BJ’s Restaurants Inc (BJRI): Luxor Capital Group Slightly Lowers Its Stake

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Christian Leone‘s Luxor Capital Group has reported owning 2.41 million shares of BJ’s Restaurants Inc (NASDAQ:BJRI), which account for 9.9% of the company’s outstanding common stock, through a 13G filing with the SEC. The fund’s current stake has been slightly reduced from the 2.50 million shares that Luxor Capital Group previously held, according to its 13F filing for the reporting period of June 30.

BJ’s Restaurants Inc (NASDAQ:BJRI), as the name suggests, is a restaurant chain, which runs BJ’s Restaurant & Brewhouse, BJ’s Grill Restaurant, BJ’s Restaurant & Brewery, and BJ’s Pizza & Grill. A few days ago, the company opened a second restaurant in the state of New York, which was also the 12th restaurant it has opened this year. Over the past 12 months, the company’s stock has lost 16.57%. For the second quarter of 2016, BJ’s Restaurants disclosed earnings per share of $0.56 and revenue of $250.33 million, both of which were below analysts’ estimates of $0.57 and $253.23 million, respectively. Recently, Wedbush downgraded its rating on BJ’s Restaurant’s to ‘Neutral’ from ‘Outperform’, and lowered its price target on the stock to $40 from $47, while Robert W. Baird reiterated its ‘Neutral’ rating on the stock.

Christian Leone

There were 20 investors in our database long BJ’s Restaurants Inc (NASDAQ:BJRI) at the end of June, down by one from the end of March. Among the bullish investors were Jim Simons’ Renaissance Technologies, with a position valued at $23.49 million, Dmitry Balyasny’s Balyasny Asset Management, which held a position worth $20.13 million, Paul Marshall and Ian Wace’s Marshall Wace LLP, Ken Griffin’s Citadel Investment Group, and Richard C. Patton’s Courage Capital.

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You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Luxor Capital Partners 0 1,246,439 0 1,246,439 1,246,439 5.2%
Luxor Wavefront 0 205,175 0 205,175 205,175 Less than 1%
Luxor Capital Partners Offshore Master Fund 0 963,099 0 963,099 963,099 4.0%
Luxor Capital Partners Offshore, Ltd 0 963,099 0 963,099 963,099 4.0%
LCG Holdings 0 2,414,713 0 2,414,713 2,414,713 9.9%
Luxor Capital Group 0 2,414,713 0 2,414,713 2,414,713 9.9%
Luxor Management 0 2,414,713 0 2,414,713 2,414,713 9.9%
Christian Leone 0 2,414,713 0 2,414,713 2,414,713 9.9%

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Page 1 of 18 – SEC Filing

(RULE 13d – 102)
(Amendment No. )*
BJ’s Restaurants, Inc.
(Name of Issuer)
Common stock, no par value
(Title of Class of Securities)
09180C 10 6
(CUSIP Number)
September 29, 2016
(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
[ ] Rule 13d-1(b)
[x] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

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