Burford Capital (NYSE:BUR) Shares Gap Down – Time to Sell?

Burford Capital Limited (NYSE:BUR) shares gapped down prior to trading on Tuesday . The stock had previously closed at $12.64, but opened at $12.11. Burford Capital shares last traded at $11.54, with a volume of 239,257 shares.

Analyst Ratings Changes

Separately, Wedbush upgraded Burford Capital to an “outperform” rating and set a $18.00 target price for the company in a report on Wednesday, June 11th.

Burford Capital Price Performance

The stock has a market cap of $2.41 billion, a PE ratio of 9.50 and a beta of 0.59. The business’s 50-day simple moving average is $13.41 and its 200-day simple moving average is $13.59. The company has a quick ratio of 15.75, a current ratio of 15.75 and a debt-to-equity ratio of 0.54.

Burford Capital (NYSE:BUR) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.16). Burford Capital had a net margin of 34.81% and a return on equity of 8.07%. The business had revenue of $118.86 million for the quarter, compared to the consensus estimate of $157.00 million. On average, research analysts expect that Burford Capital Limited will post 1.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Burford Capital

Hedge funds have recently made changes to their positions in the company. Rangeley Capital LLC purchased a new position in Burford Capital during the fourth quarter valued at $5,878,000. Gordian Capital Singapore Pte Ltd lifted its position in Burford Capital by 149.9% during the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 112,200 shares of the company’s stock valued at $1,431,000 after acquiring an additional 67,300 shares during the period. Grandeur Peak Global Advisors LLC bought a new stake in Burford Capital during the fourth quarter worth about $2,229,000. Millennium Management LLC bought a new stake in Burford Capital during the fourth quarter worth about $273,000. Finally, BNP Paribas Financial Markets purchased a new stake in Burford Capital in the fourth quarter worth about $335,000.

About Burford Capital

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.