Burford Capital (NYSE:BUR) Shares Down 5.6% – Here’s Why

Burford Capital Limited (NYSE:BUR)’s share price traded down 5.6% during mid-day trading on Wednesday . The stock traded as low as $3.98 and last traded at $3.9450. 720,318 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 2,629,801 shares. The stock had previously closed at $4.18.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on BUR shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Burford Capital in a report on Friday, August 7th. Wall Street Zen raised Burford Capital from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 8th. Finally, Zacks Research cut Burford Capital from a “hold” rating to a “strong sell” rating in a research report on Monday, August 10th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $9.33.

Burford Capital Stock Performance

The stock has a market cap of $877.68 million, a price-to-earnings ratio of -0.52, a price-to-earnings-growth ratio of 0.07 and a beta of 1.25. The company’s 50-day simple moving average is $4.25 and its 200-day simple moving average is $4.89. The company has a quick ratio of 9.56, a current ratio of 9.56 and a debt-to-equity ratio of 1.64.

Burford Capital (NYSE:BUR) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.07). Burford Capital had a return on equity of 10.24% and a net margin of 15.14%.During the same period in the prior year, the business earned $0.39 EPS. Analysts predict that Burford Capital Limited will post 1.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Burford Capital

Institutional investors have recently bought and sold shares of the stock. Cooke & Bieler LP grew its holdings in shares of Burford Capital by 31.0% during the fourth quarter. Cooke & Bieler LP now owns 5,194,551 shares of the company’s stock valued at $46,335,000 after buying an additional 1,228,328 shares in the last quarter. Langdon Equity Partners purchased a new stake in Burford Capital in the 4th quarter worth about $19,661,000. Greenhaven Road Investment Management L.P. boosted its position in Burford Capital by 16.4% during the 4th quarter. Greenhaven Road Investment Management L.P. now owns 1,865,312 shares of the company’s stock worth $16,639,000 after acquiring an additional 262,500 shares during the period. Solas Capital Management LLC boosted its position in Burford Capital by 23.4% during the 2nd quarter. Solas Capital Management LLC now owns 1,210,944 shares of the company’s stock worth $4,965,000 after acquiring an additional 230,000 shares during the period. Finally, Renaissance Technologies LLC grew its stake in Burford Capital by 15.2% during the 1st quarter. Renaissance Technologies LLC now owns 958,500 shares of the company’s stock valued at $4,332,000 after acquiring an additional 126,500 shares in the last quarter.

Burford Capital Company Profile

Burford Capital Limited (NYSE: BUR) is a global finance and asset management firm focused on the legal sector. The company provides capital to corporations, law firms and other organizations involved in commercial litigation, arbitration and other legal claims, allowing clients to fund legal expenses or monetize the potential value of legal assets without relying solely on their own balance sheets.

Burford’s services include financing individual legal matters, portfolios of claims and law firm receivables, as well as providing capital for post-settlement recoveries, insolvency proceedings and complex legal-risk transactions.