Solas Capital Management LLC Has $4.96 Million Holdings in Burford Capital Limited $BUR

Key Points

• Solas Capital Management increased its Burford Capital stake by 23.4% in the second quarter to 1.21 million shares, valued at approximately $4.96 million and representing 0.55% of the company.
• Burford Capital’s shares opened at $4.47, near the lower end of their 52-week range, while the company reported quarterly EPS of $0.01—below the $0.08 analyst consensus.
• Analyst sentiment remains mixed, with ratings split among Buy, Hold, and Sell; the overall consensus is Hold, with a price target of $9.33.

Solas Capital Management LLC raised its holdings in Burford Capital Limited (NYSE:BUR - Free Report) by 23.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,210,944 shares of the company's stock after acquiring an additional 230,000 shares during the quarter. Burford Capital comprises approximately 2.7% of Solas Capital Management LLC's holdings, making the stock its 15th largest position. Solas Capital Management LLC owned about 0.55% of Burford Capital worth $4,965,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Orbis Allan Gray Ltd increased its position in Burford Capital by 31.1% in the 4th quarter. Orbis Allan Gray Ltd now owns 12,051,544 shares of the company's stock worth $107,500,000 after buying an additional 2,859,722 shares during the period. Ameriprise Financial Inc. increased its position in shares of Burford Capital by 2.5% during the third quarter. Ameriprise Financial Inc. now owns 9,418,521 shares of the company's stock valued at $107,170,000 after purchasing an additional 229,979 shares during the period. Bank of Montreal Can lifted its position in Burford Capital by 24.8% in the fourth quarter. Bank of Montreal Can now owns 6,779,231 shares of the company's stock worth $60,471,000 after purchasing an additional 1,346,663 shares during the period. Cooke & Bieler LP raised its stake in shares of Burford Capital by 31.0% in the 4th quarter. Cooke & Bieler LP now owns 5,194,551 shares of the company's stock valued at $46,335,000 after buying an additional 1,228,328 shares in the last quarter. Finally, Greenlea Lane Capital Management LLC lifted its holdings in shares of Burford Capital by 325.4% during the 2nd quarter. Greenlea Lane Capital Management LLC now owns 3,362,322 shares of the company's stock worth $45,724,000 after acquiring an additional 2,571,917 shares during the period.

Burford Capital Stock Up 1.0%

Shares of Burford Capital stock opened at $4.47 on Thursday. Burford Capital Limited has a 1 year low of $3.59 and a 1 year high of $13.10. The company has a debt-to-equity ratio of 1.64, a current ratio of 9.56 and a quick ratio of 9.56. The company has a market capitalization of $982.62 million, a P/E ratio of -0.58, a price-to-earnings-growth ratio of 0.08 and a beta of 1.25. The business has a 50-day moving average of $4.26 and a two-hundred day moving average of $5.10.

Burford Capital (NYSE:BUR - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.07). Burford Capital had a net margin of 15.14% and a return on equity of 10.24%. During the same quarter last year, the firm posted $0.39 earnings per share. As a group, equities analysts predict that Burford Capital Limited will post 1.55 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BUR. Weiss Ratings restated a "sell (d-)" rating on shares of Burford Capital in a research note on Friday, August 7th. Wall Street Zen raised Burford Capital from a "strong sell" rating to a "sell" rating in a report on Saturday, August 8th. Zacks Research lowered shares of Burford Capital from a "hold" rating to a "strong sell" rating in a research report on Monday, August 10th. Finally, B. Riley Financial reiterated a "buy" rating on shares of Burford Capital in a research note on Thursday, May 14th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $9.33.

About Burford Capital

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.

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