Biglari (NYSE:BH) Shares Down 5.6% - Here's Why

Key Points

Error: Response status code does not indicate success: 520 ().

Biglari Holdings Inc. (NYSE:BH - Get Free Report)'s stock price dropped 5.6% during mid-day trading on Wednesday. The company traded as low as $419.18 and last traded at $417.3950. 108,495 shares were traded during trading, a decline of 2% from the average session volume of 110,552 shares. The stock had previously closed at $442.21.

Biglari Trading Down 5.6%

The firm has a market capitalization of $971.28 million, a PE ratio of -3.83 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 company has a fifty day moving average of $375.64 and a 200-day moving average of $351.61.

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

Insider Activity at Biglari

In related news, major shareholder Sardar Biglari sold 80,000 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $16.90, for a total value of $1,352,000.00. Following the completion of the transaction, the insider owned 66,422 shares of the company's stock, valued at $1,122,531.80. This represents a 54.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 108,257 shares of company stock valued at $1,824,954 in the last three months. Corporate insiders own 68.53% of the company's stock.

Hedge Funds Weigh In On Biglari

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd acquired a new position in shares of Biglari in the 1st quarter valued at $1,404,000. SG Americas Securities LLC bought a new position in shares of Biglari in the 1st quarter worth $500,000. Swiss National Bank acquired a new stake in shares of Biglari during the first quarter worth $475,000. Hsbc Holdings PLC acquired a new stake in shares of Biglari during the fourth quarter worth $498,000. Finally, Engineers Gate Manager LP grew its stake in shares of Biglari by 869.7% during the second quarter. Engineers Gate Manager LP now owns 1,920 shares of the restaurant operator's stock worth $818,000 after purchasing an additional 1,722 shares during the period. 74.30% of the stock is currently owned by institutional investors and hedge funds.

Biglari Company Profile

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.

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.