Burford Capital (NYSE:BUR) Cut to Strong Sell at Zacks Research

Burford Capital (NYSE:BUR) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

BUR has been the topic of a number of other reports. Wall Street Zen cut shares of Burford Capital from a “hold” rating to a “sell” rating in a report on Sunday, December 21st. Wedbush began coverage on shares of Burford Capital in a research report on Friday, February 20th. They set an “outperform” rating and a $14.00 target price for the company. Bank of America started coverage on shares of Burford Capital in a research note on Wednesday, February 18th. They issued a “buy” rating for the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Burford Capital in a research report on Monday, December 29th. Finally, B. Riley Financial reiterated a “buy” rating and set a $18.00 price objective (down from $20.00) on shares of Burford Capital in a report on Tuesday, November 11th. Three research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $16.00.

Burford Capital Price Performance

Shares of BUR stock opened at $8.54 on Monday. The stock’s 50-day moving average is $9.34 and its 200 day moving average is $10.40. Burford Capital has a 1-year low of $8.12 and a 1-year high of $15.10. The company has a debt-to-equity ratio of 0.68, a current ratio of 10.93 and a quick ratio of 10.93. The company has a market cap of $1.87 billion, a P/E ratio of 31.61, a PEG ratio of 0.19 and a beta of 0.66.

Institutional Investors Weigh In On Burford Capital

A number of large investors have recently made changes to their positions in the stock. Orbis Allan Gray Ltd lifted its position in Burford Capital by 31.1% during the 4th quarter. Orbis Allan Gray Ltd now owns 12,051,544 shares of the company’s stock worth $107,500,000 after acquiring an additional 2,859,722 shares during the period. Greenlea Lane Capital Management LLC raised its stake in shares of Burford Capital by 325.4% in the second quarter. Greenlea Lane Capital Management LLC now owns 3,362,322 shares of the company’s stock worth $45,724,000 after purchasing an additional 2,571,917 shares during the last quarter. Langdon Equity Partners acquired a new stake in shares of Burford Capital during the fourth quarter worth about $19,661,000. Bank of Montreal Can lifted its holdings in shares of Burford Capital by 58.1% during the second quarter. Bank of Montreal Can now owns 4,976,941 shares of the company’s stock worth $71,594,000 after purchasing an additional 1,829,585 shares during the period. Finally, Two Seas Capital LP purchased a new stake in Burford Capital in the second quarter valued at approximately $22,498,000.

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.