Bank of Montreal Can Has $64.97 Million Position in Burford Capital Limited $BUR

Key Points

• Bank of Montreal Can increased its stake in Burford Capital by 9.2% in Q3 to 5,432,568 shares, representing about a 2.48% ownership worth approximately $64.97 million.
• Burford Capital announced a dividend of $0.0625 per share payable June 12 (record date May 22), which the article states implies a 147.0% yield.
• Analyst coverage is mixed: three analysts rate BUR a Buy and two rate it a Sell, giving a MarketBeat consensus rating of Hold with a consensus target price of $16.00.

Bank of Montreal Can grew its holdings in Burford Capital Limited (NYSE:BUR - Free Report) by 9.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,432,568 shares of the company's stock after buying an additional 455,627 shares during the quarter. Bank of Montreal Can owned approximately 2.48% of Burford Capital worth $64,974,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Legal & General Group Plc increased its position in Burford Capital by 3.0% in the 3rd quarter. Legal & General Group Plc now owns 472,699 shares of the company's stock valued at $5,640,000 after acquiring an additional 13,650 shares in the last quarter. CI Investments Inc. lifted its position in shares of Burford Capital by 0.8% during the third quarter. CI Investments Inc. now owns 2,963,789 shares of the company's stock worth $35,447,000 after purchasing an additional 23,692 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Burford Capital during the third quarter worth approximately $804,000. Fifth Lane Capital LP grew its stake in shares of Burford Capital by 169.2% during the third quarter. Fifth Lane Capital LP now owns 35,000 shares of the company's stock valued at $419,000 after purchasing an additional 22,000 shares during the last quarter. Finally, HighTower Advisors LLC grew its stake in shares of Burford Capital by 2.2% during the third quarter. HighTower Advisors LLC now owns 619,171 shares of the company's stock valued at $7,405,000 after purchasing an additional 13,554 shares during the last quarter.

Analysts Set New Price Targets

Several research firms have issued reports on BUR. Wedbush began coverage on Burford Capital in a report on Friday, February 20th. They set an "outperform" rating and a $14.00 price objective on the stock. Zacks Research downgraded Burford Capital from a "hold" rating to a "strong sell" rating in a research report on Monday, March 2nd. Bank of America assumed coverage on Burford Capital in a report on Wednesday, February 18th. They issued a "buy" rating on the stock. Weiss Ratings reiterated a "sell (d+)" rating on shares of Burford Capital in a research report on Monday, December 29th. Finally, Wall Street Zen cut Burford Capital from a "hold" rating to a "sell" rating in a report on Sunday, December 21st. Three research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $16.00.

Burford Capital Stock Performance

BUR stock opened at $7.78 on Friday. Burford Capital Limited has a twelve month low of $7.52 and a twelve month high of $15.10. The company has a quick ratio of 10.93, a current ratio of 10.93 and a debt-to-equity ratio of 0.68. The company has a market cap of $1.70 billion, a P/E ratio of 28.80, a price-to-earnings-growth ratio of 0.21 and a beta of 0.66. The business's fifty day moving average is $9.21 and its 200-day moving average is $10.17.

Burford Capital Announces Dividend

The business also recently announced a dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 22nd will be given a dividend of $0.0625 per share. This represents a dividend yield of 147.0%. The ex-dividend date is Friday, May 22nd. Burford Capital's payout ratio is presently 44.44%.

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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