Burford Capital Limited $BUR Shares Acquired by Capricorn Fund Managers Ltd

Key Points

• Capricorn Fund Managers Ltd significantly increased its stake in Burford Capital by 400% during Q2, acquiring an additional 80,000 shares, now totaling 100,000 shares worth $1.426 million.
• Burford Capital announced a semi-annual dividend of $0.0625 per share, which is set to yield 103.0%, payable on December 4th to shareholders on record by October 31st.
• Burford Capital's stock saw a slight decline of 0.2% recently, with shares trading at $11.91, and the company reported earnings surpassing analysts' estimates with $0.39 EPS for the last quarter.

Capricorn Fund Managers Ltd increased its holdings in Burford Capital Limited (NYSE:BUR - Free Report) by 400.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 100,000 shares of the company's stock after acquiring an additional 80,000 shares during the quarter. Capricorn Fund Managers Ltd's holdings in Burford Capital were worth $1,426,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of BUR. Contrarian Capital Management L.L.C. acquired a new position in shares of Burford Capital in the first quarter worth about $32,586,000. Cooke & Bieler LP acquired a new position in shares of Burford Capital in the first quarter worth about $24,761,000. Orbis Allan Gray Ltd lifted its stake in shares of Burford Capital by 10.3% in the first quarter. Orbis Allan Gray Ltd now owns 7,235,504 shares of the company's stock worth $95,581,000 after acquiring an additional 677,271 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Burford Capital by 2,967.7% in the first 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 in the last quarter. Finally, Breach Inlet Capital Management LLC raised its stake in Burford Capital by 43.1% during the first quarter. Breach Inlet Capital Management LLC now owns 1,363,600 shares of the company's stock valued at $18,013,000 after buying an additional 410,895 shares in the last quarter.

Insider Buying and Selling

In related news, CIO Jonathan Todd Molot sold 210,000 shares of the stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $14.60, for a total value of $3,066,000.00. Following the completion of the transaction, the executive directly owned 3,406,625 shares of the company's stock, valued at $49,736,725. This represents a 5.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Aviva O. Will sold 17,500 shares of the stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $14.60, for a total value of $255,500.00. Following the completion of the transaction, the president directly owned 293,479 shares of the company's stock, valued at $4,284,793.40. This trade represents a 5.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 444,500 shares of company stock valued at $6,489,700 over the last quarter. Company insiders own 8.90% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BUR shares. Wedbush restated an "outperform" rating and set a $18.00 price objective on shares of Burford Capital in a research note on Thursday, August 14th. Wall Street Zen cut Burford Capital from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Burford Capital in a research note on Saturday, September 27th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Burford Capital currently has an average rating of "Buy" and a consensus price target of $18.00.

Burford Capital Stock Down 0.2%

Shares of Burford Capital stock opened at $11.91 on Friday. The company has a current ratio of 10.09, a quick ratio of 10.09 and a debt-to-equity ratio of 0.55. The business's 50 day simple moving average is $13.05 and its 200-day simple moving average is $13.22. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of 11.02 and a beta of 0.58. Burford Capital Limited has a twelve month low of $10.70 and a twelve month high of $15.73.

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

Burford Capital Announces Dividend

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

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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