Biglari (NYSE:BH) Sees Large Volume Increase – Here’s What Happened

Shares of Biglari Holdings Inc. (NYSE:BH) saw unusually-strong trading volume on Wednesday . Approximately 75,309 shares were traded during trading, an increase of 292% from the previous session’s volume of 19,199 shares.The stock last traded at $307.3130 and had previously closed at $306.68.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of Biglari from a “buy” rating to a “hold” rating in a report on Saturday.

Biglari Stock Performance

The firm’s 50 day moving average is $338.40 and its 200 day moving average is $301.99. The stock has a market cap of $692.78 million, a P/E ratio of 2.08 and a beta of 0.81. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.35 and a current ratio of 1.38.

Hedge Funds Weigh In On Biglari

Several institutional investors and hedge funds have recently modified their holdings of BH. Invesco Ltd. increased its stake in shares of Biglari by 319.8% during the third quarter. Invesco Ltd. now owns 40,443 shares of the restaurant operator’s stock worth $13,089,000 after purchasing an additional 30,810 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Biglari by 20.9% in the third quarter. JPMorgan Chase & Co. now owns 32,656 shares of the restaurant operator’s stock valued at $10,569,000 after acquiring an additional 5,650 shares during the last quarter. Nuveen LLC purchased a new stake in Biglari in the 1st quarter valued at about $3,965,000. Bridgeway Capital Management LLC lifted its holdings in shares of Biglari by 4.1% in the 3rd quarter. Bridgeway Capital Management LLC now owns 16,944 shares of the restaurant operator’s stock worth $5,484,000 after acquiring an additional 666 shares during the last quarter. Finally, Peapod Lane Capital LLC raised its holdings in shares of Biglari by 0.3% in the 2nd quarter. Peapod Lane Capital LLC now owns 13,876 shares of the restaurant operator’s stock valued at $4,055,000 after buying an additional 47 shares during the period. Hedge funds and other institutional investors own 74.30% of the company’s stock.

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.