Biglari (NYSE:BH) Shares Up 6.2% - Here's Why

Biglari Holdings Inc. (NYSE:BH - Get Free Report)'s stock price shot up 6.2% during mid-day trading on Thursday . The stock traded as high as $253.87 and last traded at $251.00. 7,788 shares were traded during trading, an increase of 151% from the average session volume of 3,101 shares. The stock had previously closed at $236.41.

Analyst Ratings Changes

Separately, StockNews.com raised Biglari from a "hold" rating to a "strong-buy" rating in a research note on Monday, November 11th.

Biglari Stock Up 3.1 %

The company has a market cap of $554.66 million, a P/E ratio of 1.38 and a beta of 0.81. The company has a 50-day simple moving average of $199.24 and a 200 day simple moving average of $188.24. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.17.

Insider Buying and Selling at Biglari

In other news, CEO Sardar Biglari purchased 5,145 shares of the company's stock in a transaction dated Monday, November 18th. The shares were acquired at an average price of $240.96 per share, with a total value of $1,239,739.20. Following the transaction, the chief executive officer now owns 1,302,770 shares of the company's stock, valued at $313,915,459.20. This represents a 0.40 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders purchased a total of 21,977 shares of company stock valued at $6,342,966 in the last three months. Company insiders own 71.40% of the company's stock.

Institutional Trading of Biglari

A number of hedge funds have recently added to or reduced their stakes in the business. Innealta Capital LLC purchased a new stake in Biglari during the second quarter worth $25,000. Ritholtz Wealth Management lifted its stake in shares of Biglari by 40.4% during the 2nd quarter. Ritholtz Wealth Management now owns 1,532 shares of the restaurant operator's stock worth $296,000 after purchasing an additional 441 shares during the last quarter. Barclays PLC lifted its stake in shares of Biglari by 78.6% during the 3rd quarter. Barclays PLC now owns 1,974 shares of the restaurant operator's stock worth $340,000 after purchasing an additional 869 shares during the last quarter. Los Angeles Capital Management LLC boosted its position in Biglari by 2.0% during the third quarter. Los Angeles Capital Management LLC now owns 4,418 shares of the restaurant operator's stock valued at $760,000 after purchasing an additional 88 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Biglari by 3.4% in the second quarter. Bank of New York Mellon Corp now owns 3,951 shares of the restaurant operator's stock valued at $764,000 after purchasing an additional 130 shares during the last quarter. 74.30% of the stock is owned by hedge funds and other institutional investors.

Biglari Company Profile

Biglari Holdings Inc, through its subsidiaries, primarily operates and franchises restaurants in the United States. It owns, operates, and franchises restaurants under the Steak n Shake and Western Sizzlin names. The company also engages in underwriting commercial trucking insurance; selling physical damage and non-trucking liability insurance to truckers; and providing property and casualty insurance.