The BJ’s Restaurants Sees Unusually High Options Volume (NASDAQ:BJRI)

The BJ’s Restaurants Sees Unusually High Options Volume (NASDAQ:BJRI)

In other BJ’s Restaurants news, insider Alex Puchner sold 4,000 shares of BJ’s Restaurants stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $44.75, for a total transaction of $179,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Kevin E. Mayer sold 4,468 shares of BJ’s Restaurants stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $45.46, for a total transaction of $203,115.28. Following the transaction, the vice president now owns 5,817 shares of the company’s stock, valued at approximately $264,440.82. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,793 shares of company stock valued at $1,035,319. 6.80% of the stock is currently owned by company insiders.

BJ’s Restaurants, Inc. (NASDAQ:BJRI) saw unusually large options trading activity on Wednesday. Investors purchased 10,037 put options on the company. This represents an increase of approximately 1,026% compared to the average daily volume of 891 put options.

A number of hedge funds have recently added to or reduced their stakes in the stock. Kernodle & Katon Asset Management Group LLC acquired a new stake in BJ’s Restaurants during the first quarter valued at $102,000. State of Alaska Department of Revenue raised its stake in BJ’s Restaurants by 77.9% in the second quarter. State of Alaska Department of Revenue now owns 3,557 shares of the restaurant operator’s stock valued at $132,000 after buying an additional 1,557 shares during the period. Victory Capital Management Inc. raised its stake in BJ’s Restaurants by 38.2% in the first quarter. Victory Capital Management Inc. now owns 3,734 shares of the restaurant operator’s stock valued at $151,000 after buying an additional 1,033 shares during the period. Mason Street Advisors LLC raised its stake in BJ’s Restaurants by 0.6% in the first quarter. Mason Street Advisors LLC now owns 4,242 shares of the restaurant operator’s stock valued at $171,000 after buying an additional 24 shares during the period. Finally, Fox Run Management L.L.C. acquired a new stake in BJ’s Restaurants during the first quarter valued at $234,000. 94.80% of the stock is currently owned by institutional investors and hedge funds.

BJ’s Restaurants (NASDAQ:BJRI) traded down 1.44% during midday trading on Wednesday, reaching $34.25. 228,510 shares of the company’s stock traded hands. The stock has a market capitalization of $738.36 million, a price-to-earnings ratio of 20.18 and a beta of 1.08. The company’s 50-day moving average price is $36.48 and its 200 day moving average price is $39.27. BJ’s Restaurants has a 52 week low of $30.40 and a 52 week high of $47.55.

BJ’s Restaurants (NASDAQ:BJRI) last released its earnings results on Thursday, July 27th. The restaurant operator reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by $0.02. The company had revenue of $265.80 million for the quarter, compared to analyst estimates of $269.48 million. BJ’s Restaurants had a return on equity of 14.51% and a net margin of 3.82%. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the company posted $0.56 earnings per share. On average, equities research analysts expect that BJ’s Restaurants will post $1.79 earnings per share for the current year.

BJ’s Restaurants announced that its board has authorized a stock repurchase plan on Thursday, April 27th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the restaurant operator to purchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

BJRI has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of BJ’s Restaurants from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. TheStreet lowered shares of BJ’s Restaurants from a “b” rating to a “c+” rating in a research report on Friday, July 7th. Wedbush reissued a “neutral” rating and issued a $45.00 price objective (up previously from $41.00) on shares of BJ’s Restaurants in a research report on Friday, April 28th. Canaccord Genuity reissued a “hold” rating and issued a $45.00 price objective on shares of BJ’s Restaurants in a research report on Friday, April 28th. Finally, BidaskClub lowered shares of BJ’s Restaurants from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $39.33.

BJ’s Restaurants Company Profile

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.

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