Burford Capital (NYSE:BUR) Shares Down 6.6% – Here’s What Happened

Burford Capital Limited (NYSE:BUR)’s share price dropped 6.6% on Monday . The stock traded as low as $3.92 and last traded at $3.9150. Approximately 1,431,405 shares were traded during mid-day trading, a decline of 53% from the average session volume of 3,032,383 shares. The stock had previously closed at $4.19.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BUR. Deutsche Bank Aktiengesellschaft downgraded shares of Burford Capital from a “buy” rating to a “hold” rating and set a $5.00 price objective for the company. in a research report on Monday, May 11th. Wall Street Zen lowered Burford Capital from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. Wedbush lifted their price target on Burford Capital from $4.75 to $5.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Zacks Research upgraded Burford Capital from a “strong sell” rating to a “hold” rating in a research note on Friday, May 8th. Finally, B. Riley Financial restated a “buy” rating on shares of Burford Capital in a research note on Thursday, May 14th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $9.33.

Burford Capital Stock Up 1.8%

The company has a debt-to-equity ratio of 1.59, a quick ratio of 13.72 and a current ratio of 13.72. The stock has a market cap of $914.62 million, a P/E ratio of -0.57, a P/E/G ratio of 0.05 and a beta of 1.23. The stock’s fifty day simple moving average is $4.55 and its 200-day simple moving average is $6.93.

Institutional Investors Weigh In On Burford Capital

A number of large investors have recently added to or reduced their stakes in the stock. Signaturefd LLC lifted its position in shares of Burford Capital by 1,687.7% during the 4th quarter. Signaturefd LLC now owns 2,914 shares of the company’s stock valued at $26,000 after acquiring an additional 2,751 shares during the period. Strs Ohio bought a new position in shares of Burford Capital in the first quarter worth $55,000. Quadrant Capital Group LLC acquired a new position in Burford Capital in the fourth quarter valued at about $53,000. Insigneo Advisory Services LLC acquired a new position in Burford Capital in the fourth quarter valued at about $93,000. Finally, Equitable Holdings Inc. bought a new stake in Burford Capital during the fourth quarter worth about $94,000.

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.