Biglari (NYSE:BH) Sees Strong Trading Volume on Insider Buying Activity

Shares of Biglari Holdings Inc. (NYSE:BH) saw strong trading volume on Tuesday following insider buying activity. 5,781 shares traded hands during mid-day trading, an increase of 92% from the previous session’s volume of 3,004 shares.The stock last traded at $245.80 and had previously closed at $236.24.

Specifically, CEO Sardar Biglari acquired 817 shares of the business’s stock in a transaction on Monday, December 16th. The stock was acquired at an average cost of $366.99 per share, with a total value of $299,830.83. Following the acquisition, the chief executive officer now directly owns 1,319,993 shares in the company, valued at $484,424,231.07. This represents a 0.06 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sardar Biglari bought 516 shares of the stock in a transaction dated Thursday, December 12th. The stock was bought at an average cost of $738.70 per share, for a total transaction of $381,169.20. Following the acquisition, the chief executive officer now directly owns 1,319,162 shares of the company’s stock, valued at approximately $974,464,969.40. This represents a 0.04 % increase in their position. The disclosure for this purchase can be found here.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Biglari from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th.

Biglari Trading Down 7.9 %

The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.44. The stock has a market cap of $538.07 million, a PE ratio of 1.34 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.

Hedge Funds Weigh In On Biglari

Several institutional investors have recently added to or reduced their stakes in BH. Bank of New York Mellon Corp raised its holdings 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 in the second quarter worth $25,000. Ritholtz Wealth Management raised its stake in Biglari by 40.4% during the second 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 lifted its position in Biglari by 2.0% during the third 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 grew its stake in shares of Biglari by 4.6% in 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. Hedge funds and other 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.