Burford Capital (NYSE:BUR) Coverage Initiated at Bank of America

Stock analysts at Bank of America initiated coverage on shares of Burford Capital (NYSE:BUR) in a report issued on Wednesday, Marketbeat Ratings reports. The firm set a “buy” rating on the stock.

Several other analysts have also recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Burford Capital in a research note on Monday, December 29th. Wall Street Zen cut Burford Capital from a “hold” rating to a “sell” rating in a report on Sunday, December 21st. B. Riley Financial reiterated a “buy” rating and issued a $18.00 price objective (down previously from $20.00) on shares of Burford Capital in a research report on Tuesday, November 11th. Finally, Zacks Research raised Burford Capital from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $18.00.

Burford Capital Stock Down 0.4%

BUR opened at $9.74 on Wednesday. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of 25.63, a PEG ratio of 0.16 and a beta of 0.58. The company has a debt-to-equity ratio of 0.67, a quick ratio of 14.99 and a current ratio of 14.99. The firm’s 50-day simple moving average is $9.36 and its 200-day simple moving average is $10.67. Burford Capital has a twelve month low of $8.19 and a twelve month high of $15.73.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Burford Capital by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 119,261 shares of the company’s stock worth $1,575,000 after acquiring an additional 5,229 shares during the last quarter. Millennium Management LLC raised its holdings in Burford Capital by 2,967.7% during the 1st quarter. Millennium Management LLC now owns 657,283 shares of the company’s stock worth $8,683,000 after purchasing an additional 635,857 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Burford Capital by 14.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,206,303 shares of the company’s stock valued at $15,935,000 after purchasing an additional 152,792 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Burford Capital by 8.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 458,562 shares of the company’s stock valued at $6,058,000 after purchasing an additional 35,541 shares during the period. Finally, Jane Street Group LLC boosted its stake in shares of Burford Capital by 369.9% in the 1st quarter. Jane Street Group LLC now owns 201,950 shares of the company’s stock valued at $2,667,000 after purchasing an additional 158,973 shares during the last quarter.

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.