Based on the information provided, it appears that the CBRL (Cracker Barrel) stock was perceived to be undervalued by Sardar Biglari, the CEO of Maran Capital Management, when the stock was trading at $50. However, it is not clear from the given information what the current valuation or opinion of CBRL is.
It is worth noting that Sardar Biglari has a successful track record as an entrepreneur, operator, and capital allocator. He has been involved in successful activist investing campaigns in companies like Western Sizzlin’, Friendly’s Ice Cream, Steak n Shake, and Cracker Barrel.
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