Burford Capital (NYSE:BUR) Stock Price Breaks Above 50 Day Moving Average – Here’s What Happened

Shares of Burford Capital Limited (NYSE:BUR) passed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $3.79 and traded as high as $3.85. Burford Capital shares last traded at $3.7990, with a volume of 2,083,983 shares changing hands.

Analyst Ratings Changes

A number of brokerages recently commented on BUR. Wedbush assumed coverage on Burford Capital in a report on Thursday, October 22nd. They set a “neutral” rating and a $3.65 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Burford Capital in a research report on Friday, August 7th. Wall Street Zen upgraded Burford Capital from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 8th. Finally, Zacks Research upgraded Burford Capital from a “strong sell” rating to a “hold” rating in a research note on Friday, October 9th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Burford Capital presently has a consensus rating of “Hold” and a consensus price target of $8.88.

Burford Capital Price Performance

The firm has a market cap of $834.18 million, a PE ratio of -0.49 and a beta of 1.29. The company has a debt-to-equity ratio of 1.64, a current ratio of 9.56 and a quick ratio of 9.56. The business’s fifty day moving average is $3.79 and its 200-day moving average is $5.36.

Burford Capital (NYSE:BUR) last released 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 quarter in the previous year, the firm posted $0.39 EPS. On average, research analysts predict that Burford Capital Limited will post 1.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Burford Capital

A number of hedge funds have recently modified their holdings of the stock. KBC Group NV raised its stake in shares of Burford Capital by 8,916.0% in the first quarter. KBC Group NV now owns 640,497 shares of the company’s stock valued at $2,895,000 after buying an additional 633,393 shares during the period. Odyssean LLC purchased a new position in shares of Burford Capital during the 2nd quarter valued at $2,512,000. Hsbc Holdings PLC bought a new position in shares of Burford Capital during the 1st quarter worth $1,626,000. Solas Capital Management LLC grew its stake in shares of Burford Capital by 23.4% during the 2nd quarter. Solas Capital Management LLC now owns 1,210,944 shares of the company’s stock worth $4,965,000 after acquiring an additional 230,000 shares during the period. Finally, Y Intercept Hong Kong Ltd grew its stake in shares of Burford Capital by 181.8% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 217,931 shares of the company’s stock worth $985,000 after acquiring an additional 140,595 shares during the period.

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.