Northern Trust Corp Sells 36,994 Shares of Burford Capital Limited $BUR

Key Points

• Northern Trust Corp reduced its stake in Burford Capital by 2.9%, now holding approximately 1,219,642 shares valued at $16.1 million.
• CEO Christopher P. Bogart sold 210,000 shares at an average price of $14.60, marking a 42.96% decrease in ownership.
• Burford Capital's recent quarterly earnings beat projections, with $191.29 million in revenue and $0.39 earnings per share, surpassing the consensus estimate of $0.33.

Northern Trust Corp lessened its holdings in shares of Burford Capital Limited (NYSE:BUR - Free Report) by 2.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,219,642 shares of the company's stock after selling 36,994 shares during the quarter. Northern Trust Corp owned approximately 0.56% of Burford Capital worth $16,111,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ridgewood Investments LLC bought a new position in Burford Capital during the first quarter valued at approximately $26,000. Sunbelt Securities Inc. raised its position in Burford Capital by 109.3% during the fourth quarter. Sunbelt Securities Inc. now owns 9,000 shares of the company's stock valued at $114,000 after acquiring an additional 4,700 shares in the last quarter. American Century Companies Inc. bought a new position in Burford Capital during the first quarter valued at approximately $134,000. Summit Securities Group LLC bought a new position in shares of Burford Capital in the first quarter valued at approximately $136,000. Finally, Quantinno Capital Management LP bought a new position in shares of Burford Capital in the fourth quarter valued at approximately $132,000.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wedbush reissued an "outperform" rating and issued a $18.00 price target on shares of Burford Capital in a research report on Thursday, August 14th. Wall Street Zen lowered shares of Burford Capital from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, Burford Capital presently has an average rating of "Buy" and an average price target of $18.00.

Burford Capital Stock Performance

Shares of Burford Capital stock traded down $0.01 during midday trading on Friday, hitting $13.30. The company had a trading volume of 898,984 shares, compared to its average volume of 1,403,598. The business's 50 day simple moving average is $13.70 and its two-hundred day simple moving average is $13.45. The stock has a market cap of $2.91 billion, a PE ratio of 12.31 and a beta of 0.66. The company has a debt-to-equity ratio of 0.55, a current ratio of 10.09 and a quick ratio of 10.09. Burford Capital Limited has a 1-year low of $10.70 and a 1-year high of $15.73.

Burford Capital (NYSE:BUR - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.06. The business had revenue of $191.29 million for the quarter, compared to the consensus estimate of $159.02 million. Burford Capital had a net margin of 37.08% and a return on equity of 7.48%. As a group, equities analysts predict that Burford Capital Limited will post 1.28 EPS for the current fiscal year.

Insider Activity at Burford Capital

In other news, President Aviva O. Will sold 17,500 shares of the firm's stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $14.60, for a total value of $255,500.00. Following the sale, the president owned 293,479 shares in the company, valued at approximately $4,284,793.40. This trade represents a 5.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CIO Jonathan Todd Molot 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 transaction of $3,066,000.00. Following the completion of the sale, the executive owned 3,406,625 shares in the company, valued at approximately $49,736,725. The trade was a 5.81% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 444,500 shares of company stock worth $6,489,700. Insiders own 8.90% of the company's stock.

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.