Burford Capital (NYSE:BUR) Trading Down 6.6% – Here’s Why

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

Wall Street Analyst Weigh In

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

Burford Capital Trading Down 5.6%

The firm’s fifty day simple moving average is $4.58 and its 200 day simple moving average is $7.00. The stock has a market capitalization of $866.42 million, a P/E ratio of -0.54, a price-to-earnings-growth ratio of 0.05 and a beta of 1.23. The company has a debt-to-equity ratio of 1.59, a quick ratio of 13.72 and a current ratio of 13.72.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Vident Advisory LLC raised its position in Burford Capital by 4.8% during 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 in the last quarter. GWN Securities Inc. increased its stake in shares of Burford Capital by 15.3% in the 4th quarter. GWN Securities Inc. now owns 12,697 shares of the company’s stock valued at $113,000 after purchasing an additional 1,687 shares during the last quarter. Allegheny Financial Group increased its stake in shares of 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 purchasing an additional 2,227 shares during the last quarter. ProShare Advisors LLC raised its holdings in shares of Burford Capital by 6.9% during the 4th quarter. ProShare Advisors LLC now owns 36,783 shares of the company’s stock worth $328,000 after buying an additional 2,371 shares in the last quarter. Finally, California State Teachers Retirement System lifted its position in shares of Burford Capital by 1.4% during the 3rd quarter. California State Teachers Retirement System now owns 187,646 shares of the company’s stock worth $2,244,000 after buying an additional 2,651 shares during the last quarter.

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.