Biglari (NYSE:BH) Reaches New 1-Year High - Here's What Happened

Key Points

• Biglari Holdings Inc. shares reached a new 52-week high at $362.85 during trading, with a recent last trade at $360.72.
• Wall Street analysts downgraded Biglari from a "strong-buy" to a "buy" rating on September 13th, signaling a more cautious outlook.
• In the first quarter, institutional investors significantly increased their holdings in Biglari, with 74.30% of the stock now owned by these investors.

Biglari Holdings Inc. (NYSE:BH - Get Free Report) shares hit a new 52-week high during trading on Monday . The company traded as high as $362.85 and last traded at $360.72, with a volume of 13312 shares traded. The stock had previously closed at $356.16.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut Biglari from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 13th.

Biglari Stock Performance

The company has a current ratio of 1.38, a quick ratio of 1.35 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $838.86 million, a PE ratio of 2.51 and a beta of 0.80. The business's 50 day moving average is $317.93 and its 200 day moving average is $280.89.

Biglari (NYSE:BH - Get Free Report) last issued its earnings results on Friday, August 8th. The restaurant operator reported $9.17 earnings per share for the quarter. The business had revenue of $100.62 million during the quarter. Biglari had a return on equity of 5.28% and a net margin of 10.48%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Cerity Partners LLC acquired a new position in shares of Biglari in the first quarter valued at about $453,000. GAMMA Investing LLC grew its holdings in Biglari by 17,220.0% during the first quarter. GAMMA Investing LLC now owns 866 shares of the restaurant operator's stock worth $188,000 after acquiring an additional 861 shares during the period. Strs Ohio acquired a new stake in Biglari during the first quarter worth about $498,000. Deutsche Bank AG grew its holdings in Biglari by 111.6% during the first quarter. Deutsche Bank AG now owns 364 shares of the restaurant operator's stock worth $79,000 after acquiring an additional 192 shares during the period. Finally, Bartlett & CO. Wealth Management LLC acquired a new stake in Biglari during the first quarter worth about $109,000. 74.30% of the stock is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.