52.5% Stake of Biglari Holdings Inc (BH) Maintained by Biglari Capital Corp.
Biglari Capital Corp.
stated that they own a 52.5% stake in Biglari Holdings Inc (NYSE:BH) in a Form 13D/A disclosure that was filed with the SEC on Thursday, December 28th. The investor owns 1,085,699 shares of the stock worth approximately $458,762,112. The reporting parties listed on the disclosure included Sardar Biglari, The Lion Fund, LP (the "Lion Fund I"), The Lion Fund II, LP (the "Lion Fund II"), Biglari Capital Corp ("BCC"), The Steak n Shake 401(k) Savings Plan (the "401(k) Plan"), The Steak n Shake NonQualified Savings Plan (the "NonQualified Savings Plan") and Philip L Cooley. The disclosure is available through EDGAR at this link.
Other large investors have also added to or reduced their stakes in the company. First Manhattan Co. bought a new position in Biglari during the third quarter valued at about $116,000. BNP Paribas Arbitrage SA boosted its stake in Biglari by 55.6% during the second quarter. BNP Paribas Arbitrage SA now owns 322 shares of the restaurant operator’s stock valued at $129,000 after buying an additional 115 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in Biglari by 15.4% during the second quarter. Municipal Employees Retirement System of Michigan now owns 450 shares of the restaurant operator’s stock valued at $180,000 after buying an additional 60 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Biglari by 4.7% during the second quarter. JPMorgan Chase & Co. now owns 553 shares of the restaurant operator’s stock valued at $221,000 after buying an additional 25 shares in the last quarter. Finally, Thrivent Financial For Lutherans boosted its stake in Biglari by 7.0% during the second quarter. Thrivent Financial For Lutherans now owns 608 shares of the restaurant operator’s stock valued at $243,000 after buying an additional 40 shares in the last quarter. 87.90% of the stock is owned by institutional investors.
Separately, TheStreet cut Biglari from a “c” rating to a “d+” rating in a research note on Monday, November 6th.
Biglari Holdings Inc (NYSE:BH) traded up $5.48 during trading hours on Thursday, hitting $422.55. The company had a trading volume of 4,180 shares, compared to its average volume of 5,702. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.85 and a quick ratio of 0.79. Biglari Holdings Inc has a fifty-two week low of $290.05 and a fifty-two week high of $490.00. The firm has a market cap of $868.34, a price-to-earnings ratio of 9.83 and a beta of 0.37.
In related news, Director Sardar Biglari purchased 3,493 shares of the firm’s stock in a transaction that occurred on Wednesday, December 27th. The stock was acquired at an average price of $419.09 per share, for a total transaction of $1,463,881.37. Following the transaction, the director now directly owns 1 shares of the company’s stock, valued at approximately $419.09. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased a total of 24,789 shares of company stock valued at $9,409,513 in the last quarter. 51.20% of the stock is currently owned by corporate insiders.
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Biglari 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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