Burford Capital (NYSE:BUR) Issues Earnings Results

Burford Capital (NYSE:BUR) posted its earnings results on Wednesday. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.42), MarketWatch Earnings reports. The business had revenue of $44.55 million for the quarter, compared to analysts’ expectations of $134.00 million.

Burford Capital Trading Down 2.8 %

Burford Capital stock opened at $15.43 on Friday. The company has a current ratio of 6.31, a quick ratio of 6.31 and a debt-to-equity ratio of 0.48. Burford Capital has a 12-month low of $6.09 and a 12-month high of $17.70. The firm’s fifty day moving average is $13.54 and its 200 day moving average is $12.98.

Burford Capital Dividend Announcement

The company also recently declared a semi-annual dividend, which will be paid on Thursday, December 7th. Stockholders of record on Friday, November 10th will be given a $0.0625 dividend. The ex-dividend date is Thursday, November 9th. This represents a dividend yield of 1.6%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Lazard Asset Management LLC acquired a new position in shares of Burford Capital during the 2nd quarter valued at $31,000. Citigroup Inc. lifted its position in shares of Burford Capital by 273,700.0% during the 1st quarter. Citigroup Inc. now owns 2,738 shares of the company’s stock valued at $25,000 after acquiring an additional 2,737 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Burford Capital by 57.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 25,655 shares of the company’s stock valued at $312,000 after acquiring an additional 9,399 shares during the period. ExodusPoint Capital Management LP acquired a new position in shares of Burford Capital during the 1st quarter valued at $115,000. Finally, Millennium Management LLC lifted its position in shares of Burford Capital by 90.5% during the 4th quarter. Millennium Management LLC now owns 22,850 shares of the company’s stock valued at $186,000 after acquiring an additional 10,855 shares during the period.

Wall Street Analysts Forecast Growth

BUR has been the topic of a number of research reports. Berenberg Bank initiated coverage on shares of Burford Capital in a report on Thursday, June 22nd. They set a “buy” rating on the stock. StockNews.com started coverage on shares of Burford Capital in a research report on Wednesday, August 23rd. They issued a “hold” rating on the stock. Finally, B. Riley boosted their price target on shares of Burford Capital from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday.

About Burford Capital

Burford Capital Limited, through its subsidiaries, provides legal finance products and services worldwide. The company operates through two segments, Capital Provision, and Asset Management and Other Provision. The Capital Provision segment provides capital to the legal industry or in connection with legal matters directly and through investment in private funds.