Burford Capital (NYSE:BUR) Posts Quarterly Earnings Results, Misses Estimates By $0.42 EPS

Burford Capital (NYSE:BUR) released its earnings results on Wednesday. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.42), MarketWatch Earnings reports.

Burford Capital Stock Performance

Shares of BUR stock opened at $15.89 on Thursday. The stock’s fifty day simple moving average is $13.48 and its 200 day simple moving average is $12.92. The company has a quick ratio of 6.31, a current ratio of 6.31 and a debt-to-equity ratio of 0.48. Burford Capital has a one year low of $6.09 and a one year high of $17.70.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of BUR. JPMorgan Chase & Co. increased its holdings in Burford Capital by 97.6% during the 1st quarter. JPMorgan Chase & Co. now owns 40,734 shares of the company’s stock valued at $374,000 after purchasing an additional 20,117 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Burford Capital in the first quarter valued at $373,000. XTX Topco Ltd bought a new position in shares of Burford Capital in the first quarter valued at about $342,000. Walleye Capital LLC acquired a new position in Burford Capital during the 2nd quarter worth about $314,000. Finally, Bank of New York Mellon Corp grew its holdings in Burford Capital by 57.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 25,655 shares of the company’s stock worth $312,000 after acquiring an additional 9,399 shares during the last quarter.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. B. Riley increased their price target on shares of Burford Capital from $18.00 to $20.00 and gave the company a “buy” rating in a report on Monday. StockNews.com started coverage on Burford Capital in a research report on Wednesday, August 23rd. They set a “hold” rating on the stock. Finally, Berenberg Bank initiated coverage on shares of Burford Capital in a research note on Thursday, June 22nd. They set a “buy” rating on the stock.

About Burford Capital

Burford Capital Limited, through its subsidiaries, 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.