Great Lakes Advisors LLC Buys New Position in BJ’s Restaurants, Inc. (NASDAQ:BJRI)

Posted by on Aug 20th, 2023

Great Lakes Advisors LLC purchased a new position in BJ’s Restaurants, Inc. (NASDAQ:BJRI – Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 131,478 shares of the restaurant operator’s stock, valued at approximately $3,831,000. Great Lakes Advisors LLC owned 0.56% of BJ’s Restaurants as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of BJRI. Y Intercept Hong Kong Ltd bought a new position in BJ’s Restaurants during the first quarter valued at about $392,000. Versor Investments LP acquired a new stake in shares of BJ’s Restaurants during the 1st quarter valued at about $449,000. MQS Management LLC acquired a new position in BJ’s Restaurants in the first quarter worth about $289,000. Summit Global Investments bought a new position in BJ’s Restaurants during the first quarter worth about $230,000. Finally, Emerald Mutual Fund Advisers Trust boosted its holdings in BJ’s Restaurants by 12.2% during the first quarter. Emerald Mutual Fund Advisers Trust now owns 460,529 shares of the restaurant operator’s stock valued at $13,420,000 after purchasing an additional 50,209 shares in the last quarter. 94.21% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other BJ’s Restaurants news, CEO Gregory Levin bought 1,500 shares of BJ’s Restaurants stock in a transaction dated Wednesday, August 9th. The shares were bought at an average price of $33.05 per share, with a total value of $49,575.00. Following the purchase, the chief executive officer now owns 92,957 shares of the company’s stock, valued at $3,072,228.85. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 4.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BJRI. Wedbush increased their target price on BJ’s Restaurants from $38.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, July 28th. StockNews.com downgraded shares of BJ’s Restaurants from a “buy” rating to a “hold” rating in a research note on Wednesday. Oppenheimer increased their target price on shares of BJ’s Restaurants from $40.00 to $43.00 in a research report on Friday, July 28th. CL King boosted their price target on shares of BJ’s Restaurants from $40.00 to $42.00 in a research report on Tuesday, July 18th. Finally, Barclays raised their price objective on shares of BJ’s Restaurants from $27.00 to $31.00 and gave the stock an “underweight” rating in a report on Friday, July 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $37.64.

Read Our Latest Stock Analysis on BJRI

BJ’s Restaurants Price Performance

BJRI opened at $30.22 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.36 and a quick ratio of 0.29. The stock has a market capitalization of $712.29 million, a P/E ratio of 40.29, a price-to-earnings-growth ratio of 2.31 and a beta of 1.95. The company’s 50 day simple moving average is $32.99 and its 200-day simple moving average is $31.62. BJ’s Restaurants, Inc. has a one year low of $22.93 and a one year high of $37.83.

BJ’s Restaurants (NASDAQ:BJRI – Get Free Report) last announced its quarterly earnings data on Thursday, July 27th. The restaurant operator reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.18. The firm had revenue of $349.67 million for the quarter, compared to analyst estimates of $350.05 million. BJ’s Restaurants had a return on equity of 3.89% and a net margin of 1.32%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company earned $0.10 EPS. Sell-side analysts anticipate that BJ’s Restaurants, Inc. will post 0.89 earnings per share for the current fiscal year.

About BJ’s Restaurants

(Free Report)

BJ's Restaurants, Inc owns and operates casual dining restaurants in the United States. The company's restaurants offer pizzas, craft and other beers, appetizers, entrées, pastas, sandwiches, specialty salads, and desserts. BJ's Restaurants, Inc was founded in 1978 and is based in Huntington Beach, California.

Featured Articles

Want to see what other hedge funds are holding BJRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BJ’s Restaurants, Inc. (NASDAQ:BJRI – Free Report).

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

Receive News & Ratings for BJ's Restaurants Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BJ's Restaurants and related companies with MarketBeat.com's FREE daily email newsletter.