Burford Capital (NYSE:BUR) Shares Up 5.4% – Here’s What Happened

Burford Capital Limited (NYSE:BUR) shares were up 5.4% during trading on Thursday. The company traded as high as $3.24 and last traded at $3.2150. 319,406 shares were traded during trading, a decline of 88% from the average session volume of 2,618,357 shares. The stock had previously closed at $3.05.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Zacks Research upgraded Burford Capital from a “strong sell” rating to a “hold” rating in a research note on Friday, October 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Burford Capital in a research report on Friday, August 7th. Wall Street Zen upgraded shares of Burford Capital from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. Finally, Wedbush restated a “neutral” rating and set a $3.65 price objective on shares of Burford Capital in a report on Thursday. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Burford Capital currently has a consensus rating of “Hold” and a consensus price target of $8.88.

Burford Capital Stock Down 0.4%

The stock has a 50 day moving average of $3.91 and a 200-day moving average of $4.25. The firm has a market capitalization of $736.69 million, a P/E ratio of -0.44 and a beta of 1.25. The company has a debt-to-equity ratio of 1.64, a quick ratio of 9.56 and a current ratio of 9.56.

Burford Capital (NYSE:BUR) last issued its earnings results on Thursday, August 6th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.07). During the same period in the previous year, the company posted $0.39 EPS. Research analysts predict that Burford Capital Limited will post 1.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BUR. XP Advisory US Inc. bought a new stake in Burford Capital during the 2nd quarter valued at $31,000. Sequoia Financial Advisors LLC bought a new position in shares of Burford Capital in the second quarter worth $44,000. Waverly Advisors LLC purchased a new position in shares of Burford Capital in the second quarter valued at $46,000. Allworth Financial LP grew its position in shares of Burford Capital by 1,747.4% in the second quarter. Allworth Financial LP now owns 11,306 shares of the company’s stock valued at $46,000 after purchasing an additional 10,694 shares in the last quarter. Finally, HB Wealth Management LLC purchased a new position in shares of Burford Capital in the second quarter valued at $65,000.

Burford Capital Company Profile

Burford Capital Limited (NYSE: BUR) is a global legal finance and asset management firm. The company provides capital to businesses and law firms involved in commercial litigation and arbitration, allowing clients to finance legal expenses, manage risk, or access the potential value of legal claims and judgments without relying solely on their balance sheets.

Its services include single-case and portfolio litigation finance, post-settlement and judgment monetization, legal asset management, and corporate legal finance.