Burford Capital Limited (NYSE:BUR) Short Interest Update

Burford Capital Limited (NYSE:BUR) was the target of a significant increase in short interest in October. As of October 31st, there was short interest totalling 7,670,000 shares, an increase of 26.8% from the October 15th total of 6,050,000 shares. Currently, 4.1% of the company’s stock are short sold. Based on an average daily volume of 553,100 shares, the short-interest ratio is presently 13.9 days.

Burford Capital Price Performance

NYSE:BUR opened at $13.19 on Friday. Burford Capital has a 1-year low of $12.07 and a 1-year high of $16.77. The firm has a fifty day simple moving average of $13.43 and a 200 day simple moving average of $13.62. The company has a debt-to-equity ratio of 0.54, a current ratio of 15.75 and a quick ratio of 15.75.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can raised its holdings in shares of Burford Capital by 367.7% in the 2nd quarter. Bank of Montreal Can now owns 5,753,031 shares of the company’s stock valued at $75,077,000 after purchasing an additional 4,523,087 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its stake in Burford Capital by 1.2% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,052,748 shares of the company’s stock valued at $39,838,000 after buying an additional 34,845 shares during the period. State Street Corp lifted its position in shares of Burford Capital by 24.6% in the third quarter. State Street Corp now owns 2,946,927 shares of the company’s stock valued at $39,076,000 after buying an additional 582,514 shares during the last quarter. Baillie Gifford & Co. boosted its stake in shares of Burford Capital by 15.6% during the 2nd quarter. Baillie Gifford & Co. now owns 1,534,668 shares of the company’s stock worth $19,788,000 after acquiring an additional 207,157 shares during the period. Finally, M&G Plc acquired a new position in shares of Burford Capital during the 1st quarter worth approximately $18,108,000.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Burford Capital in a research report on Friday, September 6th. They set a “buy” rating and a $18.00 price target on the stock. Wedbush reiterated an “outperform” rating and set a $18.00 target price on shares of Burford Capital in a report on Friday, August 9th.

Burford Capital Company Profile

Burford Capital Limited 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; legal risk management services; lower risk legal finance business focusing on pre-settlement litigation matters with lower risk and lower expected returns; post-settlement finance; and complex strategies in which it acts as a principal and acquires assets that are mispriced.