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

Key Points

• Biglari shares crossed above the 200-day moving average of $351.61, reaching $459.89 before closing near $443.07; the stock was reported down 1.5% on the day.
• The company reported quarterly revenue of $108.52 million and earnings per share of $158.17, while maintaining a negative net margin of 7.33% and a positive return on equity of 5.70%.
• Major shareholder Sardar Biglari sold 80,000 shares, and insiders sold 108,257 shares worth $1.82 million over the past 90 days. Hedge funds and institutional investors own 74.30% of the stock.

Biglari Holdings Inc. (NYSE:BH - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $351.61 and traded as high as $459.89. Biglari shares last traded at $443.0660, with a volume of 130,220 shares traded.

Biglari Trading Down 1.5%

The firm has a market cap of $1.03 billion, a P/E ratio of -4.06 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 stock has a 50 day moving average of $375.64 and a 200 day moving average of $351.61.

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

Insider Activity at Biglari

In other news, major shareholder Sardar Biglari sold 80,000 shares of the stock in a transaction dated 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 approximately $1,122,531.80. This represents a 54.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders sold 108,257 shares of company stock worth $1,824,954. 68.53% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Biglari

Large investors have recently modified their holdings of the company. Y Intercept Hong Kong Ltd purchased a new stake in Biglari in the first quarter worth approximately $1,404,000. Engineers Gate Manager LP grew its position in Biglari by 869.7% during the second quarter. Engineers Gate Manager LP now owns 1,920 shares of the restaurant operator's stock valued at $818,000 after acquiring an additional 1,722 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Biglari during the first quarter worth approximately $500,000. Hsbc Holdings PLC purchased a new position in shares of Biglari during the fourth quarter worth approximately $498,000. Finally, Swiss National Bank purchased a new position in shares of Biglari during the first quarter worth approximately $475,000. 74.30% of the stock is owned by hedge funds and other institutional investors.

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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