Burford Capital Limited (NYSE:BUR) Sees Large Increase in Short Interest

Burford Capital Limited (NYSE:BUR) was the recipient of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 7,670,000 shares, a growth of 26.8% from the October 15th total of 6,050,000 shares. Currently, 4.1% of the company’s shares are short sold. Based on an average trading volume of 553,100 shares, the days-to-cover ratio is presently 13.9 days.

Burford Capital Price Performance

Shares of Burford Capital stock traded down $0.16 during trading on Friday, reaching $13.19. 806,908 shares of the stock traded hands, compared to its average volume of 965,528. The company has a debt-to-equity ratio of 0.54, a current ratio of 15.75 and a quick ratio of 15.75. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of 11.38 and a beta of 0.49. Burford Capital has a 52-week low of $12.07 and a 52-week high of $16.77. The business has a fifty day simple moving average of $13.42 and a two-hundred day simple moving average of $13.64.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Wedbush reissued an “outperform” rating and issued a $18.00 price objective on shares of Burford Capital in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft assumed coverage on Burford Capital in a research report on Friday, September 6th. They set a “buy” rating and a $18.00 price target on the stock.

Institutional Trading of Burford Capital

A number of large investors have recently modified their holdings of BUR. Bank of Montreal Can lifted its position in Burford Capital by 367.7% during the second quarter. Bank of Montreal Can now owns 5,753,031 shares of the company’s stock valued at $75,077,000 after purchasing an additional 4,523,087 shares during the period. M&G Plc acquired a new position in Burford Capital in the first quarter valued at about $18,108,000. Bank of New York Mellon Corp lifted its holdings in shares of Burford Capital by 4,376.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,039,300 shares of the company’s stock worth $13,563,000 after acquiring an additional 1,016,082 shares during the last quarter. State Street Corp increased its position in shares of Burford Capital by 24.6% in the 3rd quarter. State Street Corp now owns 2,946,927 shares of the company’s stock valued at $39,076,000 after purchasing an additional 582,514 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in Burford Capital by 57.5% during the 2nd quarter. Marshall Wace LLP now owns 1,050,754 shares of the company’s stock worth $13,712,000 after buying an additional 383,577 shares during the last quarter.

About Burford Capital

Burford Capital Limited provides legal finance products and services worldwide. The company operates through two segments, Capital Provision, and Asset Management and Other Provision. The Capital Provision segment provides capital to the legal industry or in connection with legal matters directly and through investment in private funds; legal risk management services; lower risk legal finance business focusing on pre-settlement litigation matters with lower risk and lower expected returns; post-settlement finance; and complex strategies in which it acts as a principal and acquires assets that are mispriced.