HighTower Advisors LLC grew its stake in shares of Burford Capital Limited (NYSE:BUR - Free Report) by 75.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 565,149 shares of the company's stock after acquiring an additional 242,304 shares during the quarter. HighTower Advisors LLC owned about 0.26% of Burford Capital worth $7,466,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Invesco Ltd. increased its stake in shares of Burford Capital by 0.8% during the 1st quarter. Invesco Ltd. now owns 4,527,180 shares of the company's stock valued at $59,804,000 after acquiring an additional 34,228 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Burford Capital by 1.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 487,333 shares of the company's stock worth $6,438,000 after purchasing an additional 5,272 shares in the last quarter. DCF Advisers LLC acquired a new stake in Burford Capital during the 1st quarter worth approximately $277,000. XTX Topco Ltd acquired a new stake in Burford Capital during the 1st quarter worth approximately $1,312,000. Finally, Capricorn Fund Managers Ltd acquired a new stake in Burford Capital during the 1st quarter worth approximately $264,000.
Insiders Place Their Bets
In related news, insider David Perla sold 7,000 shares of the firm's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $14.60, for a total transaction of $102,200.00. Following the transaction, the insider directly owned 80,172 shares in the company, valued at $1,170,511.20. This trade represents a 8.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Christopher P. Bogart sold 210,000 shares of the firm's stock in a transaction 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 transaction, the chief executive officer owned 278,862 shares in the company, valued at $4,071,385.20. This trade represents a 42.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 444,500 shares of company stock valued at $6,489,700. Corporate insiders own 8.90% of the company's stock.
Burford Capital Stock Up 1.6%
NYSE BUR opened at $13.61 on Tuesday. The stock has a market cap of $2.98 billion, a PE ratio of 12.60 and a beta of 0.65. The business has a 50 day moving average price of $13.16 and a two-hundred day moving average price of $13.56. Burford Capital Limited has a fifty-two week low of $10.70 and a fifty-two week high of $15.73. The company has a quick ratio of 10.09, a current ratio of 10.09 and a debt-to-equity ratio of 0.55.
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, beating analysts' consensus estimates of $0.33 by $0.06. The company had revenue of $191.29 million for the quarter, compared to analyst estimates of $159.02 million. Burford Capital had a net margin of 37.08% and a return on equity of 7.48%. As a group, sell-side analysts predict that Burford Capital Limited will post 1.28 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the stock. Wedbush reissued an "outperform" rating and set a $18.00 target price on shares of Burford Capital in a research report on Thursday, August 14th. Wall Street Zen downgraded shares of Burford Capital from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th.
Check Out Our Latest Report on Burford Capital
About Burford Capital
(
Free Report)
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.
See Also
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