Burford Capital (NYSE:BUR) Coverage Initiated at Bank of America

Bank of America began coverage on shares of Burford Capital (NYSE:BUR) in a research report issued on Wednesday. The brokerage set a “buy” rating on the stock.

Several other equities analysts also recently commented on the stock. Wall Street Zen downgraded shares of Burford Capital from a “hold” rating to a “sell” rating in a report on Sunday, December 21st. B. Riley Financial restated a “buy” rating and set a $18.00 price objective (down previously from $20.00) on shares of Burford Capital in a report on Tuesday, November 11th. Zacks Research upgraded shares of Burford Capital from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Burford Capital in a research report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $18.00.

Burford Capital Trading Up 1.8%

BUR traded up $0.18 during trading on Wednesday, hitting $9.78. 144,145 shares of the stock traded hands, compared to its average volume of 1,569,927. The firm has a 50-day moving average of $9.33 and a 200 day moving average of $10.69. Burford Capital has a 12-month low of $8.19 and a 12-month high of $15.73. The firm has a market capitalization of $2.14 billion, a P/E ratio of 25.81, a price-to-earnings-growth ratio of 0.16 and a beta of 0.58. The company has a debt-to-equity ratio of 0.67, a current ratio of 14.99 and a quick ratio of 14.99.

Hedge Funds Weigh In On Burford Capital

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BUR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Burford Capital by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 119,261 shares of the company’s stock worth $1,575,000 after purchasing an additional 5,229 shares during the last quarter. Millennium Management LLC grew its stake in Burford Capital by 2,967.7% during the 1st quarter. Millennium Management LLC now owns 657,283 shares of the company’s stock valued at $8,683,000 after acquiring an additional 635,857 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Burford Capital by 14.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,206,303 shares of the company’s stock valued at $15,935,000 after acquiring an additional 152,792 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Burford Capital by 8.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 458,562 shares of the company’s stock worth $6,058,000 after purchasing an additional 35,541 shares in the last quarter. Finally, Jane Street Group LLC lifted its stake in Burford Capital by 369.9% in the 1st quarter. Jane Street Group LLC now owns 201,950 shares of the company’s stock worth $2,667,000 after purchasing an additional 158,973 shares in the last quarter.

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.