Burford Capital (NYSE:BUR) Earns Outperform Rating from Analysts at Wedbush

Investment analysts at Wedbush initiated coverage on shares of Burford Capital (NYSE:BUR) in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $14.00 price target on the stock. Wedbush’s target price would indicate a potential upside of 44.11% from the company’s current price.

Several other research firms also recently commented on BUR. Bank of America started coverage on shares of Burford Capital in a research note on Wednesday. They set a “buy” rating on the stock. Zacks Research upgraded shares of Burford Capital from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. B. Riley Financial reissued a “buy” rating and issued a $18.00 price target (down from $20.00) on shares of Burford Capital in a research note on Tuesday, November 11th. Wall Street Zen cut Burford Capital from a “hold” rating to a “sell” rating in a research note on Sunday, December 21st. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Burford Capital in a research note on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $16.00.

Burford Capital Price Performance

NYSE:BUR traded down $0.04 during midday trading on Friday, hitting $9.72. The company had a trading volume of 264,207 shares, compared to its average volume of 1,542,528. The stock’s fifty day moving average price is $9.36 and its 200-day moving average price is $10.67. Burford Capital has a 52-week low of $8.19 and a 52-week high of $15.73. The company has a quick ratio of 14.99, a current ratio of 14.99 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $2.13 billion, a PE ratio of 25.71, a P/E/G ratio of 0.16 and a beta of 0.58.

Institutional Trading of Burford Capital

A number of hedge funds have recently modified their holdings of BUR. Orbis Allan Gray Ltd boosted its holdings in Burford Capital by 31.1% in the fourth quarter. Orbis Allan Gray Ltd now owns 12,051,544 shares of the company’s stock worth $107,500,000 after acquiring an additional 2,859,722 shares in the last quarter. Greenlea Lane Capital Management LLC increased its position in shares of Burford Capital by 325.4% during the second quarter. Greenlea Lane Capital Management LLC now owns 3,362,322 shares of the company’s stock valued at $45,724,000 after acquiring an additional 2,571,917 shares in the last quarter. Langdon Equity Partners purchased a new position in Burford Capital in the 4th quarter worth approximately $19,661,000. Bank of Montreal Can raised its holdings in Burford Capital by 58.1% in the 2nd quarter. Bank of Montreal Can now owns 4,976,941 shares of the company’s stock worth $71,594,000 after acquiring an additional 1,829,585 shares during the last quarter. Finally, Two Seas Capital LP bought a new position in Burford Capital in the 2nd quarter valued at approximately $22,498,000.

About Burford Capital

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.