Burford Capital (NYSE:BUR) Given New $6.00 Price Target at Wedbush

Burford Capital (NYSE:BUR) had its price objective cut by investment analysts at Wedbush from $13.00 to $6.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s target price would suggest a potential upside of 42.01% from the company’s current price.

Several other equities analysts have also recently issued reports on BUR. Bank of America began coverage on Burford Capital in a report on Wednesday, February 18th. They issued a “buy” rating for the company. Zacks Research cut Burford Capital from a “hold” rating to a “strong sell” rating in a research report on Monday, March 2nd. Weiss Ratings reissued a “sell (d+)” rating on shares of Burford Capital in a report on Friday. Finally, Wall Street Zen cut shares of Burford Capital from a “hold” rating to a “sell” rating in a research note on Sunday, December 21st. Three analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $12.00.

Burford Capital Stock Performance

Shares of Burford Capital stock traded up $0.09 during trading on Friday, hitting $4.23. 3,588,870 shares of the company’s stock were exchanged, compared to its average volume of 2,459,153. The stock has a market capitalization of $924.84 million, a price-to-earnings ratio of 15.35, a PEG ratio of 0.11 and a beta of 0.66. The business has a 50-day simple moving average of $8.81 and a 200-day simple moving average of $9.67. Burford Capital has a 52-week low of $3.59 and a 52-week high of $15.10. The company has a debt-to-equity ratio of 0.68, a quick ratio of 10.93 and a current ratio of 10.93.

Burford Capital (NYSE:BUR) last posted its earnings results on Thursday, February 26th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.54). The business had revenue of $48.78 million for the quarter, compared to analyst estimates of $168.30 million. Burford Capital had a net margin of 15.14% and a return on equity of 1.97%. On average, research analysts forecast that Burford Capital will post 1.28 EPS for the current year.

Institutional Trading of Burford Capital

Several institutional investors have recently bought and sold shares of the business. Vident Advisory LLC grew its holdings in Burford Capital by 4.8% in the third quarter. Vident Advisory LLC now owns 33,158 shares of the company’s stock valued at $397,000 after purchasing an additional 1,514 shares during the period. Principal Financial Group Inc. lifted its position in shares of Burford Capital by 11.4% during the 3rd quarter. Principal Financial Group Inc. now owns 15,003 shares of the company’s stock valued at $179,000 after buying an additional 1,538 shares in the last quarter. GWN Securities Inc. lifted its position in shares of Burford Capital by 15.3% during the 4th quarter. GWN Securities Inc. now owns 12,697 shares of the company’s stock valued at $113,000 after buying an additional 1,687 shares in the last quarter. Allegheny Financial Group grew its stake in Burford Capital by 17.7% in the 4th quarter. Allegheny Financial Group now owns 14,787 shares of the company’s stock valued at $132,000 after acquiring an additional 2,227 shares during the period. Finally, ProShare Advisors LLC grew its stake in Burford Capital by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 36,783 shares of the company’s stock valued at $328,000 after acquiring an additional 2,371 shares during the period.

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.