River Road Asset Management LLC cut its position in shares of Biglari Holdings Inc. (NYSE:BH) by 8.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,314 shares of the restaurant operator’s stock after selling 6,263 shares during the period. River Road Asset Management LLC owned about 3,106,956.52% of Biglari Holdings worth $21,435,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. IndexIQ Advisors LLC boosted its stake in Biglari Holdings by 80.8% in the third quarter. IndexIQ Advisors LLC now owns 2,007 shares of the restaurant operator’s stock worth $669,000 after purchasing an additional 897 shares in the last quarter. First Manhattan Co. acquired a new position in shares of Biglari Holdings during the third quarter valued at $116,000. The Manufacturers Life Insurance Company lifted its stake in shares of Biglari Holdings by 1.2% during the second quarter. The Manufacturers Life Insurance Company now owns 840 shares of the restaurant operator’s stock valued at $335,000 after acquiring an additional 10 shares during the period. State Street Corp lifted its stake in shares of Biglari Holdings by 2.8% during the second quarter. State Street Corp now owns 26,047 shares of the restaurant operator’s stock valued at $10,413,000 after acquiring an additional 720 shares during the period. Finally, Janus Henderson Group PLC acquired a new position in shares of Biglari Holdings during the second quarter valued at $42,364,000. 88.15% of the stock is currently owned by institutional investors and hedge funds.
Separately, TheStreet cut Biglari Holdings from a “c” rating to a “d+” rating in a research report on Monday, November 6th.
Shares of Biglari Holdings Inc. (NYSE:BH) traded down $1.24 during midday trading on Friday, reaching $343.43. The company had a trading volume of 2,902 shares, compared to its average volume of 5,623. Biglari Holdings Inc. has a 1 year low of $290.05 and a 1 year high of $491.74. The firm has a market capitalization of $710.08, a PE ratio of 8.12 and a beta of 0.39. The company has a quick ratio of 0.79, a current ratio of 0.85 and a debt-to-equity ratio of 0.51.
In other Biglari Holdings news, Director Sardar Biglari acquired 1,335 shares of the business’s stock in a transaction dated Monday, October 9th. The stock was bought at an average cost of $334.76 per share, with a total value of $446,904.60. Following the completion of the transaction, the director now directly owns 1 shares in the company, valued at approximately $334.76. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last ninety days, insiders bought 3,832 shares of company stock valued at $1,281,042. Insiders own 51.20% of the company’s stock.
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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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