Burford Capital (NYSE:BUR) Shares Down 9% – Here’s What Happened

Burford Capital Limited (NYSE:BUR)’s share price traded down 9% during trading on Friday. The company traded as low as $3.62 and last traded at $3.6050. Approximately 761,906 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 2,617,822 shares. The stock had previously closed at $3.96.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on BUR shares. Zacks Research raised Burford Capital from a “strong sell” rating to a “hold” rating in a report on Friday, October 9th. Wall Street Zen raised shares of Burford Capital from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. Wedbush started coverage on shares of Burford Capital in a research report on Thursday, October 22nd. They set a “neutral” rating and a $3.65 price target for the company. Finally, Weiss Ratings cut shares of Burford Capital from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Burford Capital has a consensus rating of “Hold” and a consensus price target of $8.88.

Burford Capital Stock Performance

The company has a market cap of $793.80 million, a P/E ratio of -0.48 and a beta of 1.29. The company has a 50 day moving average price of $3.78 and a 200-day moving average price of $5.31. The company has a quick ratio of 9.56, a current ratio of 9.56 and a debt-to-equity ratio of 1.64.

Burford Capital (NYSE:BUR) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $267.38 million for the quarter, compared to the consensus estimate of $109.13 million. During the same quarter in the prior year, the firm earned ($0.09) earnings per share. Equities analysts expect that Burford Capital Limited will post 1.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Burford Capital

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BUR. M&G PLC increased its position in shares of Burford Capital by 19.8% during the 3rd quarter. M&G PLC now owns 5,413,417 shares of the company’s stock valued at $21,256,000 after purchasing an additional 895,689 shares during the period. Solas Capital Management LLC lifted its holdings in shares of Burford Capital by 23.4% in the second quarter. Solas Capital Management LLC now owns 1,210,944 shares of the company’s stock valued at $4,965,000 after buying an additional 230,000 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Burford Capital by 15.2% in the first quarter. Renaissance Technologies LLC now owns 958,500 shares of the company’s stock valued at $4,332,000 after buying an additional 126,500 shares during the period. Empowered Funds LLC boosted its stake in Burford Capital by 6.0% during the first quarter. Empowered Funds LLC now owns 761,609 shares of the company’s stock valued at $3,442,000 after buying an additional 42,951 shares in the last quarter. Finally, Mraz Amerine & Associates Inc. boosted its stake in Burford Capital by 12.5% during the third quarter. Mraz Amerine & Associates Inc. now owns 645,108 shares of the company’s stock valued at $2,529,000 after buying an additional 71,505 shares in the last quarter.

About Burford Capital

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.