45,500 Shares in Burford Capital Limited $BUR Acquired by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS bought 45,500 shares of Burford Capital Limited (NYSE:BUR) for about $649,000 during the second quarter.
• Burford Capital reported a net margin of 37.08% and earnings of $0.39 per share, exceeding the expected $0.33 EPS in their latest quarterly earnings.
• The company announced a semi-annual dividend of $0.0625 per share, with a dividend yield of approximately 103.0% and a payout ratio of 11.11%.

KLP Kapitalforvaltning AS purchased a new position in Burford Capital Limited (NYSE:BUR - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 45,500 shares of the company's stock, valued at approximately $649,000.

Several other hedge funds have also made changes to their positions in BUR. Ridgewood Investments LLC acquired a new stake in shares of Burford Capital in the first quarter valued at approximately $26,000. Strs Ohio acquired a new position in shares of Burford Capital during the first quarter valued at approximately $55,000. Ieq Capital LLC acquired a new position in shares of Burford Capital during the first quarter valued at approximately $132,000. American Century Companies Inc. acquired a new position in Burford Capital in the first quarter worth approximately $134,000. Finally, Summit Securities Group LLC acquired a new position in Burford Capital in the first quarter worth approximately $136,000.

Burford Capital Stock Performance

NYSE:BUR opened at $10.72 on Friday. The firm's 50-day moving average is $12.71 and its 200-day moving average is $13.05. Burford Capital Limited has a 52-week low of $10.68 and a 52-week high of $15.73. The company has a debt-to-equity ratio of 0.55, a quick ratio of 10.09 and a current ratio of 10.09. The company has a market cap of $2.34 billion, a price-to-earnings ratio of 9.92 and a beta of 0.58.

Burford Capital (NYSE:BUR - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.06. Burford Capital had a net margin of 37.08% and a return on equity of 7.48%. The company had revenue of $191.29 million for the quarter, compared to the consensus estimate of $159.02 million. Equities research analysts anticipate that Burford Capital Limited will post 1.28 earnings per share for the current year.

Burford Capital Dividend Announcement

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, December 4th. Stockholders of record on Friday, October 31st will be issued a dividend of $0.0625 per share. The ex-dividend date is Friday, October 31st. This represents a dividend yield of 103.0%. Burford Capital's payout ratio is presently 11.11%.

Analysts Set New Price Targets

BUR has been the subject of a number of recent analyst reports. Wedbush reaffirmed an "outperform" rating and issued a $18.00 price objective on shares of Burford Capital in a research note on Thursday, August 14th. B. Riley raised shares of Burford Capital to a "strong-buy" rating in a research note on Thursday. Wall Street Zen lowered shares of Burford Capital from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Burford Capital in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $18.00.

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.

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