Biglari (NYSE:BH) Shares Pass Above 200-Day Moving Average – Here’s Why

Biglari Holdings Inc. (NYSE:BH) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $191.41 and traded as high as $262.69. Biglari shares last traded at $254.29, with a volume of 24,299 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Biglari from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 24th.

Biglari Price Performance

The stock has a market cap of $568.91 million, a price-to-earnings ratio of 1.42 and a beta of 0.81. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.17. The company’s fifty day moving average is $214.99 and its two-hundred day moving average is $192.37.

Insider Activity at Biglari

In other news, CEO Sardar Biglari bought 4,663 shares of Biglari stock in a transaction that occurred on Thursday, November 14th. The shares were purchased at an average price of $328.48 per share, with a total value of $1,531,702.24. Following the completion of the acquisition, the chief executive officer now directly owns 1,292,670 shares in the company, valued at $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 can be accessed through this link. Over the last quarter, insiders acquired 21,977 shares of company stock worth $6,342,966. Corporate insiders own 71.40% of the company’s stock.

Institutional Investors Weigh In On Biglari

A number of large investors have recently modified their holdings of the company. Barclays PLC lifted its position in shares of Biglari by 78.6% during the 3rd quarter. Barclays PLC now owns 1,974 shares of the restaurant operator’s stock worth $340,000 after buying an additional 869 shares during the last quarter. Ritholtz Wealth Management raised its stake in Biglari by 40.4% during the 2nd quarter. Ritholtz Wealth Management now owns 1,532 shares of the restaurant operator’s stock worth $296,000 after acquiring an additional 441 shares in the last quarter. Empowered Funds LLC lifted its position in Biglari by 4.6% in the third quarter. Empowered Funds LLC now owns 9,118 shares of the restaurant operator’s stock valued at $1,568,000 after acquiring an additional 402 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Biglari by 48.8% in the third quarter. JPMorgan Chase & Co. now owns 845 shares of the restaurant operator’s stock valued at $145,000 after acquiring an additional 277 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Biglari by 3.4% in the second quarter. Bank of New York Mellon Corp now owns 3,951 shares of the restaurant operator’s stock valued at $764,000 after acquiring an additional 130 shares in the last quarter. 74.30% of the stock is owned by hedge funds and other institutional investors.

About Biglari

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.