Burford Capital (NYSE:BUR) Shares Down 5.3% on Analyst Downgrade

Posted by Defense World Staff on Mar 18th, 2023

Burford Capital Limited (NYSE:BUR – Get Rating) traded down 5.3% on Friday after Wedbush lowered their price target on the stock from $14.00 to $13.00. Wedbush currently has an outperform rating on the stock. Burford Capital traded as low as $6.66 and last traded at $6.66. 101,965 shares were traded during mid-day trading, a decline of 72% from the average session volume of 361,624 shares. The stock had previously closed at $7.03.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BUR. Invesco Ltd. bought a new position in Burford Capital in the first quarter valued at approximately $110,137,000. Jane Street Group LLC increased its stake in Burford Capital by 4,092.2% in the first quarter. Jane Street Group LLC now owns 1,031,163 shares of the company’s stock valued at $9,405,000 after acquiring an additional 1,006,566 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Burford Capital by 52.2% in the fourth quarter. JPMorgan Chase & Co. now owns 2,596,470 shares of the company’s stock valued at $21,161,000 after acquiring an additional 890,341 shares during the last quarter. Sycale Advisors NY LLC increased its stake in Burford Capital by 766.7% in the second quarter. Sycale Advisors NY LLC now owns 799,262 shares of the company’s stock valued at $8,064,000 after acquiring an additional 707,041 shares during the last quarter. Finally, Bayberry Capital Partners LP increased its stake in Burford Capital by 12.3% in the third quarter. Bayberry Capital Partners LP now owns 4,740,000 shares of the company’s stock valued at $35,550,000 after acquiring an additional 520,000 shares during the last quarter. 2.04% of the stock is owned by institutional investors.

Burford Capital Stock Down 4.0 %

The business’s 50 day moving average is $8.46 and its 200-day moving average is $8.27. The firm has a market capitalization of $1.48 billion and a P/E ratio of -56.25.

Burford Capital Dividend Announcement

The business also recently announced a semi-annual dividend, which will be paid on Friday, June 16th. Shareholders of record on Friday, May 26th will be paid a dividend of $0.0625 per share. The ex-dividend date is Thursday, May 25th. This represents a dividend yield of 3.6%.

About Burford Capital

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Burford Capital Ltd. engages in the provision of investment capital, asset management, financing, and risk solutions with a focus on the legal sector. It operates through following segments: Capital Provision, Asset Management, and Services and Other Corporate. The Capital Provision segment includes direct where the company provide capital directly to clients, and indirect where it offers capital by investing through funds that the company manage.