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

Burford Capital Limited (NYSE:BUR)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $12.64, but opened at $12.11. Burford Capital shares last traded at $11.54, with a volume of 239,257 shares.

Wall Street Analysts Forecast Growth

Separately, Wedbush upgraded Burford Capital to an “outperform” rating and set a $18.00 price target for the company in a report on Wednesday, June 11th.

Burford Capital Price Performance

The firm has a 50-day moving average of $13.41 and a 200-day moving average of $13.59. The company has a debt-to-equity ratio of 0.54, a quick ratio of 15.75 and a current ratio of 15.75. The firm has a market capitalization of $2.41 billion, a P/E ratio of 9.50 and a beta of 0.59.

Burford Capital (NYSE:BUR) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.16). Burford Capital had a net margin of 34.81% and a return on equity of 8.07%. The business had revenue of $118.86 million for the quarter, compared to the consensus estimate of $157.00 million. As a group, analysts predict that Burford Capital Limited will post 1.28 EPS for the current year.

Institutional Trading of Burford Capital

Institutional investors have recently made changes to their positions in the stock. Ridgewood Investments LLC bought a new position in Burford Capital during the first quarter valued at approximately $26,000. Strs Ohio purchased a new stake in Burford Capital during the 1st quarter valued at $55,000. Sterling Capital Management LLC lifted its holdings in shares of Burford Capital by 820.4% during 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 period. Sunbelt Securities Inc. boosted its stake in shares of Burford Capital by 109.3% in the 4th quarter. Sunbelt Securities Inc. now owns 9,000 shares of the company’s stock worth $114,000 after buying an additional 4,700 shares during the last quarter. Finally, HM Payson & Co. bought a new stake in shares of Burford Capital in the fourth quarter worth $119,000.

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.