Biglari (NYSE:BH) Shares Gap Down - Here's What Happened

Key Points

• Biglari shares opened lower on Monday, gapping down from Friday’s close of $394.70 to an open of $376.56 before trading around $390.47. Volume was light at 1,382 shares.
• Analysts and recent earnings remain a mixed backdrop for the stock. Wall Street Zen upgraded Biglari from sell to hold, but the company recently reported a steep quarterly loss of $55.81 per share on revenue of $97.48 million.
• Insider selling continued as major shareholder Sardar Biglari sold 132,421 shares in early July, trimming his stake by 3.51%. Despite that, insiders still own 68.53% of the company and institutions hold 74.30% of the stock.

Biglari Holdings Inc. (NYSE:BH - Get Free Report) shares gapped down prior to trading on Monday . The stock had previously closed at $394.70, but opened at $376.56. Biglari shares last traded at $390.4650, with a volume of 1,382 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Biglari from a "sell" rating to a "hold" rating in a report on Sunday, May 17th.

Biglari Price Performance

The business has a fifty day moving average of $325.62 and a 200-day moving average of $348.04. The firm has a market cap of $881.48 million, a PE ratio of -5.28 and a beta of 0.63. The company has a current ratio of 2.47, a quick ratio of 2.44 and a debt-to-equity ratio of 0.61.

Biglari (NYSE:BH - Get Free Report) last issued its earnings results on Friday, May 8th. The restaurant operator reported ($55.81) EPS for the quarter. Biglari had a negative return on equity of 1.20% and a negative net margin of 4.71%.The company had revenue of $97.48 million during the quarter.

Insider Activity at Biglari

In other news, major shareholder Sardar Biglari sold 132,421 shares of the business's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $17.27, for a total transaction of $2,286,910.67. Following the completion of the transaction, the insider directly owned 3,644,979 shares in the company, valued at $62,948,787.33. The trade was a 3.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have purchased 54,952 shares of company stock valued at $14,098,396 and have sold 364,546 shares valued at $6,163,240. Company insiders own 68.53% of the company's stock.

Hedge Funds Weigh In On Biglari

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its position in shares of Biglari by 20.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 32,656 shares of the restaurant operator's stock valued at $10,569,000 after acquiring an additional 5,650 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Biglari during the first quarter worth about $1,404,000. SG Americas Securities LLC bought a new position in shares of Biglari in the first quarter worth approximately $500,000. Strs Ohio increased its position in shares of Biglari by 5.6% in the first quarter. Strs Ohio now owns 1,900 shares of the restaurant operator's stock worth $626,000 after purchasing an additional 100 shares during the last quarter. Finally, Jones Financial Companies Lllp purchased a new stake in Biglari in the first quarter valued at approximately $64,000. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

About Biglari

Biglari Holdings Inc is a diversified holding company that makes strategic investments and operates businesses across multiple industries, with a primary focus on the restaurant, insurance and media sectors. The company seeks to acquire controlling interests in undervalued enterprises and enhance long-term value through active management and operational improvements. Headquartered in San Antonio, Texas, Biglari Holdings approaches each acquisition with a value-oriented philosophy, emphasizing disciplined capital allocation and hands-on oversight.

In the restaurant segment, Biglari Holdings owns and operates Steak 'n Shake, a national burger and milkshake chain founded in 1934, as well as Western Sizzlin, a buffet and steakhouse brand.

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