market folly

Hedge fund Luxor Capital has filed a 13D on shares of BJ's Restaurants (BJRI) indicating they own around 9.7% of the company with over 2.7 million shares.  This is a new position for the hedge fund as they did not report a stake at the end of 2013.

The filing was required due to activity on February 28th and the fine print of the filing indicates they're nominating five individuals to the board of directors.

A recent transaction breakdown shows that Luxor was out buying BJRI shares throughout January between $28.xx and $31.xx.

Per Google Finance, BJ's Restaurants "owns and operates restaurants.  The company's restaurants operate under the BJ's Restaurant & Brewery BJ's Restaurant & Brewhouse, BJ's Pizza & Grill, or BJ's Grill names. The Company's menu features its BJ's deep-dish pizza, its hand-tossed style pizza, its craft beers and other beers, as well as a selection of appetizers, entrees, pastas, sandwiches, specialty salads and desserts, including its Pizookie dessert. The Company's BJ's Restaurant & Brewery restaurants feature on-premise brewing facilities where BJ's craft beers are produced for some of its restaurants."