Wedbush Begins Coverage on Burford Capital (NYSE:BUR)

Research analysts at Wedbush assumed coverage on shares of Burford Capital (NYSE:BUR) in a research report issued on Friday, Marketbeat Ratings reports. The firm set an “outperform” rating and a $14.00 price target on the stock. Wedbush’s target price indicates a potential upside of 45.30% from the company’s current price.

Several other analysts have also recently commented on BUR. Bank of America began coverage on Burford Capital in a research report on Wednesday. They issued a “buy” rating for the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Burford Capital in a research note on Monday, December 29th. B. Riley Financial restated a “buy” rating and set a $18.00 price objective (down from $20.00) on shares of Burford Capital in a research report on Tuesday, November 11th. Zacks Research upgraded Burford Capital from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Finally, Wall Street Zen lowered shares of Burford Capital from a “hold” rating to a “sell” rating in a research report on Sunday, December 21st. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $16.00.

Burford Capital Stock Down 1.2%

Shares of NYSE:BUR opened at $9.64 on Friday. The firm has a 50 day simple moving average of $9.37 and a 200 day simple moving average of $10.64. Burford Capital has a 52 week low of $8.19 and a 52 week high of $15.73. 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 company has a market cap of $2.11 billion, a PE ratio of 25.36, a price-to-earnings-growth ratio of 0.16 and a beta of 0.58.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Orbis Allan Gray Ltd lifted its holdings in shares of Burford Capital by 31.1% during the 4th quarter. Orbis Allan Gray Ltd now owns 12,051,544 shares of the company’s stock valued at $107,500,000 after buying an additional 2,859,722 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Burford Capital by 2.5% in the third quarter. Ameriprise Financial Inc. now owns 9,418,521 shares of the company’s stock valued at $107,170,000 after acquiring an additional 229,979 shares during the last quarter. Bank of Montreal Can grew its position in Burford Capital by 24.8% in the fourth quarter. Bank of Montreal Can now owns 6,779,231 shares of the company’s stock worth $60,471,000 after acquiring an additional 1,346,663 shares in the last quarter. Invesco Ltd. grew its position in Burford Capital by 34.3% in the second quarter. Invesco Ltd. now owns 6,078,537 shares of the company’s stock worth $86,680,000 after acquiring an additional 1,551,357 shares in the last quarter. Finally, Cooke & Bieler LP increased its stake in shares of Burford Capital by 31.0% during the 4th quarter. Cooke & Bieler LP now owns 5,194,551 shares of the company’s stock worth $46,335,000 after purchasing an additional 1,228,328 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.