Stock Traders Purchase High Volume of Put Options on BJ’s Restaurants (BJRI)

BJ’s Restaurants, Inc. (NASDAQ:BJRI) was the target of unusually large options trading on Monday. Traders bought 1,875 put options on the company. This represents an increase of approximately 2,579% compared to the typical volume of 70 put options.

Shares of BJRI stock opened at $58.29 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.49 and a quick ratio of 0.41. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 41.34, a P/E/G ratio of 1.65 and a beta of 1.04. BJ’s Restaurants has a 12-month low of $33.10 and a 12-month high of $76.50.

BJ’s Restaurants (NASDAQ:BJRI) last released its quarterly earnings results on Tuesday, October 30th. The restaurant operator reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.16. BJ’s Restaurants had a net margin of 5.80% and a return on equity of 16.70%. The company had revenue of $270.27 million during the quarter, compared to the consensus estimate of $262.89 million. During the same period in the previous year, the business earned $0.15 earnings per share. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. On average, sell-side analysts anticipate that BJ’s Restaurants will post 2.35 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 26th. Stockholders of record on Monday, November 12th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.82%. This is an increase from BJ’s Restaurants’s previous quarterly dividend of $0.11. The ex-dividend date is Thursday, November 8th. BJ’s Restaurants’s payout ratio is presently 34.04%.

BJRI has been the subject of several research reports. Piper Jaffray Companies raised their price objective on shares of BJ’s Restaurants from $60.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, July 27th. BidaskClub downgraded shares of BJ’s Restaurants from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Wells Fargo & Co raised their price objective on shares of BJ’s Restaurants from $58.00 to $59.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 31st. Zacks Investment Research downgraded shares of BJ’s Restaurants from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 17th. Finally, Stifel Nicolaus downgraded shares of BJ’s Restaurants from a “buy” rating to a “hold” rating and cut their price objective for the stock from $75.00 to $70.00 in a research report on Tuesday, October 23rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $66.00.

In related news, VP Kendra D. Miller sold 11,524 shares of BJ’s Restaurants stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $66.17, for a total transaction of $762,543.08. Following the completion of the transaction, the vice president now owns 8,909 shares in the company, valued at $589,508.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Noah A. Elbogen sold 888 shares of BJ’s Restaurants stock in a transaction dated Thursday, September 6th. The stock was sold at an average price of $76.05, for a total value of $67,532.40. The disclosure for this sale can be found here. Insiders have sold 248,718 shares of company stock valued at $18,375,073 in the last quarter. 6.80% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of BJ’s Restaurants by 10.2% in the second quarter. BlackRock Inc. now owns 3,168,825 shares of the restaurant operator’s stock valued at $190,129,000 after buying an additional 292,172 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of BJ’s Restaurants by 98.8% in the third quarter. Acadian Asset Management LLC now owns 765,717 shares of the restaurant operator’s stock valued at $55,285,000 after buying an additional 380,544 shares in the last quarter. Rothschild & Co. Asset Management US Inc. raised its position in shares of BJ’s Restaurants by 2.5% in the third quarter. Rothschild & Co. Asset Management US Inc. now owns 493,839 shares of the restaurant operator’s stock valued at $35,655,000 after buying an additional 12,155 shares in the last quarter. Rothschild Asset Management Inc. acquired a new stake in shares of BJ’s Restaurants in the second quarter valued at approximately $28,901,000. Finally, Hennessy Advisors Inc. acquired a new stake in shares of BJ’s Restaurants in the third quarter valued at approximately $26,635,000.

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About BJ’s Restaurants

BJ's Restaurants, Inc owns and operates casual dining restaurants in the United States. Its restaurants offer pizzas, craft and other beers, appetizers, entrées, pastas, sandwiches, specialty salads, and desserts. As of September 4, 2018, the company owned and operated 201 casual dining restaurants located in the 27 states of Alabama, Arizona, Arkansas, California, Colorado, Florida, Indiana, Kansas, Kentucky, Louisiana, Maryland, Michigan, Nevada, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, Rhode Island, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, and Washington.

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