Biglari (NYSE:BH) Sees Large Volume Increase After Insider Buying Activity

Shares of Biglari Holdings Inc. (NYSE:BH) saw strong trading volume on Tuesday after an insider bought additional shares in the company. 5,781 shares changed hands during 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 purchased 817 shares of Biglari stock in a transaction that occurred on Monday, December 16th. The stock was bought at an average price of $366.99 per share, with a total value of $299,830.83. Following the completion of the transaction, the chief executive officer now directly owns 1,319,993 shares of the company’s stock, valued at approximately $484,424,231.07. The trade was a 0.06 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sardar Biglari purchased 516 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were 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 owns 1,319,162 shares in the company, valued at approximately $974,464,969.40. The trade was a 0.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Analyst Upgrades and Downgrades

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

Biglari Stock Up 8.7 %

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 has a 50 day simple moving average of $196.43 and a two-hundred day simple moving average of $187.51. The firm has a market capitalization of $584.23 million, a P/E ratio of 1.45 and a beta of 0.81.

Institutional Trading of Biglari

A number of large investors have recently made changes to their positions in BH. Los Angeles Capital Management LLC grew its stake in shares of 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 buying an additional 88 shares during the last quarter. Innealta Capital LLC bought a new position in Biglari in the 2nd quarter valued at $25,000. Bank of New York Mellon Corp grew its position in Biglari by 3.4% in 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 during the last quarter. Empowered Funds LLC increased 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 during the period. Finally, Ritholtz Wealth Management lifted its position in shares of 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 purchasing an additional 441 shares during the last quarter. 74.30% of the stock is currently owned by 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.