consensus estimate of $273.86 million. BJ’s Restaurants had a net margin of 4.77% and a return on equity of 13.81%. The business’s revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.42 EPS. research analysts forecast that BJ’s Restaurants, Inc. will post 2 EPS for the current year.

BJ’s Restaurants Profile

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 June 12, 2018, the company owned and operated 200 casual dining restaurants located in the 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, Rhode Island, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, and Washington.

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Institutional Ownership by Quarter for BJ`s Restaurants (NASDAQ:BJRI)

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