Noah Elbogen Sells 4,652 Shares of BJ’s Restaurants (NASDAQ:BJRI) Stock

BJ’s Restaurants, Inc. (NASDAQ:BJRI) Director Noah Elbogen sold 4,652 shares of the stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $54.00, for a total value of $251,208.00. Following the transaction, the director directly owned 76,235 shares of the company’s stock, valued at approximately $4,116,690. The trade was a 5.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

BJ’s Restaurants Stock Down 2.4%

Shares of BJRI opened at $53.40 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.31 and a quick ratio of 0.25. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 26.97, a price-to-earnings-growth ratio of 1.77 and a beta of 1.35. BJ’s Restaurants, Inc. has a 1 year low of $28.46 and a 1 year high of $56.21. The business’s 50 day simple moving average is $43.74 and its 200-day simple moving average is $41.15.

BJ’s Restaurants (NASDAQ:BJRI) last posted its earnings results on Tuesday, May 5th. The restaurant operator reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). The business had revenue of $358.12 million during the quarter, compared to analysts’ expectations of $356.97 million. BJ’s Restaurants had a net margin of 3.15% and a return on equity of 13.48%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period last year, the business posted $0.59 earnings per share. As a group, equities analysts expect that BJ’s Restaurants, Inc. will post 2.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BJRI. UBS Group AG raised its position in BJ’s Restaurants by 576.9% during the 3rd quarter. UBS Group AG now owns 1,451,883 shares of the restaurant operator’s stock valued at $44,326,000 after purchasing an additional 1,237,383 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of BJ’s Restaurants by 23.5% in the third quarter. Vanguard Group Inc. now owns 3,362,763 shares of the restaurant operator’s stock valued at $102,665,000 after acquiring an additional 640,648 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in BJ’s Restaurants by 48.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 935,375 shares of the restaurant operator’s stock worth $28,557,000 after acquiring an additional 306,930 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in BJ’s Restaurants during the 2nd quarter worth about $13,380,000. Finally, Balyasny Asset Management L.P. purchased a new position in BJ’s Restaurants during the 4th quarter valued at about $10,863,000. Institutional investors own 99.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BJRI. Benchmark raised their price objective on BJ’s Restaurants from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Piper Sandler lifted their price objective on shares of BJ’s Restaurants from $40.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Weiss Ratings cut shares of BJ’s Restaurants from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. DA Davidson assumed coverage on shares of BJ’s Restaurants in a research note on Friday, March 6th. They set a “neutral” rating and a $38.00 price target for the company. Finally, Barclays cut their price target on shares of BJ’s Restaurants from $42.00 to $38.00 and set an “underweight” rating on the stock in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $42.00.

Key Stories Impacting BJ’s Restaurants

Here are the key news stories impacting BJ’s Restaurants this week:

• Negative Sentiment: Director Lea Anne Ottinger sold 2,792 shares at an average price of $53.50, trimming her stake by 6.57%. BJ’s Restaurants (NASDAQ:BJRI) Director Lea Anne Ottinger Sells 2,792 Shares of Stock
• Negative Sentiment: EVP Gregory S. Lynds sold 6,201 shares at an average price of $55.86, reducing his position by 11.77%. BJ’s Restaurants (NASDAQ:BJRI) EVP Gregory Lynds Sells 6,201 Shares of Stock
• Negative Sentiment: Director Noah A. Elbogen sold 4,652 shares at an average price of $54.00, cutting his ownership by 5.75%. BJ’s Restaurants (NASDAQ:BJRI) Director Noah Elbogen Sells 4,652 Shares of Stock
• Negative Sentiment: EVP Brian S. Krakower sold 7,341 shares at an average price of $55.17, a 60.86% reduction in his holdings. BJ’s Restaurants (NASDAQ:BJRI) EVP Brian Krakower Sells 7,341 Shares
• Negative Sentiment: EVP Kendra D. Miller sold 19,261 shares at an average price of $55.60, trimming her stake by 40.24%. BJ’s Restaurants (NASDAQ:BJRI) EVP Kendra Miller Sells 19,261 Shares of Stock

About BJ’s Restaurants

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.