Burford Capital (NYSE:BUR) Shares Up 8.6% – Here’s What Happened

Burford Capital Limited (NYSE:BUR)’s stock price shot up 8.6% during mid-day trading on Monday . The company traded as high as $4.41 and last traded at $4.4950. 730,312 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 3,110,487 shares. The stock had previously closed at $4.14.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BUR. Zacks Research cut shares of Burford Capital from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd. Bank of America assumed coverage on shares of Burford Capital in a research report on Wednesday, February 18th. They issued a “buy” rating for the company. Wall Street Zen cut shares of Burford Capital from a “hold” rating to a “sell” rating in a research report on Sunday, December 21st. Wedbush restated a “neutral” rating and issued a $4.75 price objective (down from $6.00) on shares of Burford Capital in a research report on Monday, March 30th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Burford Capital in a research report on Friday, March 27th. Three research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $12.00.

Burford Capital Stock Up 3.6%

The company has a debt-to-equity ratio of 0.68, a quick ratio of 10.93 and a current ratio of 10.93. The firm’s 50-day moving average is $8.05 and its two-hundred day moving average is $9.25. The stock has a market cap of $1.03 billion, a P/E ratio of 17.43 and a beta of 1.29.

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

Burford Capital Dividend Announcement

The firm also recently announced a dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 22nd will be issued a dividend of $0.0625 per share. This represents a yield of 147.0%. The ex-dividend date of this dividend is Friday, May 22nd. Burford Capital’s payout ratio is currently 44.44%.

Institutional Trading of Burford Capital

Institutional investors have recently bought and sold shares of the business. Signaturefd LLC grew its holdings in Burford Capital by 1,687.7% during the 4th quarter. Signaturefd LLC now owns 2,914 shares of the company’s stock worth $26,000 after acquiring an additional 2,751 shares during the period. Quadrant Capital Group LLC acquired a new stake in Burford Capital during the 4th quarter worth $53,000. Strs Ohio acquired a new stake in Burford Capital during the 1st quarter worth $55,000. Insigneo Advisory Services LLC acquired a new stake in Burford Capital during the 4th quarter worth $93,000. Finally, Equitable Holdings Inc. acquired a new stake in Burford Capital during the 4th quarter worth $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.