Alpha Wave Global LP Makes New $3.10 Million Investment in Burford Capital Limited $BUR

Alpha Wave Global LP purchased a new position in shares of Burford Capital Limited (NYSE:BUR) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 217,108 shares of the company’s stock, valued at approximately $3,096,000. Burford Capital accounts for about 0.3% of Alpha Wave Global LP’s portfolio, making the stock its 22nd largest holding. Alpha Wave Global LP owned 0.10% of Burford Capital as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Aberdeen Group plc purchased a new position in Burford Capital during the second quarter worth about $29,208,000. Capricorn Fund Managers Ltd increased its holdings in shares of Burford Capital by 400.0% during the 2nd quarter. Capricorn Fund Managers Ltd now owns 100,000 shares of the company’s stock worth $1,426,000 after buying an additional 80,000 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Burford Capital during the 2nd quarter worth approximately $503,000. Bandera Partners LLC raised its position in shares of Burford Capital by 42.1% during the 2nd quarter. Bandera Partners LLC now owns 2,510,883 shares of the company’s stock valued at $35,805,000 after buying an additional 743,769 shares during the period. Finally, Invesco Ltd. lifted its holdings in Burford Capital by 0.8% in the first quarter. Invesco Ltd. now owns 4,527,180 shares of the company’s stock valued at $59,804,000 after acquiring an additional 34,228 shares during the last quarter.

Burford Capital Stock Down 3.7%

Shares of BUR opened at $9.19 on Friday. The company’s 50-day simple moving average is $10.15 and its 200-day simple moving average is $12.12. The company has a debt-to-equity ratio of 0.67, a quick ratio of 14.99 and a current ratio of 14.99. Burford Capital Limited has a 1 year low of $8.19 and a 1 year high of $15.73. The stock has a market capitalization of $2.01 billion, a PE ratio of 24.17 and a beta of 0.57.

Burford Capital (NYSE:BUR) last announced its earnings results on Wednesday, November 5th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.39). The business had revenue of $69.80 million for the quarter, compared to analysts’ expectations of $136.03 million. Burford Capital had a return on equity of 2.71% and a net margin of 18.42%. Analysts forecast that Burford Capital Limited will post 1.28 earnings per share for the current fiscal year.

Burford Capital Dividend Announcement

The business also recently disclosed a semi-annual dividend, which was paid on Thursday, December 4th. Stockholders of record on Friday, October 31st were paid a $0.0625 dividend. This represents a dividend yield of 125.0%. The ex-dividend date was Friday, October 31st. Burford Capital’s dividend payout ratio (DPR) is presently 31.58%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BUR shares. B. Riley reissued a “buy” rating and set a $18.00 target price (down previously from $20.00) on shares of Burford Capital in a research note on Tuesday, November 11th. Wedbush reissued an “outperform” rating and set a $18.00 price objective on shares of Burford Capital in a research report on Thursday, August 14th. Wall Street Zen lowered shares of Burford Capital from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Zacks Research lowered shares of Burford Capital from a “hold” rating to a “strong sell” rating in a research note on Friday, November 7th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Burford Capital in a research report on Monday. Two equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Burford Capital has an average rating of “Hold” and an average target price of $18.00.

Burford Capital Profile

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.