Burford Capital (NYSE:BUR) Coverage Initiated by Analysts at Wedbush

Research analysts at Wedbush initiated coverage on shares of Burford Capital (NYSE:BUR) in a note issued to investors on Thursday, Benzinga reports. The firm set a “neutral” rating and a $3.65 price target on the stock. Wedbush‘s price target points to a potential upside of 7.83% from the company’s current price.

Several other analysts have also commented on BUR. Weiss Ratings reissued a “sell (d-)” rating on shares of Burford Capital in a research report on Friday, August 7th. Wall Street Zen upgraded shares of Burford Capital from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 8th. Finally, Zacks Research upgraded shares of Burford Capital from a “strong sell” rating to a “hold” rating in a research note on Friday, October 9th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.88.

Burford Capital Stock Performance

BUR stock traded up $0.07 during midday trading on Thursday, hitting $3.38. 2,474,297 shares of the company traded hands, compared to its average volume of 2,621,371. The business has a 50 day simple moving average of $3.86 and a 200-day simple moving average of $5.51. The company has a quick ratio of 9.56, a current ratio of 9.56 and a debt-to-equity ratio of 1.64. Burford Capital has a twelve month low of $2.86 and a twelve month high of $11.07. The stock has a market capitalization of $743.29 million, a price-to-earnings ratio of -0.44 and a beta of 1.25.

Burford Capital (NYSE:BUR) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.07). During the same quarter in the prior year, the company earned $0.39 EPS. As a group, equities research analysts predict that Burford Capital will post 1.49 earnings per share for the current year.

Hedge Funds Weigh In On Burford Capital

Several large investors have recently bought and sold shares of BUR. Solas Capital Management LLC boosted its holdings in Burford Capital by 23.4% in the second quarter. Solas Capital Management LLC now owns 1,210,944 shares of the company’s stock valued at $4,965,000 after acquiring an additional 230,000 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Burford Capital by 15.2% in the first quarter. Renaissance Technologies LLC now owns 958,500 shares of the company’s stock worth $4,332,000 after purchasing an additional 126,500 shares during the period. Empowered Funds LLC grew its position in shares of Burford Capital by 6.0% in the 1st quarter. Empowered Funds LLC now owns 761,609 shares of the company’s stock valued at $3,442,000 after acquiring an additional 42,951 shares during the period. KBC Group NV increased its stake in shares of Burford Capital by 8,916.0% in the 1st quarter. KBC Group NV now owns 640,497 shares of the company’s stock valued at $2,895,000 after purchasing an additional 633,393 shares during the last quarter. Finally, Odyssean LLC bought a new position in shares of Burford Capital during the 2nd quarter worth approximately $2,512,000.

About Burford Capital

Burford Capital Limited (NYSE: BUR) is a global legal finance and asset management firm. The company provides capital to businesses and law firms involved in commercial litigation and arbitration, allowing clients to finance legal expenses, manage risk, or access the potential value of legal claims and judgments without relying solely on their balance sheets.

Its services include single-case and portfolio litigation finance, post-settlement and judgment monetization, legal asset management, and corporate legal finance.