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Share Name | Share Symbol | Market | Type |
---|---|---|---|
BJs Restaurants Inc | NASDAQ:BJRI | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.18 | 0.52% | 35.03 | 33.19 | 39.74 | 35.26 | 34.12 | 35.07 | 384,084 | 05:00:09 |
- PW Partners Intends To Take Action To Close The Gap Between BJRI Stock Price And Its Intrinsic Value.
JUPITER, Fla., Feb. 20, 2024 /PRNewswire/ -- PW Partners, LLC and its affiliates ("PW Partners") a value-oriented, activist investor which is a shareholder of BJ's Restaurants Inc. (the "Company", "BJ's"), (Nasdaq: BJRI) sent a letter to Gerald Deitchle, Chairman of BJ's, calling for immediate actions to create long-term value for shareholders.
Dear Mr. Deitchle:
PW Partners Capital Management, LLC ("PW Partners") is an investment group that beneficially owns approximately 4.9% of the outstanding shares of BJ's Restaurants, Inc (the "Company", "BJRI" or "BJ's"), (Nasdaq: BJRI). We have been shareholders for over a decade. Given the historical performance of BJRI's stock price, PW Partners intends to take action to materially improve the operations of BJRI, which we believe will close the gap between BJRI's share price and its intrinsic value. PW Partners believes BJRI's stock price is materially undervalued.
We recommend the Board take the following actions:
Ten years ago, PW Partners engaged and joined the BJ's Board because we felt there was a significant opportunity for margin expansion. We were correct and the stock price increased more than 80% over the following year as management realized material cost efficiencies. We believe the margin expansion opportunity is even greater today while the stock price is much cheaper than it was in 2014.
CC: Stephen Fraidin
Cadwalader, Wickersham & Taft LLP
Sincerely,
Patrick Walsh
Chief Executive Officer
PW Partners, LLC
View original content to download multimedia:https://www.prnewswire.com/news-releases/pw-partners-believes-bjri-stock-is-materially-undervalued-302066583.html
SOURCE PW Partners
Copyright 2024 PR Newswire
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