Solas Capital Management LLC Has $4.96 Million Position in Burford Capital Limited $BUR

Solas Capital Management LLC raised its holdings in shares of Burford Capital Limited (NYSE:BUR) by 23.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,210,944 shares of the company’s stock after purchasing an additional 230,000 shares during the quarter. Burford Capital makes up 2.7% of Solas Capital Management LLC’s holdings, making the stock its 15th biggest position. Solas Capital Management LLC’s holdings in Burford Capital were worth $4,965,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of BUR. XP Advisory US Inc. acquired a new position in shares of Burford Capital in the second quarter valued at approximately $31,000. Waverly Advisors LLC acquired a new position in shares of Burford Capital in the second quarter valued at about $46,000. Allworth Financial LP grew its position in shares of Burford Capital by 1,747.4% during the 2nd quarter. Allworth Financial LP now owns 11,306 shares of the company’s stock worth $46,000 after purchasing an additional 10,694 shares in the last quarter. Quadrant Capital Group LLC acquired a new stake in shares of Burford Capital in the fourth quarter valued at approximately $53,000. Finally, Strs Ohio acquired a new position in Burford Capital in the 1st quarter valued at $55,000.

Burford Capital Price Performance

Burford Capital stock opened at $4.47 on Thursday. The company has a market capitalization of $982.62 million, a PE ratio of -0.58, a P/E/G ratio of 0.08 and a beta of 1.25. The company has a current ratio of 9.56, a quick ratio of 9.56 and a debt-to-equity ratio of 1.64. The stock has a 50-day moving average price of $4.26 and a two-hundred day moving average price of $5.10. Burford Capital Limited has a 12 month low of $3.59 and a 12 month high of $13.10.

Burford Capital (NYSE:BUR) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.07). Burford Capital had a return on equity of 10.24% and a net margin of 15.14%.During the same quarter last year, the business posted $0.39 EPS. Analysts expect that Burford Capital Limited will post 1.55 EPS for the current year.

Analyst Ratings Changes

BUR has been the subject of a number of analyst reports. Wall Street Zen raised Burford Capital from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 8th. B. Riley Financial reissued a “buy” rating on shares of Burford Capital in a research note on Thursday, May 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Burford Capital in a research note on Friday, August 7th. Finally, Zacks Research downgraded Burford Capital from a “hold” rating to a “strong sell” rating in a research report on Monday, August 10th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $9.33.

Burford Capital Company Profile

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.