Burford Capital Limited $BUR Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its stake in Burford Capital Limited (NYSE:BUR) by 27.8% during the 3rd quarter, Holdings Channel reports. The firm owned 765,852 shares of the company’s stock after selling 294,291 shares during the quarter. JPMorgan Chase & Co.’s holdings in Burford Capital were worth $9,160,000 at the end of the most recent reporting period.

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

Burford Capital Stock Down 6.1%

Shares of NYSE:BUR opened at $7.77 on Friday. The firm has a market capitalization of $1.70 billion, a PE ratio of 28.77, a price-to-earnings-growth ratio of 0.18 and a beta of 0.66. Burford Capital Limited has a 1 year low of $7.67 and a 1 year high of $15.10. The company has a debt-to-equity ratio of 0.68, a current ratio of 10.93 and a quick ratio of 10.93. The firm’s 50-day moving average is $9.28 and its two-hundred day moving average is $10.33.

Burford Capital Dividend Announcement

The firm also recently announced a dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 22nd will be issued a dividend of $0.0625 per share. The ex-dividend date is Friday, May 22nd. This represents a yield of 147.0%. Burford Capital’s dividend payout ratio is 44.44%.

Wall Street Analysts Forecast Growth

BUR has been the subject of several research reports. B. Riley Financial reaffirmed a “buy” rating and set a $18.00 price objective (down from $20.00) on shares of Burford Capital in a research note on Tuesday, November 11th. Wedbush initiated coverage on shares of Burford Capital in a research report on Friday, February 20th. They set an “outperform” rating and a $14.00 price target on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of Burford Capital in a research report on Monday, December 29th. Bank of America initiated coverage on Burford Capital in a research report on Wednesday, February 18th. They issued a “buy” rating on the stock. Finally, Zacks Research cut Burford Capital from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. Three research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $16.00.

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.