Contrarian Capital Management L.L.C. Acquires 1,488,250 Shares of Burford Capital Limited $BUR

Contrarian Capital Management L.L.C. grew its holdings in Burford Capital Limited (NYSE:BUR) by 58.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,044,998 shares of the company’s stock after buying an additional 1,488,250 shares during the quarter. Burford Capital accounts for 12.2% of Contrarian Capital Management L.L.C.’s investment portfolio, making the stock its 3rd largest position. Contrarian Capital Management L.L.C.’s holdings in Burford Capital were worth $48,378,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Mawer Investment Management Ltd. acquired a new position in Burford Capital during the third quarter worth $8,113,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Burford Capital in the third quarter valued at about $2,153,000. JPMorgan Chase & Co. increased its stake in shares of Burford Capital by 29.4% during the second quarter. JPMorgan Chase & Co. now owns 1,060,143 shares of the company’s stock worth $15,118,000 after purchasing an additional 240,738 shares in the last quarter. Bandera Partners LLC increased its stake in shares of Burford Capital by 42.1% during the second quarter. Bandera Partners LLC now owns 2,510,883 shares of the company’s stock worth $35,805,000 after purchasing an additional 743,769 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new position in shares of Burford Capital during the 2nd quarter worth about $503,000.

Analyst Ratings Changes

A number of brokerages recently weighed in on BUR. Bank of America initiated coverage on shares of Burford Capital in a research note on Wednesday, February 18th. They issued a “buy” rating on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Burford Capital in a report on Monday, December 29th. Zacks Research downgraded Burford Capital from a “hold” rating to a “strong sell” rating in a research report on Monday, March 2nd. Wedbush initiated coverage on Burford Capital in a research note on Friday, February 20th. They issued an “outperform” rating and a $14.00 price target on the stock. Finally, Wall Street Zen cut Burford Capital from a “hold” rating to a “sell” rating in a research report on Sunday, December 21st. Three equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $16.00.

Burford Capital Stock Down 0.7%

Shares of NYSE BUR opened at $8.22 on Thursday. The stock has a market cap of $1.80 billion, a PE ratio of 30.46, a P/E/G ratio of 0.21 and a beta of 0.66. The company has a current ratio of 10.93, a quick ratio of 10.93 and a debt-to-equity ratio of 0.68. Burford Capital Limited has a 12-month low of $7.52 and a 12-month high of $15.10. The company has a 50-day moving average of $9.23 and a 200 day moving average of $10.19.

Burford Capital Dividend Announcement

The business also recently declared a dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 22nd will be given a $0.0625 dividend. The ex-dividend date is Friday, May 22nd. This represents a dividend yield of 147.0%. Burford Capital’s dividend payout ratio is 44.44%.

Burford Capital 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.