Biglari (NYSE:BH) Shares Down 5.6% – Here’s Why

Biglari Holdings Inc. (NYSE:BH)’s stock price dropped 5.6% during mid-day trading on Wednesday. The company traded as low as $419.18 and last traded at $417.3950. 108,495 shares were traded during trading, a decline of 2% from the average session volume of 110,552 shares. The stock had previously closed at $442.21.

Biglari Trading Down 5.6%

The firm has a market capitalization of $971.28 million, a PE ratio of -3.83 and a beta of 0.64. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.45 and a quick ratio of 2.42. The company has a fifty day moving average of $375.64 and a 200-day moving average of $351.61.

Biglari (NYSE:BH) last issued its quarterly earnings data on Friday, August 7th. The restaurant operator reported $158.17 earnings per share (EPS) for the quarter. The firm had revenue of $108.52 million during the quarter. Biglari had a negative net margin of 7.33% and a positive return on equity of 5.70%.

Insider Activity at Biglari

In related news, major shareholder Sardar Biglari sold 80,000 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $16.90, for a total value of $1,352,000.00. Following the completion of the transaction, the insider owned 66,422 shares of the company’s stock, valued at $1,122,531.80. This represents a 54.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 108,257 shares of company stock valued at $1,824,954 in the last three months. Corporate insiders own 68.53% of the company’s stock.

Hedge Funds Weigh In On Biglari

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd acquired a new position in shares of Biglari in the 1st quarter valued at $1,404,000. SG Americas Securities LLC bought a new position in shares of Biglari in the 1st quarter worth $500,000. Swiss National Bank acquired a new stake in shares of Biglari during the first quarter worth $475,000. Hsbc Holdings PLC acquired a new stake in shares of Biglari during the fourth quarter worth $498,000. Finally, Engineers Gate Manager LP grew its stake in shares of Biglari by 869.7% during the second quarter. Engineers Gate Manager LP now owns 1,920 shares of the restaurant operator’s stock worth $818,000 after purchasing an additional 1,722 shares during the period. 74.30% of the stock is currently owned by institutional investors and hedge funds.

Biglari Company Profile

Biglari Holdings Inc (NYSE: BH) is a diversified holding company led by Chairman and Chief Executive Officer Sardar Biglari. Rather than operating as a single-industry business, the company owns and manages a collection of operating subsidiaries and investments across the restaurant, insurance, media and investment-management industries.

Its restaurant operations include Steak ‘n Shake, a casual dining chain known for steakburgers and hand-dipped milkshakes, and Western Sizzlin, a steakhouse and buffet concept.