Millennium Management LLC Acquires New Stake in Burford Capital Limited (NYSE:BUR)

Millennium Management LLC acquired a new position in shares of Burford Capital Limited (NYSE:BUR - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 21,426 shares of the company's stock, valued at approximately $273,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Breach Inlet Capital Management LLC purchased a new position in Burford Capital in the 4th quarter worth $12,147,000. Proficio Capital Partners LLC lifted its stake in Burford Capital by 553.8% in the fourth quarter. Proficio Capital Partners LLC now owns 963,122 shares of the company's stock worth $12,280,000 after acquiring an additional 815,812 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Burford Capital by 22.8% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,727,735 shares of the company's stock valued at $47,529,000 after buying an additional 691,269 shares during the period. Rovida Investment Management Ltd bought a new position in Burford Capital in the fourth quarter worth $7,449,000. Finally, Rangeley Capital LLC bought a new position in shares of Burford Capital in the 4th quarter worth about $5,878,000.

Burford Capital Stock Down 2.8%

Shares of BUR traded down $0.37 on Thursday, hitting $12.83. 679,018 shares of the stock traded hands, compared to its average volume of 997,775. Burford Capital Limited has a one year low of $11.17 and a one year high of $15.73. The company has a market capitalization of $2.81 billion, a PE ratio of 11.06 and a beta of 0.59. The business has a 50 day simple moving average of $13.35 and a 200 day simple moving average of $13.61. The company has a debt-to-equity ratio of 0.54, a quick ratio of 15.75 and a current ratio of 15.75.

Burford Capital (NYSE:BUR - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.16). The business had revenue of $118.86 million during the quarter, compared to analysts' expectations of $157.00 million. Burford Capital had a return on equity of 8.07% and a net margin of 34.81%. As a group, equities analysts forecast that Burford Capital Limited will post 1.28 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Wedbush raised shares of Burford Capital to an "outperform" rating and set a $18.00 price objective on the stock in a research note on Wednesday.

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.