In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Biglari Holdings Inc. (NYSE:BH) reported that GAMCO Investors has picked up 23,219 of common stock as of 2017-04-28.
The acquisition brings the aggregate amount owned by GAMCO Investors to a total of 23,219 representing less than 1.12% stake in the company.
For those not familiar with the company, 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). Steak n Shake is engaged in the ownership, operation and franchising of Steak n Shake restaurants. Western is engaged primarily in the franchising of restaurants. The Company’s insurance business consists of First Guard Insurance Company and its agency, 1st Guard Corporation. First Guard is a direct underwriter of commercial trucking insurance, selling physical damage and non-trucking liability insurance to truckers. Its media business consists of Maxim. Maxim’s business lies principally in media and licensing.
A glance at Biglari Holdings Inc. (NYSE:BH)’s key stats reveals a current market capitalization of 887.87 Million based on 2.07 Million shares outstanding and a price at last close of $426.63 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-08-08, Biglari picked up 263 at a purchase price of $398.47. This brings their total holding to 654,237 as of the date of the filing.
On the sell side, the most recent transaction saw Mustang unload 750 shares at a sale price of $309.90. This brings their total holding to 0.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Biglari Holdings Inc. (NYSE:BH) as things move forward to see if its progress aligns with these transactions.
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