Burford Capital (NYSE:BUR) Stock Rating Lowered by Zacks Investment Research

Burford Capital (NYSE:BUR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday, Zacks.com reports.

According to Zacks, “Burford Capital Limited is a finance and asset management firm focused on law. Its businesses include litigation finance and risk management, asset recovery as well as legal finance and advisory activities. The company operates principally in New York, London, Chicago, Washington, Singapore and Sydney. Burford Capital Limited is based in St Peter Port, Guernsey. “

Separately, Wedbush started coverage on Burford Capital in a research report on Thursday, June 3rd. They set an “outperform” rating and a $15.00 price objective for the company.

Shares of NYSE:BUR traded down $0.26 on Friday, reaching $10.89. 115,139 shares of the company traded hands, compared to its average volume of 142,513. Burford Capital has a fifty-two week low of $8.00 and a fifty-two week high of $13.55. The company’s 50 day moving average is $11.26 and its 200-day moving average is $10.91. The stock has a market capitalization of $2.39 billion and a PE ratio of 13.96.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Border to Coast Pensions Partnership Ltd purchased a new stake in shares of Burford Capital in the second quarter valued at $948,451,000. Goldman Sachs Group Inc. lifted its holdings in shares of Burford Capital by 136.0% in the second quarter. Goldman Sachs Group Inc. now owns 381,961 shares of the company’s stock valued at $3,969,000 after purchasing an additional 220,145 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Burford Capital in the second quarter valued at $199,000. Trexquant Investment LP purchased a new stake in shares of Burford Capital in the second quarter valued at $163,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Burford Capital by 63.3% during the second quarter. JPMorgan Chase & Co. now owns 1,271,402 shares of the company’s stock worth $13,210,000 after acquiring an additional 492,617 shares in the last quarter.

Burford Capital Company Profile

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.

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