Burford Capital (NYSE:BUR) Shares Gap Down After Analyst Downgrade

Burford Capital Limited (NYSE:BUR – Get Rating)’s share price gapped down prior to trading on Thursday after Wedbush lowered their price target on the stock from $14.00 to $13.00. The stock had previously closed at $7.67, but opened at $6.14. Wedbush currently has an outperform rating on the stock. Burford Capital shares last traded at $6.73, with a volume of 1,238,732 shares traded.

Institutional Investors Weigh In On Burford Capital

Large investors have recently modified their holdings of the stock. Citigroup Inc. boosted its stake in shares of Burford Capital by 273,700.0% during the 1st quarter. Citigroup Inc. now owns 2,738 shares of the company’s stock valued at $25,000 after purchasing an additional 2,737 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Burford Capital during the 4th quarter valued at about $105,000. Guardian Wealth Management Inc. boosted its stake in shares of Burford Capital by 64.5% during the 4th quarter. Guardian Wealth Management Inc. now owns 13,205 shares of the company’s stock valued at $108,000 after purchasing an additional 5,180 shares in the last quarter. Pictet Asset Management SA lifted its position in Burford Capital by 14.0% during the 3rd quarter. Pictet Asset Management SA now owns 16,804 shares of the company’s stock valued at $125,000 after acquiring an additional 2,067 shares during the period. Finally, Marshall Wace LLP purchased a new position in Burford Capital during the 4th quarter valued at about $126,000. Institutional investors own 2.04% of the company’s stock.

Burford Capital Stock Performance

The company has a market capitalization of $1.48 billion and a PE ratio of -56.25. The business’s 50-day moving average is $8.46 and its 200-day moving average is $8.27.

Burford Capital Announces Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Friday, June 16th. Investors of record on Friday, May 26th will be given a dividend of $0.0625 per share. The ex-dividend date of this dividend is Thursday, May 25th. This represents a yield of 3.6%.

Burford Capital Company Profile

(Get Rating)

Burford Capital Ltd. engages in the provision of investment capital, asset management, financing, and risk solutions with a focus on the legal sector. It operates through following segments: Capital Provision, Asset Management, and Services and Other Corporate. The Capital Provision segment includes direct where the company provide capital directly to clients, and indirect where it offers capital by investing through funds that the company manage.