Burford Capital Limited $BUR Shares Purchased by Onex Canada Asset Management Inc.

Onex Canada Asset Management Inc. increased its stake in Burford Capital Limited (NYSE:BUR) by 15.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,306,902 shares of the company’s stock after purchasing an additional 172,152 shares during the quarter. Burford Capital accounts for 2.0% of Onex Canada Asset Management Inc.’s investment portfolio, making the stock its 17th largest position. Onex Canada Asset Management Inc.’s holdings in Burford Capital were worth $15,631,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BUR. Orbis Allan Gray Ltd increased its stake in Burford Capital by 6.9% in the 2nd quarter. Orbis Allan Gray Ltd now owns 7,732,120 shares of the company’s stock valued at $110,260,000 after purchasing an additional 496,616 shares in the last quarter. Invesco Ltd. boosted its position in Burford Capital by 34.3% during the second quarter. Invesco Ltd. now owns 6,078,537 shares of the company’s stock worth $86,680,000 after purchasing an additional 1,551,357 shares in the last quarter. Bank of Montreal Can grew its holdings in Burford Capital by 9.2% in the third quarter. Bank of Montreal Can now owns 5,432,568 shares of the company’s stock valued at $64,974,000 after purchasing an additional 455,627 shares during the last quarter. Contrarian Capital Management L.L.C. grew its holdings in Burford Capital by 58.2% in the third quarter. Contrarian Capital Management L.L.C. now owns 4,044,998 shares of the company’s stock valued at $48,378,000 after purchasing an additional 1,488,250 shares during the last quarter. Finally, Cooke & Bieler LP increased its position in shares of Burford Capital by 35.2% in the third quarter. Cooke & Bieler LP now owns 3,966,223 shares of the company’s stock valued at $47,436,000 after buying an additional 1,033,114 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Bank of America assumed coverage on shares of Burford Capital in a report on Wednesday, February 18th. They issued a “buy” rating on the stock. Wall Street Zen lowered Burford Capital from a “hold” rating to a “sell” rating in a research note on Sunday, December 21st. Weiss Ratings reissued a “sell (d+)” rating on shares of Burford Capital in a research report on Monday, December 29th. Zacks Research downgraded Burford Capital from a “hold” rating to a “strong sell” rating in a research report on Monday, March 2nd. Finally, Wedbush initiated coverage on Burford Capital in a research note on Friday, February 20th. They set an “outperform” rating and a $14.00 price objective on the stock. Three investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Burford Capital currently has an average rating of “Hold” and a consensus target price of $16.00.

Burford Capital Trading Up 1.6%

Shares of BUR opened at $7.92 on Friday. Burford Capital Limited has a twelve month low of $7.52 and a twelve month high of $15.10. The firm has a market capitalization of $1.73 billion, a P/E ratio of 29.32, a price-to-earnings-growth ratio of 0.20 and a beta of 0.66. The company has a current ratio of 10.93, a quick ratio of 10.93 and a debt-to-equity ratio of 0.68. The stock’s fifty day simple moving average is $9.19 and its 200 day simple moving average is $10.13.

Burford Capital Announces Dividend

The business also recently announced a dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 22nd will be paid a $0.0625 dividend. The ex-dividend date is Friday, May 22nd. This represents a dividend yield of 147.0%. Burford Capital’s dividend payout ratio (DPR) is 44.44%.

Burford Capital Profile

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.