Federated Hermes Inc. Sells 92,865 Shares of Burford Capital Limited (NYSE:BUR)

Key Points

• Federated Hermes Inc. has reduced its stake in Burford Capital Limited by 19% after selling 92,865 shares, now holding approximately 395,235 shares valued at $5.2 million.
• Recent trades by insiders included a notable sale of 210,000 shares by Chief Investment Officer Jonathan Todd Molot, totaling over $3 million, indicating a 5.81% decrease in his ownership.
• Burford Capital's stock is currently valued at around $12.42, with analysts predicting a growth, as evidenced by upgrades to an “outperform” rating by Wedbush and a “buy” rating by Wall Street Zen.

Federated Hermes Inc. reduced its holdings in shares of Burford Capital Limited (NYSE:BUR - Free Report) by 19.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 395,235 shares of the company's stock after selling 92,865 shares during the period. Federated Hermes Inc. owned about 0.18% of Burford Capital worth $5,221,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Ridgewood Investments LLC purchased a new position in Burford Capital during the 1st quarter worth $26,000. Sterling Capital Management LLC increased its holdings in Burford Capital by 820.4% during the 4th quarter. Sterling Capital Management LLC now owns 6,314 shares of the company's stock worth $81,000 after purchasing an additional 5,628 shares during the period. Sunbelt Securities Inc. increased its holdings in Burford Capital by 109.3% during the 4th quarter. Sunbelt Securities Inc. now owns 9,000 shares of the company's stock worth $114,000 after purchasing an additional 4,700 shares during the period. Quantinno Capital Management LP purchased a new position in Burford Capital during the 4th quarter worth $132,000. Finally, Mariner LLC purchased a new position in Burford Capital during the 4th quarter worth $142,000.

Insider Buying and Selling

In related news, insider David Perla sold 7,000 shares of the business'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. The trade was a 8.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CIO Jonathan Todd Molot sold 210,000 shares of the business'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 executive owned 3,406,625 shares in the company, valued at approximately $49,736,725. This trade represents a 5.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 444,500 shares of company stock valued at $6,489,700. 8.90% of the stock is owned by insiders.

Burford Capital Trading Down 3.3%

Shares of NYSE:BUR opened at $12.42 on Monday. Burford Capital Limited has a 12-month low of $10.70 and a 12-month high of $15.73. The business's fifty day simple moving average is $13.10 and its 200-day simple moving average is $13.62. The company has a market capitalization of $2.72 billion, a PE ratio of 13.35 and a beta of 0.65. The company has a current ratio of 13.27, a quick ratio of 13.27 and a debt-to-equity ratio of 0.56.

Burford Capital (NYSE:BUR - Get Free Report) last announced its quarterly 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 company had revenue of $118.86 million during the quarter, compared to analysts' expectations of $157.00 million. As a group, equities research analysts predict that Burford Capital Limited will post 1.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Wedbush upgraded Burford Capital to an "outperform" rating and set a $18.00 price objective on the stock in a report on Wednesday, June 11th. Wall Street Zen upgraded Burford Capital from a "hold" rating to a "buy" rating in a report on Saturday.

Burford Capital 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.

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