BJ’s Restaurants Activist Takes 9.5% Stake, Calls for Change (1)

BJ’s Restaurants should explore strategic alternatives, an activist said after reporting a 9.5% stake in casual dining company.

Fund 1 Investments LLC reported to the SEC in a 13D filing that it owns a stake equivalent to $69.9m

Citigroup analyst Jon Tower writes that he has a hard time comprehending what good this will do for the company

“We struggle to understand how the activist’s call for the company to explore strategic alternatives will unearth new meaningful profit gains for BJRI and/or potential strategic buyers who are not already well aware of the brand,” he writes

BJ’s sales and cost ...