Biglari (NYSE:BH) Sees Unusually-High Trading Volume After Insider Buying Activity

Biglari Holdings Inc. (NYSE:BH) saw strong trading volume on Monday following insider buying activity. 80,257 shares changed hands during trading, an increase of 239% from the previous session’s volume of 23,670 shares.The stock last traded at $311.6880 and had previously closed at $304.33.

Specifically, CEO Sardar Biglari purchased 1,465 shares of the firm’s stock in a transaction dated Friday, December 5th. The stock was purchased at an average price of $306.90 per share, with a total value of $449,608.50. Following the completion of the purchase, the chief executive officer owned 1,329,807 shares of the company’s stock, valued at approximately $408,117,768.30. The trade was a 0.11% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sardar Biglari purchased 1,139 shares of the stock in a transaction that occurred on Thursday, December 4th. The stock was purchased at an average price of $306.05 per share, with a total value of $348,590.95. Following the acquisition, the chief executive officer directly owned 1,328,342 shares of the company’s stock, valued at $406,539,069.10. This trade represents a 0.09% increase in their position. The SEC filing for this purchase provides additional information. In other news, CEO Sardar Biglari acquired 2,802 shares of Biglari stock in a transaction on Wednesday, December 3rd. The shares were bought at an average cost of $303.32 per share, for a total transaction of $849,902.64. Following the acquisition, the chief executive officer directly owned 1,327,203 shares of the company’s stock, valued at $402,567,213.96. This trade represents a 0.21% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Analysts Set New Price Targets

Separately, Wall Street Zen cut Biglari from a “buy” rating to a “hold” rating in a report on Saturday, November 15th.

Biglari Price Performance

The company has a quick ratio of 2.80, a current ratio of 2.83 and a debt-to-equity ratio of 0.54. The firm has a market cap of $731.58 million, a PE ratio of 28.67 and a beta of 0.82. The stock has a 50 day moving average price of $333.90 and a two-hundred day moving average price of $308.42.

Institutional Investors Weigh In On Biglari

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Alliancebernstein L.P. grew its holdings in shares of Biglari by 7.1% during the third quarter. Alliancebernstein L.P. now owns 1,501 shares of the restaurant operator’s stock valued at $486,000 after buying an additional 100 shares during the last quarter. Occudo Quantitative Strategies LP lifted its position in Biglari by 6.9% during the 3rd quarter. Occudo Quantitative Strategies LP now owns 1,011 shares of the restaurant operator’s stock worth $327,000 after acquiring an additional 65 shares during the period. Two Sigma Investments LP increased its holdings in shares of Biglari by 162.8% in the third quarter. Two Sigma Investments LP now owns 11,563 shares of the restaurant operator’s stock valued at $3,742,000 after purchasing an additional 7,163 shares during the period. Bridgeway Capital Management LLC raised its stake in shares of Biglari by 4.1% in the third quarter. Bridgeway Capital Management LLC now owns 16,944 shares of the restaurant operator’s stock worth $5,484,000 after purchasing an additional 666 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Biglari by 319.8% in the third quarter. Invesco Ltd. now owns 40,443 shares of the restaurant operator’s stock worth $13,089,000 after purchasing an additional 30,810 shares during the last quarter. 74.30% of the stock is currently owned by institutional investors and hedge funds.

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.