CI Investments Inc. Trims Holdings in Burford Capital Limited $BUR

Key Points

• CI Investments Inc. reduced its Burford Capital stake by 11.1% in the first quarter, selling 285,922 shares and ending with 2,290,496 shares worth about $10.35 million.
• Other institutional investors were active in the name as well, with several firms adding new positions or sharply increasing their holdings, including KBC Group NV and HSBC Holdings PLC.
• Analyst sentiment is mixed but leans cautious: Burford Capital currently has a Hold consensus rating, with an average price target of $9.33, while recent reports included both upgrades and downgrades.

CI Investments Inc. cut its stake in Burford Capital Limited (NYSE:BUR - Free Report) by 11.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,290,496 shares of the company's stock after selling 285,922 shares during the period. CI Investments Inc. owned 1.05% of Burford Capital worth $10,353,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Arbiter Partners Capital Management LLC bought a new stake in Burford Capital in the first quarter valued at about $122,000. KBC Group NV increased its holdings in shares of Burford Capital by 8,916.0% in the 1st quarter. KBC Group NV now owns 640,497 shares of the company's stock valued at $2,895,000 after acquiring an additional 633,393 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Burford Capital during the 1st quarter valued at approximately $1,626,000. Y Intercept Hong Kong Ltd raised its position in shares of Burford Capital by 181.8% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 217,931 shares of the company's stock valued at $985,000 after acquiring an additional 140,595 shares in the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Burford Capital during the first quarter worth $2,226,000.

Analyst Ratings Changes

BUR has been the subject of several recent research reports. B. Riley Financial reiterated a "buy" rating on shares of Burford Capital in a research note on Thursday, May 14th. Weiss Ratings lowered shares of Burford Capital from a "sell (d+)" rating to a "sell (d-)" rating in a research note on Monday, May 11th. Wedbush lifted their target price on Burford Capital from $4.75 to $5.00 and gave the company a "neutral" rating in a research note on Monday, May 11th. Deutsche Bank Aktiengesellschaft lowered Burford Capital from a "buy" rating to a "hold" rating and set a $5.00 target price for the company. in a report on Monday, May 11th. Finally, Wall Street Zen downgraded Burford Capital from a "sell" rating to a "strong sell" rating in a report on Saturday, May 16th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $9.33.

Burford Capital Stock Performance

Shares of NYSE BUR opened at $4.17 on Thursday. The stock's fifty day simple moving average is $4.34 and its 200 day simple moving average is $6.38. The stock has a market capitalization of $914.62 million, a price-to-earnings ratio of -0.57, a PEG ratio of 0.05 and a beta of 1.26. The company has a quick ratio of 13.72, a current ratio of 13.72 and a debt-to-equity ratio of 1.59. Burford Capital Limited has a 52-week low of $3.59 and a 52-week high of $14.14.

Burford Capital Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.