Burford Capital (NYSE:BUR) Stock Price Down 5.3% on Analyst Downgrade

Burford Capital Limited (NYSE:BUR – Get Rating)’s stock price fell 5.3% on Friday after Wedbush lowered their price target on the stock from $14.00 to $13.00. Wedbush currently has an outperform rating on the stock. Burford Capital traded as low as $6.66 and last traded at $6.66. 101,965 shares changed hands during trading, a decline of 72% from the average session volume of 361,624 shares. The stock had previously closed at $7.03.

Institutional Investors Weigh In On Burford Capital

Several large investors have recently made changes to their positions in BUR. Invesco Ltd. bought a new stake in shares of Burford Capital in the 1st quarter valued at approximately $110,137,000. Jane Street Group LLC lifted its holdings in shares of Burford Capital by 4,092.2% during the first quarter. Jane Street Group LLC now owns 1,031,163 shares of the company’s stock worth $9,405,000 after buying an additional 1,006,566 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Burford Capital by 52.2% during the fourth quarter. JPMorgan Chase & Co. now owns 2,596,470 shares of the company’s stock worth $21,161,000 after buying an additional 890,341 shares during the last quarter. Sycale Advisors NY LLC lifted its holdings in shares of Burford Capital by 766.7% during the second quarter. Sycale Advisors NY LLC now owns 799,262 shares of the company’s stock worth $8,064,000 after buying an additional 707,041 shares during the last quarter. Finally, Bayberry Capital Partners LP lifted its holdings in shares of Burford Capital by 12.3% during the third quarter. Bayberry Capital Partners LP now owns 4,740,000 shares of the company’s stock worth $35,550,000 after buying an additional 520,000 shares during the last quarter. Institutional investors own 2.04% of the company’s stock.

Burford Capital Price Performance

The company has a market capitalization of $1.48 billion and a price-to-earnings ratio of -56.25. The business has a fifty day moving average price of $8.46 and a 200 day moving average price of $8.28.

Burford Capital Announces Dividend

The company also recently announced a semi-annual dividend, which will be paid on Friday, June 16th. Investors of record on Friday, May 26th will be paid a $0.0625 dividend. The ex-dividend date of this dividend is Thursday, May 25th. This represents a dividend yield of 3.6%.

Burford Capital Company Profile

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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.