Burford Capital (NYSE:BUR) Rating Increased to Outperform at Wedbush

Wedbush upgraded shares of Burford Capital (NYSE:BUR - Free Report) to an outperform rating in a research report released on Wednesday, MarketBeat Ratings reports. Wedbush currently has $18.00 price target on the stock.

Burford Capital Price Performance

BUR stock traded down $0.23 during mid-day trading on Wednesday, hitting $12.97. 230,062 shares of the stock were exchanged, compared to its average volume of 995,141. Burford Capital has a 12 month low of $11.17 and a 12 month high of $15.73. The company has a debt-to-equity ratio of 0.54, a current ratio of 15.75 and a quick ratio of 15.75. The business has a fifty day moving average price of $13.35 and a 200 day moving average price of $13.61. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of 11.18 and a beta of 0.59.

Burford Capital (NYSE:BUR - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.16). Burford Capital had a return on equity of 8.07% and a net margin of 34.81%. The company had revenue of $118.86 million during the quarter, compared to the consensus estimate of $157.00 million. On average, sell-side analysts anticipate that Burford Capital will post 1.28 EPS for the current year.

Hedge Funds Weigh In On Burford Capital

Several institutional investors have recently bought and sold shares of the stock. Militia Capital Partners LP bought a new stake in Burford Capital in the first quarter worth about $793,000. Strs Ohio acquired a new stake in shares of Burford Capital in the first quarter worth $55,000. Intech Investment Management LLC boosted its position in Burford Capital by 56.4% in the 1st quarter. Intech Investment Management LLC now owns 114,080 shares of the company's stock worth $1,507,000 after purchasing an additional 41,145 shares in the last quarter. Jane Street Group LLC grew its holdings in Burford Capital by 369.9% in the first quarter. Jane Street Group LLC now owns 201,950 shares of the company's stock valued at $2,667,000 after purchasing an additional 158,973 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Burford Capital by 8.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 458,562 shares of the company's stock worth $6,058,000 after acquiring an additional 35,541 shares during the period.

About Burford Capital

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.