Biglari (NYSE:BH) Shares Down 6.3% – Here’s What Happened

Biglari Holdings Inc. (NYSE:BH)’s stock price traded down 6.3% during mid-day trading on Tuesday . The company traded as low as $229.74 and last traded at $232.53. 11,079 shares were traded during mid-day trading, a decline of 28% from the average session volume of 15,378 shares. The stock had previously closed at $248.17.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Biglari from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 24th.

Biglari Trading Down 3.0 %

The firm has a market cap of $522.09 million, a PE ratio of 1.30 and a beta of 0.73. The company’s fifty day moving average price is $222.18 and its two-hundred day moving average price is $194.42. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.17.

Insider Activity at Biglari

In other news, CEO Sardar Biglari purchased 4,663 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were acquired at an average price of $328.48 per share, for a total transaction of $1,531,702.24. Following the acquisition, the chief executive officer now directly owns 1,292,670 shares in the company, valued at approximately $424,616,241.60. The trade was a 0.36 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have acquired a total of 21,977 shares of company stock worth $6,342,966 over the last three months. 71.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Biglari

Hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its holdings in shares of Biglari by 48.8% during the third quarter. JPMorgan Chase & Co. now owns 845 shares of the restaurant operator’s stock worth $145,000 after buying an additional 277 shares in the last quarter. Barclays PLC grew its stake in Biglari by 78.6% in the 3rd quarter. Barclays PLC now owns 1,974 shares of the restaurant operator’s stock worth $340,000 after acquiring an additional 869 shares during the period. Los Angeles Capital Management LLC raised its holdings in 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 acquiring an additional 88 shares during the last quarter. Bank of New York Mellon Corp lifted its stake 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 purchasing an additional 130 shares during the period. Finally, Empowered Funds LLC boosted its holdings in shares of Biglari by 4.6% during 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 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.