Meros Investment Management LP Invests $8.72 Million in BJ’s Restaurants, Inc. $BJRI

Meros Investment Management LP bought a new position in shares of BJ’s Restaurants, Inc. (NASDAQ:BJRI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 143,493 shares of the restaurant operator’s stock, valued at approximately $8,715,047. BJ’s Restaurants makes up 0.0% of Meros Investment Management LP’s holdings, making the stock its 10th biggest position. Meros Investment Management LP owned 0.67% of BJ’s Restaurants as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. US Bancorp DE boosted its position in BJ’s Restaurants by 14.5% in the 3rd quarter. US Bancorp DE now owns 3,305 shares of the restaurant operator’s stock valued at $101,000 after buying an additional 418 shares during the last quarter. CWM LLC boosted its position in BJ’s Restaurants by 187.7% in the fourth quarter. CWM LLC now owns 699 shares of the restaurant operator’s stock valued at $28,000 after buying an additional 456 shares in the last quarter. Franklin Resources Inc. grew its position in shares of BJ’s Restaurants by 4.3% during the 4th quarter. Franklin Resources Inc. now owns 11,904 shares of the restaurant operator’s stock worth $469,000 after buying an additional 494 shares during the period. Bard Associates Inc. acquired a new stake in BJ’s Restaurants in the 2nd quarter valued at $30,000. Finally, Diversified Trust Co increased its stake in shares of BJ’s Restaurants by 8.6% during the first quarter. Diversified Trust Co now owns 6,524 shares of the restaurant operator’s stock worth $229,000 after purchasing an additional 517 shares during the period. Hedge funds and other institutional investors own 99.95% of the company’s stock.

BJ’s Restaurants Stock Up 0.9%

Shares of NASDAQ BJRI traded up $0.56 during trading hours on Friday, hitting $64.26. The company had a trading volume of 193,009 shares, compared to its average volume of 420,460. The company has a quick ratio of 0.22, a current ratio of 0.29 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $1.37 billion, a P/E ratio of 34.36, a price-to-earnings-growth ratio of 2.01 and a beta of 1.32. BJ’s Restaurants, Inc. has a 1-year low of $28.46 and a 1-year high of $74.60. The firm’s 50 day moving average is $64.15 and its 200-day moving average is $48.76.

BJ’s Restaurants (NASDAQ:BJRI) last issued its earnings results on Thursday, July 30th. The restaurant operator reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. The business had revenue of $388.89 million during the quarter, compared to analyst estimates of $377.07 million. BJ’s Restaurants had a return on equity of 12.93% and a net margin of 2.86%.The firm’s revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.97 EPS. On average, analysts expect that BJ’s Restaurants, Inc. will post 2.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Weiss Ratings raised shares of BJ’s Restaurants from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. Zacks Research upgraded BJ’s Restaurants from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. DA Davidson set a $65.00 price objective on shares of BJ’s Restaurants in a report on Friday, July 31st. Piper Sandler lifted their price target on BJ’s Restaurants from $40.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Finally, Barclays cut their price target on BJ’s Restaurants from $42.00 to $38.00 and set an “underweight” rating on the stock in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $56.88.

Insider Transactions at BJ’s Restaurants

In related news, EVP Kendra D. Miller sold 2,978 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $69.80, for a total value of $207,864.40. Following the sale, the executive vice president owned 25,621 shares of the company’s stock, valued at $1,788,345.80. This trade represents a 10.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gregory S. Lynds sold 21,704 shares of the business’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $68.81, for a total value of $1,493,452.24. Following the sale, the executive vice president owned 24,770 shares in the company, valued at approximately $1,704,423.70. The trade was a 46.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 124,077 shares of company stock worth $7,676,952. 2.40% of the stock is currently owned by insiders.

BJ’s Restaurants 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.