Wedbush Lowers Burford Capital (NYSE:BUR) Price Target to $6.00

Burford Capital (NYSE:BUR) had its target price dropped by research analysts at Wedbush from $13.00 to $6.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s price target would suggest a potential upside of 42.01% from the stock’s previous close.

BUR has been the topic of several other reports. Bank of America initiated coverage on shares of Burford Capital in a report on Wednesday, February 18th. They set a “buy” rating on the stock. Zacks Research lowered shares of Burford Capital from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. Weiss Ratings reiterated a “sell (d+)” rating on shares of Burford Capital in a research note on Friday. Finally, Wall Street Zen lowered shares of Burford Capital from a “hold” rating to a “sell” rating in a report on Sunday, December 21st. Three research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $12.00.

Burford Capital Trading Up 2.1%

NYSE:BUR traded up $0.09 during midday trading on Friday, hitting $4.23. The stock had a trading volume of 3,588,870 shares, compared to its average volume of 2,459,153. The company has a quick ratio of 10.93, a current ratio of 10.93 and a debt-to-equity ratio of 0.68. The stock has a 50-day moving average of $8.81 and a 200 day moving average of $9.67. The company has a market capitalization of $924.84 million, a price-to-earnings ratio of 15.35, a PEG ratio of 0.11 and a beta of 0.66. Burford Capital has a one year low of $3.59 and a one year high of $15.10.

Burford Capital (NYSE:BUR) last issued its earnings results on Thursday, February 26th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.54). The firm had revenue of $48.78 million during the quarter, compared to analysts’ expectations of $168.30 million. Burford Capital had a return on equity of 1.97% and a net margin of 15.14%. As a group, sell-side analysts forecast that Burford Capital will post 1.28 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BUR. Signaturefd LLC raised its stake in Burford Capital by 1,687.7% in the 4th quarter. Signaturefd LLC now owns 2,914 shares of the company’s stock worth $26,000 after acquiring an additional 2,751 shares during the last quarter. Strs Ohio purchased a new stake in Burford Capital during the 1st quarter valued at about $55,000. Quadrant Capital Group LLC purchased a new stake in Burford Capital during the 4th quarter valued at about $53,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Burford Capital in the third quarter valued at about $120,000. Finally, State of Alaska Department of Revenue purchased a new position in shares of Burford Capital in the third quarter worth about $124,000.

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.