Burford Capital (NYSE:BUR) Sees Unusually-High Trading Volume on Analyst Upgrade

Burford Capital Limited (NYSE:BUR) saw unusually-strong trading volume on Monday after B. Riley raised their price target on the stock from $18.00 to $20.00. Approximately 426,117 shares traded hands during mid-day trading, a decline of 37% from the previous session’s volume of 671,934 shares.The stock last traded at $16.00 and had previously closed at $15.91.

A number of other research firms have also recently issued reports on BUR. StockNews.com started coverage on Burford Capital in a report on Wednesday, August 23rd. They issued a “hold” rating for the company. Berenberg Bank started coverage on Burford Capital in a report on Thursday, June 22nd. They issued a “buy” rating for the company.

Institutional Investors Weigh In On Burford Capital

Several institutional investors have recently bought and sold shares of BUR. Invesco Ltd. bought a new position in Burford Capital during the 1st quarter valued at approximately $110,137,000. Bank of Montreal Can bought a new position in Burford Capital during the 2nd quarter valued at approximately $1,831,748,000. Helikon Investments Ltd bought a new position in Burford Capital during the 2nd quarter valued at approximately $18,210,000. Citigroup Inc. raised its position in Burford Capital by 17,873.7% during the 2nd quarter. Citigroup Inc. now owns 1,190,579 shares of the company’s stock valued at $14,508,000 after purchasing an additional 1,183,955 shares during the last quarter. Finally, Greenhaven Road Investment Management L.P. bought a new position in Burford Capital during the 1st quarter valued at approximately $11,849,000.

Burford Capital Price Performance

The business has a 50-day simple moving average of $13.25 and a 200 day simple moving average of $12.74. The company has a current ratio of 6.31, a quick ratio of 6.31 and a debt-to-equity ratio of 0.48.

Burford Capital (NYSE:BUR) last released its quarterly earnings results on Tuesday, June 13th. The company reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.91. The business had revenue of $380.91 million for the quarter, compared to the consensus estimate of $113.70 million. Equities research analysts forecast that Burford Capital Limited will post 2.16 EPS for the current fiscal year.

Burford Capital Company Profile

Burford Capital Limited, through its subsidiaries, 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.