Burford Capital (NYSE:BUR) Raised to “Outperform” at Wedbush

Burford Capital (NYSE:BUR) was upgraded by research analysts at Wedbush to an “outperform” rating in a research report issued to clients and investors on Wednesday, Marketbeat reports. The firm currently has a $18.00 price target on the stock. Wedbush’s price objective would indicate a potential upside of 40.30% from the company’s previous close.

Burford Capital Trading Down 2.8%

Shares of BUR opened at $12.83 on Wednesday. The firm has a market cap of $2.81 billion, a P/E ratio of 11.06 and a beta of 0.59. The company has a 50 day simple moving average of $13.38 and a two-hundred day simple moving average of $13.61. Burford Capital has a 1 year low of $11.17 and a 1 year high of $15.73. The company has a debt-to-equity ratio of 0.54, a current ratio of 15.75 and a quick ratio of 15.75.

Burford Capital (NYSE:BUR) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.16). Burford Capital had a net margin of 34.81% and a return on equity of 8.07%. The firm had revenue of $118.86 million for the quarter, compared to analysts’ expectations of $157.00 million. On average, equities analysts expect that Burford Capital will post 1.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Burford Capital

A number of institutional investors and hedge funds have recently modified their holdings of BUR. Rangeley Capital LLC bought a new stake in shares of Burford Capital during the 4th quarter worth approximately $5,878,000. Gordian Capital Singapore Pte Ltd grew its position in shares of Burford Capital by 149.9% in the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 112,200 shares of the company’s stock worth $1,431,000 after buying an additional 67,300 shares during the last quarter. Grandeur Peak Global Advisors LLC purchased a new position in Burford Capital in the fourth quarter worth $2,229,000. BNP Paribas Financial Markets acquired a new position in Burford Capital during the 4th quarter valued at about $335,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Burford Capital by 96.6% during the fourth quarter. JPMorgan Chase & Co. now owns 549,355 shares of the company’s stock valued at $7,004,000 after acquiring an additional 269,928 shares in the last quarter.

About Burford Capital

Burford Capital Limited 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; legal risk management services; lower risk legal finance business focusing on pre-settlement litigation matters with lower risk and lower expected returns; post-settlement finance; and complex strategies in which it acts as a principal and acquires assets that are mispriced.