Bank of America Corp DE Sells 305,933 Shares of Burford Capital Limited $BUR

Key Points

• Bank of America reduced its Burford Capital stake by 32.2% in the first quarter, selling 305,933 shares and retaining 643,160 shares valued at approximately $2.9 million.
• Other institutions were generally buyers, with Millennium Management increasing its position nearly 2,968% and Jane Street Group expanding its holdings by roughly 370%.
• Burford shares opened at $4.14 after declining 5%, while the company reported quarterly EPS of $0.01—below the $0.08 consensus estimate. Analyst sentiment remains mixed, with an average “Hold” rating and a $9.33 consensus price target.

Bank of America Corp DE trimmed its stake in Burford Capital Limited (NYSE:BUR - Free Report) by 32.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 643,160 shares of the company's stock after selling 305,933 shares during the period. Bank of America Corp DE owned about 0.29% of Burford Capital worth $2,907,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Burford Capital by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 119,261 shares of the company's stock valued at $1,575,000 after acquiring an additional 5,229 shares during the period. Millennium Management LLC lifted its position in shares of Burford Capital by 2,967.7% in the 1st quarter. Millennium Management LLC now owns 657,283 shares of the company's stock worth $8,683,000 after acquiring an additional 635,857 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Burford Capital by 14.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,206,303 shares of the company's stock worth $15,935,000 after purchasing an additional 152,792 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Burford Capital by 8.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 458,562 shares of the company's stock worth $6,058,000 after purchasing an additional 35,541 shares in the last quarter. Finally, Jane Street Group LLC increased its position in shares of Burford Capital by 369.9% during the first quarter. Jane Street Group LLC now owns 201,950 shares of the company's stock valued at $2,667,000 after purchasing an additional 158,973 shares during the period.

Burford Capital Trading Down 5.0%

Shares of BUR opened at $4.14 on Tuesday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 9.56 and a current ratio of 9.56. The company has a market cap of $909.06 million, a price-to-earnings ratio of -0.54, a PEG ratio of 0.05 and a beta of 1.25. The stock has a fifty day moving average price of $4.23 and a two-hundred day moving average price of $5.35. Burford Capital Limited has a 52-week low of $3.59 and a 52-week high of $14.05.

Burford Capital (NYSE:BUR - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.07). Burford Capital had a return on equity of 10.24% and a net margin of 15.14%.During the same period in the prior year, the firm posted $0.39 EPS. Analysts predict that Burford Capital Limited will post 2.11 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on BUR. Wall Street Zen raised shares of Burford Capital from a "strong sell" rating to a "sell" rating in a report on Saturday, August 8th. B. Riley Financial reaffirmed a "buy" rating on shares of Burford Capital in a report on Thursday, May 14th. Deutsche Bank Aktiengesellschaft lowered shares of Burford Capital from a "buy" rating to a "hold" rating and set a $5.00 target price on the stock. in a research report on Monday, May 11th. Wedbush upped their target price on shares of Burford Capital from $4.75 to $5.00 and gave the company a "neutral" rating in a research note on Monday, May 11th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Burford Capital in a research note on Friday, August 7th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Burford Capital currently has an average rating of "Hold" and a consensus target price of $9.33.

About Burford Capital

Burford Capital NYSE: BUR is a leading global finance firm that specializes in litigation and arbitration funding, risk management, and asset recovery. The company provides capital to law firms and corporate clients to finance legal fees and associated costs in commercial disputes. In exchange for funding, Burford shares in any awards or settlements, enabling clients to pursue meritorious claims without bearing upfront legal expenses.

Founded in 2009 by Christopher Bogart, Burford was among the first firms to establish a dedicated litigation finance business.

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