Biglari (NYSE:BH) Trading 6.2% Higher – Here’s What Happened

Biglari Holdings Inc. (NYSE:BH) shares shot up 6.2% during trading on Thursday . The stock traded as high as $253.87 and last traded at $251.00. 7,788 shares were traded during trading, an increase of 151% from the average session volume of 3,101 shares. The stock had previously closed at $236.41.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Biglari from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th.

Biglari Stock Performance

The company has a market cap of $561.03 million, a P/E ratio of 1.40 and a beta of 0.81. The stock has a 50 day moving average price of $197.78 and a two-hundred day moving average price of $187.85. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.17.

Insiders Place Their Bets

In related news, CEO Sardar Biglari acquired 4,663 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was purchased at an average cost of $328.48 per share, with a total value of $1,531,702.24. Following the acquisition, the chief executive officer now directly owns 1,292,670 shares of the company’s stock, valued at approximately $424,616,241.60. The trade was a 0.36 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought 21,977 shares of company stock worth $6,342,966 in the last 90 days. Company insiders own 71.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BH. Bank of New York Mellon Corp boosted its position in shares of Biglari by 3.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,951 shares of the restaurant operator’s stock worth $764,000 after acquiring an additional 130 shares in the last quarter. Innealta Capital LLC bought a new stake in Biglari during the second quarter worth $25,000. Ritholtz Wealth Management boosted its holdings in shares of Biglari by 40.4% in the 2nd quarter. Ritholtz Wealth Management now owns 1,532 shares of the restaurant operator’s stock valued at $296,000 after purchasing an additional 441 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in shares of Biglari by 2.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 4,418 shares of the restaurant operator’s stock valued at $760,000 after purchasing an additional 88 shares during the last quarter. Finally, Empowered Funds LLC raised its holdings in shares of Biglari by 4.6% during the 3rd quarter. Empowered Funds LLC now owns 9,118 shares of the restaurant operator’s stock worth $1,568,000 after buying an additional 402 shares in the last quarter. Institutional investors own 74.30% of the company’s stock.

Biglari Company Profile

Biglari Holdings Inc, through its subsidiaries, primarily operates and franchises restaurants in the United States. It owns, operates, and franchises restaurants under the Steak n Shake and Western Sizzlin names. The company also engages in underwriting commercial trucking insurance; selling physical damage and non-trucking liability insurance to truckers; and providing property and casualty insurance.