Biglari (NYSE:BH) Share Price Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• Biglari shares rose above their 200-day moving average of $345.75, reaching $374.50 before last trading at approximately $369.71 on volume of 71,967 shares.
• The company reported quarterly revenue of $108.52 million and EPS of $158.17, but continues to have a negative net margin of 7.33%; its market capitalization is approximately $861.4 million.
• Insider selling increased, with major shareholder Sardar Biglari selling 80,000 shares and insiders selling 194,257 shares worth $3.26 million during the last quarter. Insiders own 68.53% of the company, while institutional investors own 74.30%.

Biglari Holdings Inc. (NYSE:BH - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $345.75 and traded as high as $374.50. Biglari shares last traded at $369.7060, with a volume of 71,967 shares changing hands.

Biglari Price Performance

The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.42 and a current ratio of 2.45. The firm has a market capitalization of $861.41 million, a P/E ratio of -3.38 and a beta of 0.64. The stock's 50 day simple moving average is $373.52 and its 200 day simple moving average is $345.75.

Biglari (NYSE:BH - Get Free Report) last issued its earnings results on Friday, August 7th. The restaurant operator reported $158.17 EPS for the quarter. Biglari had a negative net margin of 7.33% and a positive return on equity of 5.70%. The business had revenue of $108.52 million for the quarter.

Insider Buying and Selling

In other Biglari news, major shareholder Sardar Biglari sold 80,000 shares of the firm's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $16.90, for a total transaction of $1,352,000.00. Following the transaction, the insider directly owned 66,422 shares in the company, valued at $1,122,531.80. This trade represents a 54.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last quarter, insiders sold 194,257 shares of company stock worth $3,264,264. Company insiders own 68.53% of the company's stock.

Hedge Funds Weigh In On Biglari

Hedge funds and other institutional investors have recently made changes to their positions in the company. Y Intercept Hong Kong Ltd bought a new stake in shares of Biglari in the first quarter valued at about $1,404,000. SG Americas Securities LLC purchased a new stake in Biglari in the first quarter worth about $500,000. Swiss National Bank bought a new position in Biglari during the 1st quarter worth about $475,000. Hsbc Holdings PLC bought a new position in Biglari during the 4th quarter worth about $498,000. Finally, Engineers Gate Manager LP increased its position in Biglari by 869.7% during the 2nd quarter. Engineers Gate Manager LP now owns 1,920 shares of the restaurant operator's stock valued at $818,000 after purchasing an additional 1,722 shares during the period. Institutional investors own 74.30% of the company's stock.

About Biglari

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.

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