Burford Capital (NYSE:BUR) Now Covered by Analysts at Bank of America

Equities researchers at Bank of America began coverage on shares of Burford Capital (NYSE:BUR) in a report released on Wednesday. The firm set a “buy” rating on the stock.

A number of other analysts have also recently weighed in on the company. Weiss Ratings restated a “sell (d+)” rating on shares of Burford Capital in a research note on Monday, December 29th. Wall Street Zen cut shares of Burford Capital from a “hold” rating to a “sell” rating in a research note on Sunday, December 21st. B. Riley Financial reiterated a “buy” rating and issued a $18.00 price objective (down previously from $20.00) on shares of Burford Capital in a research report on Tuesday, November 11th. Finally, Zacks Research raised Burford Capital from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Burford Capital presently has an average rating of “Hold” and an average target price of $18.00.

Burford Capital Trading Up 1.8%

NYSE BUR traded up $0.18 during trading hours on Wednesday, reaching $9.78. The company had a trading volume of 144,145 shares, compared to its average volume of 1,569,927. The company has a current ratio of 14.99, a quick ratio of 14.99 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $2.14 billion, a P/E ratio of 25.81, a price-to-earnings-growth ratio of 0.16 and a beta of 0.58. The stock has a 50-day moving average of $9.33 and a 200 day moving average of $10.69. Burford Capital has a 1-year low of $8.19 and a 1-year high of $15.73.

Hedge Funds Weigh In On Burford Capital

A number of hedge funds have recently added to or reduced their stakes in BUR. Orbis Allan Gray Ltd raised its stake in shares of Burford Capital by 31.1% in the 4th quarter. Orbis Allan Gray Ltd now owns 12,051,544 shares of the company’s stock valued at $107,500,000 after acquiring an additional 2,859,722 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Burford Capital by 2.5% in the third quarter. Ameriprise Financial Inc. now owns 9,418,521 shares of the company’s stock worth $107,170,000 after buying an additional 229,979 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of Burford Capital by 24.8% during the 4th quarter. Bank of Montreal Can now owns 6,779,231 shares of the company’s stock worth $60,471,000 after buying an additional 1,346,663 shares during the period. Invesco Ltd. grew its stake in Burford Capital by 34.3% in the 2nd quarter. Invesco Ltd. now owns 6,078,537 shares of the company’s stock valued at $86,680,000 after buying an additional 1,551,357 shares during the last quarter. Finally, Cooke & Bieler LP grew its stake in 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 during the last quarter.

Burford Capital Company Profile

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.