Wedbush Reiterates Outperform Rating for Burford Capital (NYSE:BUR)

Burford Capital (NYSE:BUR)‘s stock had its “outperform” rating reaffirmed by analysts at Wedbush in a note issued to investors on Friday, Benzinga reports. They currently have a $18.00 target price on the stock. Wedbush’s price objective suggests a potential upside of 39.97% from the company’s current price.

Separately, Jefferies Financial Group restated a “buy” rating and set a $22.50 price objective on shares of Burford Capital in a research note on Tuesday, July 2nd.

Burford Capital Trading Up 2.7 %

Shares of BUR traded up $0.34 during trading hours on Friday, hitting $12.86. The stock had a trading volume of 616,210 shares, compared to its average volume of 1,144,569. The company has a debt-to-equity ratio of 0.58, a quick ratio of 14.17 and a current ratio of 14.17. The firm has a market cap of $2.82 billion, a P/E ratio of 8.99 and a beta of 0.54. The company’s fifty day simple moving average is $13.44 and its 200 day simple moving average is $14.45. Burford Capital has a 12-month low of $12.07 and a 12-month high of $17.70.

Burford Capital (NYSE:BUR) last issued its earnings results on Monday, May 13th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.59). The firm had revenue of $44.30 million during the quarter, compared to analysts’ expectations of $206.00 million. Burford Capital had a return on equity of 10.61% and a net margin of 42.81%. Equities research analysts forecast that Burford Capital will post 1.47 EPS for the current fiscal year.

Institutional Trading of Burford Capital

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC bought a new stake in Burford Capital in the second quarter valued at about $480,000. Forsta AP Fonden increased its holdings in Burford Capital by 27.8% in the second quarter. Forsta AP Fonden now owns 97,686 shares of the company’s stock valued at $1,275,000 after buying an additional 21,245 shares during the last quarter. LGT Group Foundation increased its holdings in Burford Capital by 7.9% in the second quarter. LGT Group Foundation now owns 21,140 shares of the company’s stock valued at $273,000 after buying an additional 1,540 shares during the last quarter. Allegheny Financial Group LTD increased its holdings in Burford Capital by 26.5% in the second quarter. Allegheny Financial Group LTD now owns 26,590 shares of the company’s stock valued at $347,000 after buying an additional 5,578 shares during the last quarter. Finally, Rhumbline Advisers bought a new stake in Burford Capital in the second quarter valued at about $3,844,000.

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.