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

Biglari Holdings Inc. (NYSE:BH) saw unusually-high trading volume on Tuesday after an insider bought additional shares in the company. Approximately 5,781 shares were traded 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 stock in a transaction that occurred on Monday, December 16th. The stock was bought at an average cost of $366.99 per share, with a total value of $299,830.83. Following the completion of the purchase, the chief executive officer now directly owns 1,319,993 shares in the company, valued at $484,424,231.07. The trade was a 0.06 % 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 the SEC website. Also, CEO Sardar Biglari purchased 516 shares of the stock in a transaction dated Thursday, December 12th. The stock was acquired at an average cost of $738.70 per share, with a total value of $381,169.20. Following the transaction, the chief executive officer now directly owns 1,319,162 shares in the company, valued at approximately $974,464,969.40. This trade represents a 0.04 % increase in their position. The disclosure for this purchase can be found here.

Analyst Ratings Changes

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

Biglari Stock Performance

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 firm has a market cap of $584.23 million, a price-to-earnings ratio of 1.45 and a beta of 0.81. The firm has a fifty day simple moving average of $196.43 and a two-hundred day simple moving average of $187.51.

Hedge Funds Weigh In On Biglari

Several hedge funds and other institutional investors have recently bought and sold shares of BH. Barclays PLC grew its holdings in Biglari by 78.6% during the third 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. Empowered Funds LLC increased its holdings in shares of Biglari by 4.6% during the 3rd quarter. Empowered Funds LLC now owns 9,118 shares of the restaurant operator’s stock valued at $1,568,000 after purchasing an additional 402 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in shares of 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 purchasing an additional 88 shares during the period. Ritholtz Wealth Management boosted its holdings 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 in the last quarter. Finally, Innealta Capital LLC acquired a new stake in Biglari during the second quarter valued at $25,000. Institutional investors and hedge funds 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.