Biglari Holdings Inc. (BH) Stake Lessened by Comerica Bank
Comerica Bank cut its holdings in Biglari Holdings Inc. (NYSE:BH) by 6.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 892 shares of the restaurant operator’s stock after selling 62 shares during the period. Comerica Bank’s holdings in Biglari Holdings were worth $344,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. Mason Street Advisors LLC lifted its stake in Biglari Holdings by 7.2% in the first quarter. Mason Street Advisors LLC now owns 237 shares of the restaurant operator’s stock valued at $102,000 after purchasing an additional 16 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its stake in Biglari Holdings by 15.4% in the second quarter. Municipal Employees Retirement System of Michigan now owns 450 shares of the restaurant operator’s stock valued at $180,000 after purchasing an additional 60 shares during the last quarter. Cornerstone Capital Management Holdings LLC. purchased a new position in Biglari Holdings in the first quarter valued at approximately $209,000. Public Employees Retirement System of Ohio lifted its stake in Biglari Holdings by 16.2% in the first quarter. Public Employees Retirement System of Ohio now owns 488 shares of the restaurant operator’s stock valued at $211,000 after purchasing an additional 68 shares during the last quarter. Finally, Thrivent Financial For Lutherans lifted its stake in Biglari Holdings by 5.6% in the first quarter. Thrivent Financial For Lutherans now owns 568 shares of the restaurant operator’s stock valued at $245,000 after purchasing an additional 30 shares during the last quarter. 88.96% of the stock is owned by institutional investors.
Separately, TheStreet upgraded Biglari Holdings from a “d+” rating to a “c-” rating in a research note on Monday, July 3rd.
Biglari Holdings Inc. (NYSE BH) opened at 323.97 on Thursday. The company has a 50-day moving average price of $314.94 and a 200 day moving average price of $384.46. Biglari Holdings Inc. has a 1-year low of $290.05 and a 1-year high of $491.74. The stock has a market cap of $669.65 million, a P/E ratio of 24.64 and a beta of 0.37.
Biglari Holdings (NYSE:BH) last posted its earnings results on Friday, August 4th. The restaurant operator reported $17.17 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $14.28. Biglari Holdings had a net margin of 1.92% and a return on equity of 3.15%. The business had revenue of $212.95 million during the quarter. Equities analysts expect that Biglari Holdings Inc. will post ($2.07) earnings per share for the current fiscal year.
Biglari Holdings Company Profile
Biglari Holdings Inc is a holding company owning subsidiaries engaged in various business activities, including media, property and casualty insurance, and restaurants The Company’s segments include Restaurant Operations, First Guard, Maxim, Other and Corporate. The Company’s restaurant operations’ activities are conducted through approximately two restaurant concepts operated by subsidiaries Steak n Shake Inc (Steak n Shake) and Western Sizzlin Corporation (Western).
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