Biglari (NYSE:BH) Shares Gap Up – Here’s Why

Biglari Holdings Inc. (NYSE:BH) shares gapped up before the market opened on Friday . The stock had previously closed at $224.18, but opened at $232.28. Biglari shares last traded at $230.00, with a volume of 220 shares trading hands.

Wall Street Analysts Forecast Growth

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

Biglari Trading Up 0.4 %

The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.44 and a current ratio of 1.47. The company has a market capitalization of $525.76 million, a price-to-earnings ratio of 1.30 and a beta of 0.81. The business’s 50 day moving average price is $185.95 and its two-hundred day moving average price is $185.47.

Insider Buying and Selling

In related news, CEO Sardar Biglari purchased 4,994 shares of the stock in a transaction on Tuesday, November 12th. The shares were bought at an average price of $247.33 per share, for a total transaction of $1,235,166.02. Following the completion of the acquisition, the chief executive officer now directly owns 1,281,750 shares in the company, valued at approximately $317,015,227.50. This trade represents a 0.39 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have purchased 20,644 shares of company stock valued at $5,661,966. 71.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Biglari

A number of hedge funds have recently bought and sold shares of the company. 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 valued at $764,000 after acquiring an additional 130 shares in the last quarter. Innealta Capital LLC acquired a new position in Biglari in the second quarter valued at about $25,000. Ritholtz Wealth Management grew 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 worth $296,000 after buying an additional 441 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in shares of Biglari by 2.0% in the third quarter. Los Angeles Capital Management LLC now owns 4,418 shares of the restaurant operator’s stock valued at $760,000 after acquiring an additional 88 shares during the last quarter. Finally, Empowered Funds LLC boosted its stake in Biglari by 4.6% in the third quarter. Empowered Funds LLC now owns 9,118 shares of the restaurant operator’s stock worth $1,568,000 after purchasing an additional 402 shares in the last quarter. 74.30% of the stock is currently owned by institutional investors.

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.