BJ’s Restaurants, Inc. (NASDAQ:BJRI) Short Interest Update

BJ’s Restaurants, Inc. (NASDAQ:BJRI) was the recipient of a significant 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 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 volume of 330,385 shares, the days-to-cover ratio is currently 3.9 days.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BJRI shares. Wall Street Zen downgraded BJ’s Restaurants from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Barclays lifted their price objective on shares of BJ’s Restaurants from $30.00 to $39.00 and gave the company an “underweight” rating in a research note on Wednesday, January 7th. Weiss Ratings reissued a “hold (c-)” rating on shares of BJ’s Restaurants in a research note on Monday, December 29th. Mizuho set a $39.00 price target on shares of BJ’s Restaurants in a research note on Friday, January 9th. Finally, Benchmark reiterated a “buy” rating on shares of BJ’s Restaurants in a report on Tuesday, January 20th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $41.43.

BJ’s Restaurants Stock Up 0.5%

Shares of NASDAQ:BJRI traded up $0.22 during mid-day trading on Friday, hitting $40.54. 318,962 shares of the company traded hands, compared to its average volume of 287,567. The stock has a 50-day moving average price of $42.00 and a two-hundred day moving average price of $36.50. BJ’s Restaurants has a 12-month low of $28.46 and a 12-month high of $47.02. The stock has a market cap of $857.02 million, a P/E ratio of 30.25, a P/E/G ratio of 1.28 and a beta of 1.33. The company has a current ratio of 0.36, a quick ratio of 0.30 and a debt-to-equity ratio of 0.25.

BJ’s Restaurants announced that its board has approved a stock buyback plan on Thursday, October 30th that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the restaurant operator to reacquire up to 11.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other BJ’s Restaurants news, EVP Brian S. Krakower sold 8,017 shares of BJ’s Restaurants stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $39.61, for a total transaction of $317,553.37. Following the transaction, the executive vice president directly owned 4,409 shares of the company’s stock, valued at approximately $174,640.49. The trade was a 64.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BJ’s Restaurants

Several institutional investors have recently modified their holdings of BJRI. American Century Companies Inc. increased its holdings in BJ’s Restaurants by 6.6% in the 2nd quarter. American Century Companies Inc. now owns 824,597 shares of the restaurant operator’s stock worth $36,777,000 after acquiring an additional 51,062 shares during the last quarter. Hussman Strategic Advisors Inc. purchased a new stake in BJ’s Restaurants during the third quarter valued at about $1,282,000. Arrowstreet Capital Limited Partnership boosted its position in BJ’s Restaurants by 233.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 628,445 shares of the restaurant operator’s stock worth $28,029,000 after purchasing an additional 440,078 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of BJ’s Restaurants in the third quarter worth about $2,501,000. Finally, Geode Capital Management LLC raised its position in shares of BJ’s Restaurants by 5.2% in the second quarter. Geode Capital Management LLC now owns 523,687 shares of the restaurant operator’s stock valued at $23,359,000 after purchasing an additional 25,892 shares during the period. 99.95% of the stock is owned by institutional investors.

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.