Municipal Employees Retirement System of Michigan lifted its holdings in shares of Biglari Holdings Inc. (NYSE:BH) by 31.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 590 shares of the restaurant operator’s stock after acquiring an additional 140 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Biglari were worth $197,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Texas Permanent School Fund boosted its stake in shares of Biglari by 0.7% during the 2nd quarter. Texas Permanent School Fund now owns 739 shares of the restaurant operator’s stock worth $295,000 after acquiring an additional 5 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Biglari by 1.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 840 shares of the restaurant operator’s stock worth $335,000 after acquiring an additional 10 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of Biglari by 0.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 3,855 shares of the restaurant operator’s stock worth $1,541,000 after acquiring an additional 19 shares during the period. Profund Advisors LLC boosted its stake in shares of Biglari by 2.7% during the 2nd quarter. Profund Advisors LLC now owns 765 shares of the restaurant operator’s stock worth $306,000 after acquiring an additional 20 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Biglari by 4.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 553 shares of the restaurant operator’s stock worth $221,000 after acquiring an additional 25 shares during the period. Institutional investors own 87.90% of the company’s stock.

Separately, TheStreet downgraded Biglari from a “c” rating to a “d+” rating in a research note on Monday, November 6th.

In other news, Director Sardar Biglari purchased 1,335 shares of Biglari stock in a transaction that occurred on Monday, October 9th. The stock was acquired at an average cost of $334.76 per share, for a total transaction of $446,904.60. Following the purchase, the director now directly owns 1 shares of the company’s stock, valued at approximately $334.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders purchased a total of 15,096 shares of company stock valued at $5,370,305 over the last 90 days. 51.20% of the stock is currently owned by corporate insiders.

Shares of Biglari Holdings Inc. (NYSE:BH) opened at $397.26 on Thursday. The stock has a market capitalization of $806.08, a price-to-earnings ratio of 9.21 and a beta of 0.37. Biglari Holdings Inc. has a one year low of $290.05 and a one year high of $491.74. The company has a quick ratio of 0.79, a current ratio of 0.85 and a debt-to-equity ratio of 0.51.

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About Biglari

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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Institutional Ownership by Quarter for Biglari (NYSE:BH)

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