Burford Capital’s (BUR) Outperform Rating Reaffirmed at Wedbush

Wedbush reissued their outperform rating on shares of Burford Capital (NYSE:BUR) in a report issued on Thursday,Benzinga reports. Wedbush currently has a $18.00 price target on the stock.

Separately, Wall Street Zen cut Burford Capital from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th.

Burford Capital Stock Performance

NYSE:BUR opened at $13.39 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 10.09 and a quick ratio of 10.09. The business has a fifty day simple moving average of $13.16 and a two-hundred day simple moving average of $13.57. Burford Capital has a 1 year low of $10.70 and a 1 year high of $15.73. The company has a market capitalization of $2.93 billion, a P/E ratio of 12.40 and a beta of 0.65.

Burford Capital (NYSE:BUR) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.06. Burford Capital had a return on equity of 7.48% and a net margin of 37.08%. The firm had revenue of $191.29 million during the quarter, compared to analyst estimates of $159.02 million. On average, analysts expect that Burford Capital will post 1.28 earnings per share for the current year.

Insider Activity at Burford Capital

In related news, CIO Jonathan Todd Molot sold 210,000 shares of the business’s stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $14.60, for a total transaction of $3,066,000.00. Following the completion of the transaction, the executive directly owned 3,406,625 shares in the company, valued at $49,736,725. The trade was a 5.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider David Perla sold 7,000 shares of Burford Capital stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $14.60, for a total transaction of $102,200.00. Following the completion of the transaction, the insider directly owned 80,172 shares of the company’s stock, valued at $1,170,511.20. The trade was a 8.03% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 444,500 shares of company stock valued at $6,489,700. 8.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BUR. Ridgewood Investments LLC acquired a new stake in Burford Capital during the 1st quarter worth approximately $26,000. CWM LLC increased its position in shares of Burford Capital by 131.3% in the 2nd quarter. CWM LLC now owns 3,625 shares of the company’s stock valued at $52,000 after purchasing an additional 2,058 shares during the last quarter. Strs Ohio purchased a new position in shares of Burford Capital in the 1st quarter valued at $55,000. KBC Group NV purchased a new position in shares of Burford Capital in the 2nd quarter valued at $70,000. Finally, Sterling Capital Management LLC grew its position in shares of Burford Capital by 820.4% in the 4th quarter. Sterling Capital Management LLC now owns 6,314 shares of the company’s stock valued at $81,000 after buying an additional 5,628 shares during the last quarter.

Burford Capital Company Profile

Burford Capital Limited provides legal finance products and services worldwide. The company operates through two segments, Capital Provision, and Asset Management and Other Provision. The Capital Provision segment provides capital to the legal industry or in connection with legal matters directly and through investment in private funds; legal risk management services; lower risk legal finance business focusing on pre-settlement litigation matters with lower risk and lower expected returns; post-settlement finance; and complex strategies in which it acts as a principal and acquires assets that are mispriced.