Highbridge Capital Management LLC Cuts Position in BJ’s Restaurants, Inc. (BJRI)

Highbridge Capital Management LLC decreased its position in shares of BJ’s Restaurants, Inc. (NASDAQ:BJRI) by 70.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,299 shares of the restaurant operator’s stock after selling 15,273 shares during the period. Highbridge Capital Management LLC’s holdings in BJ’s Restaurants were worth $255,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp boosted its position in shares of BJ’s Restaurants by 8.0% in the first quarter. State Street Corp now owns 519,862 shares of the restaurant operator’s stock worth $21,000,000 after buying an additional 38,722 shares during the period. Bank of America Corp DE boosted its position in shares of BJ’s Restaurants by 279.5% in the first quarter. Bank of America Corp DE now owns 68,854 shares of the restaurant operator’s stock worth $2,781,000 after buying an additional 50,712 shares during the period. Oppenheimer Asset Management Inc. bought a new position in shares of BJ’s Restaurants during the first quarter worth about $388,000. Schwab Charles Investment Management Inc. boosted its position in shares of BJ’s Restaurants by 0.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 134,750 shares of the restaurant operator’s stock worth $5,444,000 after buying an additional 716 shares during the period. Finally, Invictus RG bought a new position in shares of BJ’s Restaurants during the first quarter worth about $328,000. Institutional investors and hedge funds own 93.87% of the company’s stock.

Shares of BJ’s Restaurants, Inc. (NASDAQ BJRI) opened at 35.33 on Wednesday. The company has a market capitalization of $761.54 million, a PE ratio of 19.27 and a beta of 1.10. The company has a 50 day moving average price of $42.24 and a 200 day moving average price of $39.68. BJ’s Restaurants, Inc. has a 1-year low of $32.24 and a 1-year high of $47.55.

BJ’s Restaurants (NASDAQ:BJRI) last issued its earnings results on Thursday, April 27th. The restaurant operator reported $0.42 EPS for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.08. The business had revenue of $257.80 million for the quarter, compared to the consensus estimate of $255.66 million. BJ’s Restaurants had a net margin of 4.29% and a return on equity of 14.86%. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.47 EPS. Equities analysts predict that BJ’s Restaurants, Inc. will post $1.80 EPS for the current fiscal year.

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A number of research analysts have recently issued reports on BJRI shares. BidaskClub cut BJ’s Restaurants from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Wedbush reaffirmed a “hold” rating and set a $45.00 price objective on shares of BJ’s Restaurants in a research note on Thursday, May 25th. Canaccord Genuity reaffirmed a “hold” rating and set a $45.00 price objective on shares of BJ’s Restaurants in a research note on Friday, April 28th. TheStreet cut BJ’s Restaurants from a “b” rating to a “c+” rating in a research note on Friday, July 7th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $35.00 price objective on shares of BJ’s Restaurants in a research note on Thursday, April 27th. Three equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $37.88.

In related news, Director Larry D. Bouts sold 6,879 shares of the stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $45.38, for a total transaction of $312,169.02. Following the completion of the sale, the director now owns 75,225 shares of the company’s stock, valued at $3,413,710.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Kevin E. Mayer sold 4,468 shares of the stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $45.46, for a total transaction of $203,115.28. Following the sale, the vice president now directly owns 5,817 shares of the company’s stock, valued at approximately $264,440.82. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,793 shares of company stock worth $1,035,319. Insiders own 6.80% of the company’s stock.

About BJ’s Restaurants

BJ’s Restaurants, Inc owns and operates restaurants. The Company segment includes casual dining company-owned restaurants. Each of its restaurants is operated either as a BJ’s Restaurant & Brewhouse, a BJ’s Restaurant & Brewery, a BJ’s Pizza & Grill or a BJ’s Grill restaurant. The Company’s restaurants offer craft beers and other beers, as well as a selection of appetizers, entrees, pastas, burgers and sandwiches, specialty salads, and desserts, including its warm pizza cookie dessert, the Pizookie.

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

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