Northern Trust Corp Reduces Position in 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 reduced its position in shares of Burford Capital Limited (NYSE:BUR - Free Report) by 2.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,219,642 shares of the company's stock after selling 36,994 shares during the period. Northern Trust Corp owned 0.56% of Burford Capital worth $16,111,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Gordian Capital Singapore Pte Ltd lifted its holdings in Burford Capital by 149.9% in the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 112,200 shares of the company's stock worth $1,431,000 after buying an additional 67,300 shares during the period. Millennium Management LLC purchased a new stake in Burford Capital in the fourth quarter worth about $273,000. BNP Paribas Financial Markets purchased a new stake in Burford Capital in the fourth quarter worth about $335,000. Edgestream Partners L.P. purchased a new stake in Burford Capital in the first quarter worth about $284,000. Finally, Invesco Ltd. lifted its holdings in Burford Capital by 0.8% in the first quarter. Invesco Ltd. now owns 4,527,180 shares of the company's stock worth $59,804,000 after buying an additional 34,228 shares during the period.

Analyst Ratings Changes

Several brokerages have commented on BUR. Wedbush restated an "outperform" rating and issued a $18.00 price objective on shares of Burford Capital in a report on Thursday, August 14th. Wall Street Zen lowered shares of Burford Capital from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $18.00.

Insider Activity

In related news, CEO Christopher P. Bogart sold 210,000 shares of the firm'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 sale, the chief executive officer owned 278,862 shares in the company, valued at approximately $4,071,385.20. This trade represents a 42.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Aviva O. Will sold 17,500 shares of the firm'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 $255,500.00. Following the completion of the sale, the president owned 293,479 shares in the company, valued at $4,284,793.40. This represents a 5.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold 444,500 shares of company stock worth $6,489,700 over the last three months. 8.90% of the stock is currently owned by insiders.

Burford Capital Stock Down 0.1%

Shares of BUR traded down $0.01 on Friday, hitting $13.30. 898,984 shares of the stock traded hands, compared to its average volume of 1,378,464. The company has a market capitalization 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 quick ratio of 10.09 and a current ratio of 10.09. The business has a 50 day simple moving average of $13.67 and a 200 day simple moving average of $13.49. Burford Capital Limited has a one year low of $10.70 and a one year high of $15.73.

Burford Capital (NYSE:BUR - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.06. The company had revenue of $191.29 million during 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 forecast that Burford Capital Limited will post 1.28 earnings per share for the current fiscal year.

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.