Pilgrim Partners Asia Pte Ltd Acquires New Stake in Burford Capital Limited $BUR

Pilgrim Partners Asia Pte Ltd bought a new position in shares of Burford Capital Limited (NYSE:BUR) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 180,000 shares of the company’s stock, valued at approximately $2,153,000. Burford Capital makes up about 1.0% of Pilgrim Partners Asia Pte Ltd’s holdings, making the stock its 17th biggest holding. Pilgrim Partners Asia Pte Ltd owned about 0.08% of Burford Capital as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. CWM LLC raised its holdings in 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 acquiring an additional 2,058 shares during the last quarter. Strs Ohio acquired a new stake in shares of Burford Capital during the 1st quarter worth approximately $55,000. KBC Group NV purchased a new stake in Burford Capital in the second quarter valued at $70,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Burford Capital in the 3rd quarter valued at about $120,000. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Burford Capital in the 3rd quarter valued at approximately $124,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on BUR shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Burford Capital in a report on Monday, December 29th. Wall Street Zen cut shares of Burford Capital from a “hold” rating to a “sell” rating in a report on Sunday, December 21st. B. Riley restated a “buy” rating and set a $18.00 price target (down previously from $20.00) on shares of Burford Capital in a research note on Tuesday, November 11th. Finally, Zacks Research upgraded shares of Burford Capital from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $18.00.

Burford Capital Price Performance

NYSE:BUR opened at $9.66 on Tuesday. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 25.42, a price-to-earnings-growth ratio of 0.16 and a beta of 0.59. The company has a current ratio of 14.99, a quick ratio of 14.99 and a debt-to-equity ratio of 0.67. Burford Capital Limited has a 12-month low of $8.19 and a 12-month high of $15.73. The company’s 50-day moving average is $9.26 and its two-hundred day moving average is $11.17.

Burford Capital (NYSE:BUR) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.39). Burford Capital had a net margin of 18.42% and a return on equity of 2.71%. The company had revenue of $69.80 million for the quarter, compared to analysts’ expectations of $136.03 million. Research analysts expect that Burford Capital Limited will post 1.28 EPS for the current year.

Burford Capital Company Profile

Burford Capital (NYSE: BUR) is a leading global finance firm that specializes in litigation and arbitration funding, risk management, and asset recovery. The company provides capital to law firms and corporate clients to finance legal fees and associated costs in commercial disputes. In exchange for funding, Burford shares in any awards or settlements, enabling clients to pursue meritorious claims without bearing upfront legal expenses.

Founded in 2009 by Christopher Bogart, Burford was among the first firms to establish a dedicated litigation finance business.