Capricorn Fund Managers Ltd Buys Shares of 20,000 Burford Capital Limited (NYSE:BUR)

Key Points

• Capricorn Fund Managers Ltd purchased 20,000 shares of Burford Capital Limited, valued at approximately $264,000, during the first quarter of the fiscal year.
• Burford Capital reported earnings of $0.14 per share, missing analysts' expectations, with revenues of $118.86 million compared to the anticipated $157 million.
• Insider trading activity included CEO Christopher P. Bogart selling 210,000 shares for $3.07 million, resulting in a significant decrease in his ownership percentage.

Capricorn Fund Managers Ltd bought a new position in shares of Burford Capital Limited (NYSE:BUR - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 20,000 shares of the company's stock, valued at approximately $264,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Rangeley Capital LLC acquired a new stake in Burford Capital during the fourth quarter valued at approximately $5,878,000. Gordian Capital Singapore Pte Ltd boosted its holdings in Burford Capital by 149.9% during the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 112,200 shares of the company's stock valued at $1,431,000 after purchasing an additional 67,300 shares in the last quarter. Millennium Management LLC acquired a new stake in Burford Capital during the fourth quarter valued at approximately $273,000. Grandeur Peak Global Advisors LLC acquired a new stake in Burford Capital during the fourth quarter valued at approximately $2,229,000. Finally, BNP Paribas Financial Markets acquired a new stake in Burford Capital during the fourth quarter valued at approximately $335,000.

Burford Capital Price Performance

Shares of NYSE:BUR traded down $0.43 during trading on Friday, reaching $12.42. The stock had a trading volume of 1,809,439 shares, compared to its average volume of 1,549,082. Burford Capital Limited has a 52 week low of $10.70 and a 52 week high of $15.73. The business's 50-day moving average price is $13.10 and its 200 day moving average price is $13.61. The company has a debt-to-equity ratio of 0.56, a current ratio of 13.27 and a quick ratio of 13.27. The stock has a market capitalization of $2.72 billion, a PE ratio of 13.35 and a beta of 0.66.

Burford Capital (NYSE:BUR - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.30 by ($0.16). Burford Capital had a net margin of 33.41% and a return on equity of 6.41%. The firm had revenue of $118.86 million during the quarter, compared to the consensus estimate of $157.00 million. As a group, equities analysts predict that Burford Capital Limited will post 1.28 earnings per share for the current year.

Insider Activity at Burford Capital

In related news, CEO Christopher P. Bogart sold 210,000 shares of the business's stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $14.60, for a total value of $3,066,000.00. Following the completion of the transaction, the chief executive officer owned 278,862 shares in the company, valued at $4,071,385.20. The trade was a 42.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider David Perla sold 7,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the insider owned 80,172 shares of the company's stock, valued at $1,170,511.20. This trade represents a 8.03% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 444,500 shares of company stock worth $6,489,700. Company insiders own 8.90% of the company's stock.

Analyst Upgrades and Downgrades

BUR has been the topic of a number of recent research reports. Wall Street Zen raised Burford Capital from a "hold" rating to a "buy" rating in a report on Saturday. Wedbush upgraded shares of Burford Capital to an "outperform" rating and set a $18.00 target price for the company in a research note on Wednesday, June 11th.

Burford Capital Company Profile

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.