Burford Capital (NYSE:BUR) Sets New 52-Week Low – Here’s Why

Shares of Burford Capital Limited (NYSE:BUR) hit a new 52-week low during trading on Thursday . The company traded as low as $8.12 and last traded at $8.6050, with a volume of 790920 shares changing hands. The stock had previously closed at $9.58.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on BUR shares. Weiss Ratings reissued a “sell (d+)” rating on shares of Burford Capital in a research report on Monday, December 29th. Bank of America assumed coverage on Burford Capital in a research report on Wednesday, February 18th. They set a “buy” rating on the stock. Zacks Research upgraded Burford Capital from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Wedbush assumed coverage on Burford Capital in a research note on Friday, February 20th. They issued an “outperform” rating and a $14.00 price objective on the stock. Finally, B. Riley Financial restated a “buy” rating and set a $18.00 target price (down from $20.00) on shares of Burford Capital in a research note on Tuesday, November 11th. Three 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 company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $16.00.

Burford Capital Trading Down 11.0%

The company has a market capitalization of $1.87 billion, a PE ratio of 22.41, a price-to-earnings-growth ratio of 0.17 and a beta of 0.58. The stock’s 50 day moving average is $9.39 and its two-hundred day moving average is $10.56. The company has a quick ratio of 14.99, a current ratio of 14.99 and a debt-to-equity ratio of 0.67.

Hedge Funds Weigh In On Burford Capital

Large investors have recently made changes to their positions in the company. Orbis Allan Gray Ltd grew its stake in Burford Capital by 31.1% in the 4th quarter. Orbis Allan Gray Ltd now owns 12,051,544 shares of the company’s stock valued at $107,500,000 after acquiring an additional 2,859,722 shares during the period. Greenlea Lane Capital Management LLC increased its position in shares of Burford Capital by 325.4% during the 2nd quarter. Greenlea Lane Capital Management LLC now owns 3,362,322 shares of the company’s stock worth $45,724,000 after purchasing an additional 2,571,917 shares during the last quarter. Langdon Equity Partners acquired a new stake in Burford Capital in the 4th quarter valued at approximately $19,661,000. Bank of Montreal Can increased its stake in Burford Capital by 58.1% during the second quarter. Bank of Montreal Can now owns 4,976,941 shares of the company’s stock worth $71,594,000 after purchasing an additional 1,829,585 shares during the period. Finally, Two Seas Capital LP acquired a new stake in shares of Burford Capital in the second quarter valued at $22,498,000.

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.