Biglari (NYSE:BH) Shares Break Above 200-Day Moving Average - Here's What Happened

Key Points

• Biglari shares crossed above their 200-day moving average of $343.57, reaching $350.76 before last trading near $342.97; the stock was down about 0.5%.
• In its latest quarter, Biglari reported $158.17 in EPS on $108.52 million in revenue, with a 5.70% return on equity but a negative 7.33% net margin.
• Major shareholder Sardar Biglari sold 132,421 shares, while insiders sold 336,203 shares over the prior 90 days; insiders own 68.53% of the company and institutional investors own 74.30%.

Biglari Holdings Inc. (NYSE:BH - Get Free Report) shares crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $343.57 and traded as high as $350.76. Biglari shares last traded at $342.9660, with a volume of 56,471 shares.

Biglari Trading Down 0.5%

The company has a fifty day simple moving average of $376.24 and a two-hundred day simple moving average of $343.57. The company has a current ratio of 2.45, a quick ratio of 2.42 and a debt-to-equity ratio of 0.58. The company has a market cap of $799.11 million, a PE ratio of -3.14 and a beta of 0.63.

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

Insider Transactions at Biglari

In other Biglari news, major shareholder Sardar Biglari sold 132,421 shares of the business's stock in a transaction that occurred 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 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 legal filing with the SEC, which is available at this link. Insiders have sold a total of 336,203 shares of company stock valued at $5,712,338 in the last ninety days. 68.53% of the stock is owned by insiders.

Hedge Funds Weigh In On Biglari

A number of institutional investors and hedge funds have recently modified their holdings of BH. Engineers Gate Manager LP increased its holdings in shares of Biglari by 869.7% in the 2nd 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. Squarepoint Ops LLC purchased a new stake in Biglari during the second quarter worth approximately $282,000. Bank of America Corp DE lifted its stake in Biglari by 72.1% during the first quarter. Bank of America Corp DE now owns 1,287 shares of the restaurant operator's stock worth $424,000 after purchasing an additional 539 shares during the last quarter. Swiss National Bank acquired a new position in Biglari in the first quarter valued at approximately $475,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Biglari in the first quarter valued at approximately $1,404,000. Institutional investors and hedge funds own 74.30% of the company's stock.

About Biglari

Biglari Holdings Inc NYSE: BH is a diversified holding company headquartered in San Antonio, Texas. The company owns and operates businesses in the restaurant, insurance, media and investment sectors, with its operations managed through subsidiaries and affiliated entities.

Its principal operating business is Steak 'n Shake, a restaurant chain known for steakburgers, french fries and milkshakes. Steak 'n Shake serves customers through company-operated and franchised locations, primarily in the United States.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.